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The Australian Tax Office (ATO) has released new guidance on its advance pricing agreement (APA) programme.

European Commission

Hong Kong has introduced significant changes to its intellectual property (IP) regime that will promote wider application of IP and encourage the development of creative industries.

Pranab Mukherjee is confident of a 2012 effective date India's GST is looking increasingly likely to be introduced next year after the government approved the Constitutional Amendment Bill.

Peru has tweaked its tax system with two provisions which should complement its fiscal year 2010 growth.

Tax advisers' jobs are under threat and taxpayers need to rethink the way they structure their European operations.

Robert Bridson has left Deloitte to join PwC as a a partner in its financial services (FS) tax business as a partner.

Murat Colakoglu Can you recall how many times you have asked someone to forgive you? Your mother, father, friend or spouse? Of course you are not supposed to remember. Human nature tends to make us suppress the occasions on which we beg forgiveness when in the wrong. As we say in Turkish, haf¦za-¦ beser nisyan ile maluldür (forgetfulness is the frailty of the human mind). We can forget anything. If we want to.

Slobodan Mihajlovic Serbia has one of the lowest corporate income tax rates in Europe with a 10% rate. Due to the financial crisis, some of the tax incentives were abolished with the latest changes of the Corporate Tax Law. For example, instead of 10 years, as prescribed by the previous Corporate Income Tax Law, the loss carry forward period is now five years. However, the tax legislation still prescribes a number of tax incentives such as:

Agnieszka Bienkowska The Polish administrative court recently ruled on the the issue of VAT refunds which Poland is obliged to give to non-Polish entrepreneurs based on the 8th EU VAT Directive. According to the directive, as well as the corresponding Polish regulations in force before 2010, VAT refund claims submitted by foreign entities should have been processed and refunds should have been granted no later than six months from the claim submission day. Polish law provided, however, that the tax authorities may prolong this deadline if they believe an additional verification of the claim is required. There was also no clear provision that would allow applicants to claim interest, if the refund proved justified. This often meant it took years to get a VAT refund in Poland. Not being obliged to pay interest, the Polish tax authorities were using every single formal inaccuracy to prolong the refund deadline.