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TAX NEWS - JULY 2010

IRS Tax Tips: IRS Summertime Tax Tip 2010-05 - Six Tax Tips for New Business Owners
Hong Kong Tax: Hong Kong SAR Signs Comprehensive Double Taxation Agreements with U.K. and Ireland
Georgia Tax: Guidance issued on procedures to obtain tax treaty benefits
Romania tax: Emergency tax measures adopted
Russia Tax: Thin cap rules may be applied to foreign sister companies
World Tax News
Tax treaties
Australia Tax: Resource super profits tax replaced by new minerals resource rent tax and expanded petroleum resource rent tax
France Tax: Withholding tax on dividends paid to foreign UCITs contrary to EU Law
Gibraltar Tax: Record budget surplus and continued economic growth allow further tax reductions in 2010 Budget
Luxembourg Tax: Chamber of Commerce contribution challenged
Tennessee Income / Franchise Tax: New law requires captive REITs to add back dividends paid deduction and file combined return with affiliates
Washington Sales / Use Tax: Revised rule implements new law limiting application of bad debt credit / refund
Canada Tax: Canada Revenue Agency revokes the charitable status of Tamil (Sri Lanka) Refugee-Aid Society of Ottawa
IRS Notice 2010-39: New Requirements for Tax-Exempt Hospitals
Affordable Care Act Tax Provisions - IRS Tax
US Tax: Back from recess, lawmakers keep tax agenda largely in the talking stages
U.S. Tax: Interim final rules address preventive health service coverage required by recent reform
Oklahoma Income / Franchise Tax: New law decouples from IRC §108(i)
Oklahoma Sales / Use Tax: New law imposes remote seller nexus requirements & related amnesty-type provisions
Canada Tax: New waiver procedures related to employer withholdings
Australia Tax: Clarification of employee share plan reporting requirements
Alabama Tax: Joe Walls Appointed Taxpayer Advocate
Additional Steps are Needed to Prevent and Recover Erroneous Claims for the First-Time Homebuyer Credit
Errors, Fraud Still Occur in First-Time Homebuyer Credit Program
SEC to Publish for Public Comment Proposed Rules for Clearly Erroneous Trades
US Tax: Baucus revises carried interest, S corp offsets in new extenders package
SEC Proposes New Measures to Help Investors in Target Date Funds
Alabama Tax: Alabama Department of Revenue Huntsville Taxpayer Service Center Moves to New Location
US Tax: House OKs tougher GRAT rules to bankroll small-business tax incentives
Canada Tax: Canada signs TIEAs with Bermuda and St. Kitts and Nevis
IRS Tax: IRS Accepting Applications for Low Income Taxpayer Clinic Grants
SEC, Quebec Autorité Des Marchés Financiers and Ontario Securities Commission Sign Regulatory Cooperation Arrangement
Canada Tax: Protecting the money you give to charity
Italy Tax: Italy approves draft decree on documentation requirements
Canada Tax: Crown clarifies grounds for appeal in GE Capital Canada's guarantee fees case
Sweden Tax: Sweden introduces bilateral and multilateral Advance Picing Agreements (APAs)
Australia issues draft ruling on business restructurings
Italy Tax: Italy's Revenue Agency issues first report on APA program
Thailand Tax: Thailand releases APA guidance
Vietnam Tax: Vietnam introduces new transfer pricing guidelines
China Tax: China considers innovations in anti-avoidance administration
Most Unpaid Taxes of Participants in the Troubled Asset Relief Program Have Been Resolved
SEC Charges Former Chairman of Major Mortgage Lender With $1.5 Billion Securities Fraud and Related TARP Scheme
SEC Charges New York Based Money Manager and Firm Touting Ties to Belgian Royal Family
U.S. Tax: Senate extenders amendments pile up as Baucus eyes changes to S corp offset
US Tax: Levin proposes tougher GRAT rules to bankroll small-business tax incentives
IRS Tax: IRS Notice 2010-49
IRS Tax: IRS Notice 2010-50
Florida Corporate Income Tax "Piggybacks" 2010 Internal Revenue Code
France Tax: France issues consultation document on transparency treatment of partnerships
Argentina tax: Tax Incentives proposed for software industry and export of professional and technical services
Colombia Tax: Preparing for new net equity tax
European Union Tax: ECJ rules Spanish treatment of dividends incompatible with free movement of capital
European Union Tax: Finnish dividend withholding tax legislation referred to ECJ
Germany tax: Guidance issued on reporting requirements on foreign investments
Indonesia VAT: Certain export services subject to 0% VAT
France Tax News
Namibia Tax News
Australia Tax: Exposure draft issued on introduction of anti-roll-up rule for foreign accumulation funds
Brazil Tax: Tax havens list expanded, list of privileged tax regimes added
European Union Tax: ECJ limits Dutch denial of Merger Directive benefits