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Russian Prime Minister Mikhail Kasyanov has decided the fate of profit tax in Russia. Part two of the Russian tax code came into effect in January 2001, following the implementation of part one in 1999. But, while part two announced changes in VAT and personal income tax rates, and part one dealt with tax administration, the government failed, in either section, to agree on a new profit tax chapter. Two sections of the Russian government each produced a draft profit tax chapter and on February 7 2001, Kasyanov decided which of the two versions to develop. A working group is now amending the draft chapter, but it is unlikely to come into effect before January 2002.

In tax terms, cyberspace is relatively unchartered territory for Latin America. Jorge A Gross, Nicasio del Castillo, Manuel Solano, Eduardo Pupo and German Jimenez of PricewaterhouseCoopers’ Latin American Business Center take a look at regional developments

The Australian government is planning to simplify the country's tax reporting system following pressure from business and accounting groups. The Treasury is proposing changes to the Business Activity Statement, which requires businesses to report their turnover and tax collected monthly or quarterly to the tax office. Reforms include allowing organizations with annual sales below A$1 million to file the Statement every 12 months.

Structuring a demerger to attain maximum tax benefits and to minimize exposure to stamp duty is imperative. Mike Hardwick, John Lindsay and Claire Hopes, Linklaters & Alliance, London, give an insider's guide to the National Power/Innogy deal

Tighter documentation requirements are the essence of Germany's new draft transfer pricing regulations. There are major risks, but also double rewards for taxpayers who respond in timely fashion. By Alexander Vögele and William Bader for KPMG, Frankfurt

3-5 years pqe Opportunity to join one of the prestigious tax teams in the London office of this well established US firm. Broad variety of tax matters (both corporate and finance related) to handle and will be part of a highly regarded practice both sides of the Atlantic. Strong academics and solid experience in corporate tax is essential. (£US rates)

Government tax specialist Ken Henry will take up his new role as Australian secretary to the Treasury on April 27. Henry is being promoted from his position as executive director of the Treasury's Economic Group, where he had responsibility for domestic macroeconomic policy advice, economic forecasting, and advice on international economic issues, which includes Australia's relationship with multilateral financial institutions.

Articles 5(3) and 13B(b) of the Sixth VAT Directive – value added tax treatment of grant of usufructuary right in respect of immovable property for a term of 10 years – whether a member state may treat such a transaction as exempted ‘leasing or letting of immovable property’ within the meaning of Article 13B(b) of the Sixth Directive.

British consumers may be spared levies on blank recording devices, such as discs or tapes, in a Department of Trade and Industry stance that sets it apart from its European counterparts. Levies on recording equipment may also be removed. A regional tax initiative comes under the EU copyright directive voted on last week and introduced to compensate for copyright infringement. According to the UK's Financial Times, the UK government will resist any attempts to introduce such a levy here, believing its copyright law to be tighter than other member states.

Deacons has lured a tax specialist to the firm to expand its Australian practice. Academic Miranda Stewart, a senior lecturer in tax law at the University of Melbourne, will work part time for Deacons as special counsel. She specializes in corporate and business income tax, international tax and comparative tax systems, focusing on the US.