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Draft legislation has been published intended to catch contracts signed outside Austria and having one non-Austrian party.

Belgium’s advance rulings procedure has existed since 1993. But recent legislation has expanded the range of rulings available. Marc de Munter of Freshfields Deringer in Brussels explains how multinationals can make the most of the new system

Shearman & Sterling is advising US holding company Georgia Pacific on its acquisition of North America's largest paper distributing and marketing company, Unisource.

Interest expenses are, as a rule, fully deductible for Norwegian corporations. However, the right to deductions for Norwegian resident taxpayers owning real property abroad is subject to limitations, in the way that interest expenses equivalent to the pro rata share of the taxpayer's gross real property situated abroad are disallowed. This treatment may now change. The Ministry of Finance is considering new rules under which all interest expenses are deductible to the extent the expenses does not relate to income exempt from Norwegian taxation under a double tax treaty.

After the March 1999 parliamentary elections, the new government of Finland was appointed on April 15 1999. The government consists of the same political parties as the preceding government. The most influential parties in the government are the Social Democratic Party (SDP) and the conservative National Coalition Party (KOK). Paavo Lipponen (SDP) continues as prime minister and Sauli Niinisto (KOK) as minister of finance.

Canadian foreign affiliate rules have been compared to the US regime for their complexity. Ian Crosbie of Davies, Ward & Beck in Toronto explains the legislation and clarifies how new anti-abuse proposals could catch many taxpayers unawares

The Indian government has passed the Companies (Amendment) Act, 1999 that makes some important amendments to the Companies Act, 1956, with effect from October 31 1998. Some of the most important changes are as follows.

Gerhard Schroder, the German Chancellor, has revealed a package of tax cuts worth at least Dm 8 billion ($4.2 billion) to business. But industry figures think the Chancellor has not gone far enough.

Tax officials are concerned that the expansion of e-commerce may lead to large-scale tax evasion in China, according to the official Wenhui Daily.

New York firm Kramer, Levin, Naftalis & Frankel is advising Bermuda company Tyco on its acquisition of Raychem. Tyco is the world's biggest underwater communications firm, and Raychem designs, manufactures, and distributes electronic components. Tyco will pay $1.4billion in cash and will issue 16 million new shares based on the remainder of the Raychem shares.