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As the global crisis spreads, public companies across the world are being targeted by a variety of recommendations and codes that are imposing best practices for new compensation.

Slobodan Mihajlovic Panayiotis Diallinas VAT has been in Serbia since 2005. The threshold for obligatory registration for VAT is approximately €40,000 ($55,000). The general rate of VAT is 18% and the same rate applicable on income gained from renting a property.

Jean-Marc Cambien The EU VAT Directive allows member states to treat, under certain conditions, a transfer of a totality or part of assets as an operation outside the scope of VAT. Such provision thus allows certain business reorganizations to happen in principle without a VAT cash flow impact.

David Cuellar Cesar Salagaray On June 30 2011, August 9 2011 and October 10 2011, modifications to the Miscellaneous Foreign Trade Rules were published in Mexico's official gazette. The tax effects for foreign principals (acting under a maquila structure in Mexico) have been a recurrent matter of discussion and analysis since its publication.

Hélène Rives Alexa Lecoeur The Amended Finance Act for 2011 was voted after an unusually quick legislative process in September 2011. It contains two main measures for companies.

Loreto Pelegrí Haro Trinidad Fernández Gurruchaga According to Article 59 No 1 of the Chilean Income Tax Law (ITL), interest remitted abroad is subject to additional withholding tax.

Janette Pantry Rebecca Levi A recent decision of Canada's Federal Court of Appeal considered the non-discrimination provision of the Canada-UK Tax Convention finding that it did not apply because the Canadian domestic legislation in question discriminated based on residency rather than nationality. The Federal Court of Appeal confirmed that Canada is not prohibited under the treaty from discriminating against taxpayers based on their residency.

Ian Farmer The Australian government is developing an investment manager regime (IMR) to remove tax impediments and uncertainty, while providing incentives to improve Australia's prospects of becoming a financial services hub.

Eylem Philippou Drilona Likaj The income tax treaty that was signed back in October 2009 for the avoidance of double taxation and prevention of fiscal evasion between Albania and Ireland entered into force on July 12 2011 and will be applicable from January 1 2012.

Piet Vandendriessche and Nigel Mellor of Deloitte find that while VAT in the US is still unlikely soon, taxpayers should be alert to the possibility.