World Tax Advisor is a weekly bulletin of international tax development professionals from the member firms of Deloitte. The newsletter focuses on analyses of cross-border tax developments that reflect the dynamic business environment for multinationals.

Subscribe to receive World Tax Advisor directly via email (e-newsletters are managed out of the United States).

July 3, 2009

• Featured Articles
  - Proposed changes to U.S. individual taxes: considerations for high net worth taxpayers
• Brazil
  - Measures on tax effects of IAS/IFRS and tax debt payment converted into law
• European Union
  - Spain requested to change taxation of exchange of shares
• Gambia
  - Compliance obligations being enforced
• Greece
  - Withholding tax on interest and royalties reduced
• India
  - Delhi ITAT considers installation PE issue
  - Liaison office may create tax exposure
• In brief
  - News in brief from Belarus, Canada, the E.U. and Qatar.
• Global Tax Alerts
  - Gibraltar: 2009 budget includes further tax reductions
  - Hungary: Parliament passes major changes to tax rules

June 26, 2009

• Featured Articles
  - Cash management and saving opportunities for mobile employees in Japan
• China
  - Guidance issued on favorable tax treatment for high-tech service enterprises
• Germany
  - Lower House agrees to temporary relief for change-in-ownership and interest deduction limitation rules
• India
  - Chennai Tribunal finds non-compete fees constitute depreciable intangible assets
  - ITAT rules on meaning of beneficial ownership for loss carryforward purposes
• Indonesia
  - Implementing regulation issued on article 21 withholding tax
• Switzerland
  - New VAT Law adopted
• In brief
  - News in brief from the EU, Greece, Latvia, Lithuania, Poland and Portugal.
• Global Tax Alerts
  - Belgium: Circular issued on participation exemption
  - China: Transfer pricing investigations: What is the Chinese tax authorities’ new focus?
  - Iceland: New proposed tax changes presented to Parliament
  - Vietnam: Personal income tax exemption introduced for 2009

June 19, 2009
Azerbaijan introduces preferential regime for oil and gas industry

June 12, 2009
Tax accounting considerations of Obama Administration’s international tax proposals

June 5, 2009
Hong Kong issues guidance on relief from double taxation due to transfer pricing adjustment/profit reallocation

May 29, 2009
Australian Budget 2009-2010 includes international tax reform

May 22, 2009
Japan’s tax authorities issue guidance on tax deduction for securities write-downs

May 15, 2009
U.S. government delivers details – and surprises – in expanded FY 2010 budget package

May 8, 2009
Implications of Revised Accounting Law for tax reporting under German GAAP

May 1, 2009
China’s SAT issues guidance on tax residence status of Chinese-controlled offshore companies

April 24, 2009
U.K. 2009 Budget announced

April 17, 2009
Tax considerations and complexities of carve-out financial statements for U.S. reporting purposes

April 10, 2009
Tax issues triggered by debt restructuring in Belgium

April 3, 2009
Austria - Proposed changes for 2009 include expanded participation exemption

March 27, 2009
Tax reform in Denmark presented

March 20, 2009
Joint oil and gas exploitation between foreign and Chinese companies

March 13, 2009
Marks & Spencer – A landmark victory

March 6, 2009
China updates guidance on tax administration of contract projects and provision of services

February 27, 2009
Tax issues for German businesses in the recession

February 20, 2009
Impact of Annual Tax Act 2009 on German real estate investment

February 13, 2009
China announces administrative measures for super deduction of R&D expenses

February 6, 2009
Singapore 2009 budget includes stimulus package

January 30, 2009
French finance laws include cash saving measures

January 23, 2009
Implications of new Chinese special tax adjustments rules

January 16, 2009
Lithuania introduces tax changes for 2009

January 9, 2009
U.S. tax authorities issue long-anticipated cost sharing regulations