DECEMBER 20, 2011 | having difficulty Viewing this email? view THE online version

Welcome to the weekly newsletter, carries topical headlines and features on international tax, legal, economics, business and investment issues.



Latest Special Feature



Transfer Pricing

Facing record deficits and unsustainable levels of debt, governments have spotted an opportunity to raise some easy cash from multinational companies through more frequent scrutiny of transfer pricing practices, and this has become the top tax issue facing business groups trading across national borders.


While transfer pricing rules have evolved considerably around the world in recent years, and more countries now tend to follow guidance set down by the Organization for Economic Cooperation and Development (OECD), there is still no uniform standard or practice that tax authorities follow when conducting transfer pricing audits, and in the increasingly globalized world of trade and international finance, this is leaving many companies vulnerable to attack.


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Latest Tax News


US Tax Cut Fight Goes Down To The Wire

The fight to extend a temporary payroll tax cut for US workers has gone down to the wire after House Republicans refused to accept a compromise deal approved overwhelmingly by the Senate.
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Ireland's Recovery Firming

The International Monetary Fund has welcomed an improvement in Ireland's fiscal position following authorities' efforts to stabilize the banking system and achieve the 3% of Gross Domestic Product deficit target by 2015.
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Canadian Budget Measures Enacted

Canadian Finance Minister Jim Flaherty has announced that several tax measures announced as part of the 2011 Budget in June have received Royal Assent.
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Russian WTO Bid Approved

World Trade Organization member states approved Russia's bid to become a WTO member at the 8th Ministerial Conference held in Geneva on December 16, 2011.
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Taiwan, New Zealand To Study ECA

The New Zealand Commerce and Industry Office in Taipei and the Taipei Economic and Cultural Office in Wellington have agreed to begin a joint study on the feasibility of an Economic Cooperation Agreement between New Zealand and Taiwan.
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