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Amendments to the Polish tax regulations relating to transfer pricing came into force on January 1 2009. Article 11 of the corporate income tax law was supplemented with regulations, which allow the taxpayer to apply for a correction to its taxable profit in the situation when such profit was already taxed by a foreign tax administration relevant to the taxpayer's related customer (corresponding adjustment).

By International Tax Review

Stef van Weeghel has joined PricewaterhouseCoopers in Amsterdam, where he will work as part of a group of almost 30 people focusing on large corporations and financial institutions. He also teaches one day a week at Amsterdam University.

The UK's opposition party wants corporation tax to be cut to below 25%.

Luxembourg has bowed to international pressure and signed its 12th tax information exchange agreement, removing it from the OECD's grey list of uncooperative jurisdictions.

The US Treasury has told the Senate Finance Committee that the federal tax gap has fallen from about $345 billion in 2005 to about $290 billion now. The reduction has come mainly from enforcement actions and other late payments, officials said.

Maldives businesses are to be taxed for the first time, after parliament agreed to introduce the country's first Corporate Tax Bill.

Singapore will sign an agreement later this year to exchange tax information with France in a bid to improve its status worldwide.

Tax professionals in the UK are calling for appropriate safeguards and clear guidelines to make sure corporates that pay the correct amount of tax do not end up on the government's black list of tax dodgers.

Steven Sieker has joined Baker & McKenzie as a partner in its Hong Kong office. He advises on Hong Kong, Canadian and Asian regional corporate tax, wealth management and tax litigation.