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  • Indian employees of pharmaceutical, biotech, and entertainment companies based in India will benefit from lower tax rates if they receive global depository receipts (GDRs) from their employers under employee stock option schemes
  • Tax havens have criticized the OECD’s work on unfair tax competition after the international organization published a report last week on the project so far
  • The European Commission has declared that a French tax scheme granting tax breaks for setting up branches abroad is incompatible with the European Coal and Steel Community Treaty
  • UK anti-terrorist legislation will stop companies avoiding tax on payments to secure foreign contracts
  • Sixth VAT Directive – Article 11A(1)(a) – Taxable amount – Subsidies directly linked to the price.
  • The OECD is giving Indian officials training in transfer pricing issues.
  • Four partners from Chiomenti Studio Legale are jumping ship to Freshfields Bruckhaus Deringer, just months after the Italian firm formed an alliance with Skadden, Arps, Slate, Meagher & Flom
  • WJB Chiltern, a consultancy firm advising on tax and wealth management, has hired Mark Lee, the deputy chairman of the Tax Faculty of the Institute of Chartered Accountants in England & Wales (ICAEW).
  • The Indian Ministry of Finance is considering whether to extend the deadline for the tax exemption on the dividend paid by mutual funds on equity schemes, according to The Economic Times.
  • The UK could throw into disarray European Commission plans to allow companies a single tax rate for all their EU activities