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Ersun Bayraktaroglu Baran Akan The tax environment is one of the reasons why Turkey and Istanbul are favourable locations in Europe for real estate development, despite the global financial crisis and local sensitive political issues.

Indian accountancy firm SKP Group has appointed Ranjit Kelkar as head of its indirect tax practice.

The treaty amendment will lead to greater cooperation On the April 16 2009, Cyprus and Russia signed a protocol to amend the double taxation treaty (DTT) from 1998. The final version of the protocol was signed on October 7 2010. The new protocol has received much publicity in recent months and this is not surprising since it promises to bring about significant to the two countries tax regimes. Although the 1998 DTT created a reciprocal trading and investment relationship between the two countries, Cyprus was included in 2008 in the Russian tax authorities' list of offshore states alongside 53 other countries. The list essentially barred Cypriot subsidiaries of Russian companies obtaining a tax exemption on their dividends.

The second in a series of 10 articles on tax-effective intellectual property (IP) management, Hendrik Fügemann, Philip de Homont, and Alexander Voegele of NERA Frankfurt present a case study on corporate charges.

The UK government has issued informal proposals about further changes to its Carbon Reduction Commitment Energy Efficiency Scheme (CRC).

Chinapat Visuttipat In Thailand, an annual personal income tax return is required to be filed together with any tax due by the end of March of the following year. Additional tax payable may be required by the Thai Revenue Department (TRD) while over tax withheld may be replaced with refundable tax in some situations. One situation is when the employer hires foreign staff in Thailand and that employer is a subsidiary company of its offshore parent company. In this situation, the offshore parent company assigns its staff to work under employment of its Thai subsidiary while retaining its offshore employment status. This is a dual employment contract between local employment and offshore employment with a different employer entity. The rationale of a dual contract is to retain the employment contract originated with the offshore parent company for employee's benefits, for example, social security, pension fund and employment period. The dual contract concept is not a new transaction for Thailand but the tax collector is considering heavily scrutinising proper tax compliance of, in particular, multinational companies with its subsidiary in Thailand.

Vicente Bootello In December the Spanish Government approved certain measures on tax, labour, social security and deregulation to foster investment and job creation. This legislation was enacted with a view to continuing and bolstering the policy for the growth of the Spanish economy and increasing its competitive position through measures to support business activity. The measures will govern tax periods beginning January 1 2011.

Slobodan Mihajlovic Although transfer pricing rules have existed in the Serbian Corporate Profit Tax Law since the 1992 tax reform, the concept of transfer pricing was without importance in the Serbian legislation, or in the practice of the Serbian tax authorities. However, with all the changes Serbia as well as taxpayers and tax authorities went through and especially since the financial crisis and the government's all-out attempts to locate new earning sources, it is time for transfer pricing to become an important issue for all.

Tax compliance has never been a topic that could compete in popularity with technical tax issues as far as tax practitioners were concerned. That may change in the near future. Pressure of some accounting scandals and the need of cash, pursued by the economic downturn and cost cutting operations, put the concept of tax compliance in the spotlight.

David Cuéllar José Antonio González On February 23 2010 the Republic of Panama and Mexico signed an income tax treaty. It is the first comprehensive tax treaty signed by Panama. This treaty entered into force on December 30 2010 and its general provisions should be effective as from January 1 2011. Other specific provisions, such as exchange of information, should be retroactively effective from January 2007.