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  • Marks & Spencer has come out on top of the latest decision in its loss relief litigation, one of European tax law's most prominent cases, though a portion of its claims were ruled out of time.
  • India's Customs, Excise & Service Tax Appellate Tribunal has ordered JetLite, an airline, to pay a Rs1 billion ($21 million) deposit in its outstanding service tax dispute with the tax authorities over its promotion of Sahara India Commercial Corporation's business
  • The development of the UK's £2 billion ($3.2 billion) video games industry is under threat after the new coalition government withdrew tax breaks promised to the sector by the previous administration.
  • Congress last week abandoned plans to introduce a tax on financial institutions that was forecast to raise $19 billion over the next five years.
  • Executives responsible for the Asia-Pacific region often claim they have the most difficult job in the tax department. And this claim seems justified.
  • Robert Kirschenbaum will join the law firm of Miller & Chevalier to handle transfer pricing planning and related controversy matters.
  • Germany and France will ask the European Commission to consider a European financial market transaction tax after the plan for it to be introduced worldwide was largely dismissed by the G20.
  • Taxpayers in Vietnam are advised to review the status of their loss carry forward for losses incurred before and after the country introduced new rules back in 2009.
  • The European Commission asked the court for a declaration that the UK is in breach of European law because it does not allow traders from outside the EU to recover input VAT on financial services and insurance transactions.
  • Anglo American Australia last week signed an annual compliance arrangement with the tax authorities in relation to the company's goods and service tax obligations.
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