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PricewaterhouseCoopers has been practicing in Latin America for nearly a century, with its first office opening in the region in 1906. With a Latin American network of over 12,000 professionals and the largest market share of any other services organization in the region, PricewaterhouseCoopers is uniquely positioned to assist companies with respect to their business activities throughout Latin America.

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For the past two years, the results of International Tax Review's Latin America survey have yielded few surprises, with little movement in the ranking of firms. However, as this year's results show, the dynamics could be changing. Find out why. By Sharon Cunningham

Although a simple activity, foreign residents may encounter several difficulties when leasing property in Mexico. Rules are not always clear and may not integrate all direct and indirect taxes in a comprehensible manner. This article summarizes some of the main considerations.

Aspirations for a single EU market are killed off by member states that use tax legislation to discriminate against cross-border sales of investment funds. By David Newton and Travis Barker of PricewaterhouseCoopers

Some time ago, the Belgian government announced tax reforms that will, in time, result in a reduction in the standard rate of corporation tax to 33.99%. At present, the new, lower rate includes what is referred to as a crisis contribution (a surcharge of 3% on the tax charge). The eventual aim is to do away with the 3% supplement, thus bringing the ultimate rate down to 33%. The time scale for the reform is not yet set in stone: the Treasury has indicated January 1 2002 as a possible introduction date.

The Korean National Tax Service (NTS) and the Ministry of Finance and Economy (MOFE) recently issued two private rulings that may affect foreign companies doing business in Korea.

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European Commission plans to modernize company taxation in the EU have received a mixed response. The Commission and other proponents of the plans claim that they will cut compliance costs for companies operating in more than one European country and boost cross-border investment. Critics argue that the plans are another step towards tax harmonization and are unrealistic.

The Federal Tax Court has handed down its most important decision yet on German transfer pricing law. Dated October 17 2001 and released in electronic form in mid-November 2001, the new judgment decides an appeal of a December 1998 decision by the Düsseldorf Tax Court that attracted attention primarily because of the lower court's rejection of the use of so-called secret comparables in transfer pricing litigation (see articles in International Tax Review by Alexander Vögele, July/August 1999, p9, and by Thomas Borstell and Michael Prick, April 1999, p9). In May 2001, an interlocutory ruling by the Federal Tax Court in the same matter signalled the high court's unwillingness to uphold the transfer pricing documentation requirements that had been proposed by the German tax authorities (see article by Alexander Vögele and William Bader in International Tax Review, September 2001, p45).