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Singapore's minister for finance presented the 2000 budget proposals to Parliament on February 25 2000.

In what many view as a rather surprising decision, Canada's Federal Court of Appeals (FCA) recently ruled that a US consultant did not have a fixed base (ie taxable presence) in Canada. Under article 14 of the Canada-US treaty, and any other OECD-based treaty, a host country does not tax an independent contractor unless he or she works from a fixed base. The same guidelines determine whether the presence of a US company's employees in Canada creates a permanent establishment, which is defined as a fixed place of business through which the business of an enterprise is wholly or partly carried on.

Successfully buying into a Japanese business turns on a complex interaction of acquirer, target and seller considerations. Dean Yoost, Takuro Tagai and Al Zencak of PricewaterhouseCoopers, Tokyo detail the most important issues

Saudi Arabia has introduced a new set of tax incentives for foreign investors. The new regulations, which were announced on April 11, will lower profits tax from 45% to 30%, with foreign profits below $26,670 being taxed at 25%. The carry-forward of losses will be allowed for the first time.

The classic concept of a Swiss finance branch has been experiencing an impressive revival. Stefan Widmer and Matthias Blom of Arthur Andersen, Zurich advise on how to expand the concept to a wide range of treasury functions and adapt it to a group's intangible properties

land's Finance Act 2000 has fundamentally changed the tax treatment of funds in Ireland. It attempts to homogenize the tax treatment between investment funds previously available to Irish residents (domestic funds) and those which were only available to non-Irish residents. In so doing, the new regime deals with some EU concerns and especially Spanish discontent at the alleged discriminatory treatment of the previous regime. The changes should further enhance Ireland's attractiveness as a base from which to conduct investment fund business and provide Irish investors with a new attractive investment vehicle.

Australia is now at the mid-point in what purports to be the total overhaul of its direct and indirect tax system. Peter McCullough of Deloitte Touche Tohmatsu, Australia and Ali Noroozi of Linklaters, UK detail the proposed changes

A high court of appeal decision in the UK could open the floodgates for insurance companies wanting to reclaim value-added tax (VAT) payments.

Indonesia has shocked foreign companies based on the island of Batam by scrapping exemptions from luxury goods tax and value-added tax (VAT).

Sullivan & Cromwell provided tax advice through tax partner Andy Mason, and associates David Spitzer and Mike Foley. Alan Kaden, lead tax partner with Fried, Frank, Harris Shriver & Jacobson's Washington office provided tax advice for BellSouth.