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  • The UK Treasury has revealed it is considering a windfall tax on oil companies, soon after BP announced near-record profits of £2.7 billion ($3.8 billion) for the second quarter of the year
  • Alice Lau Mak Yee-Ming, acting Commissioner for the Hong Kong Inland Revenue, has been permanently appointed to the post after months of uncertainty in the department.
  • The Organization for Economic Cooperation and Development (OECD) has said Australia must further reform its taxation systems.
  • Hong Kong's finance secretary is downplaying suggestions that the government should introduce a 3% general sales tax (GST) following a report issued this week proposing its introduction
  • NQ-1 yr pqe Talented UK qualified lawyer required to join this outstanding tax team of this US firm. Supporting a high calibre UK corporate team you will have the opportunity to stand out. (£US rates) Ref: LM13113.L Contact: Simone Templeton, Garfield Robbins
  • The OECD has delayed its deadline for tax havens to cooperate with its initiative against harmful tax practices until November 30
  • Deloitte & Touche has strengthened its energy and M&A-focused tax advisory team in Poland
  • British internet service provider Freeserve has attacked a UK VAT exemption enjoyed by its American rival AOL
  • Billions of dollars worth of oil and gas projects in fields between Australia and East Timor have been put on hold, after it became clear that the new state's taxation plans might not tally with earlier agreements
  • The Philippine finance ministry is pushing for the sale of asset-backed securities to be tax-free, with the country preparing for the enactment of a securitization law