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Royal Decree-Law 9/2011 has temporary modified the VAT rate applicable to first supplies of dwellings in Spain, which has been reduced from 8% to 4% until December 31 2011. The Royal Decree-Law justifies the measure for political reasons because of the specific economic situations and the considerable effects it is intended to produce. Eduardo Gracia and Ricardo García-Borregón of Ashurst look at who really benefits.

Providing a contract of insurance in the UK without the necessary permission or exemption is a criminal offence and renders the contracts unenforceable by the provider. Robert Viney of Davies Arnold Cooper offer some advice to ensure providers of avoidance schemes are on the right side of the line.

Brazil’s economy, which expanded by 7.5% last year, remains an attractive prospect for foreign investors. Yet for those doing business in the country, the picture is not entirely rosy. Paying tax is becoming a much more difficult and precarious business. As the revenue authorities adopt a more aggressive stance, companies are increasingly facing the risk of controversy and litigation. Reuben Bard-Rosenberg investigates.

Guizhou province, China Taxpayers in China must be aware that tax officials may take into account economic substance of a company only in its jurisdiction of incorporation when applying Circular 698.

Connecticut is chasing $269 million from Amazon

As part of its continuing efforts to improve international operations, the US Internal Revenue Service (IRS) recently announced the reorganisation of its advance pricing agreement (APA) and mutual agreement procedure (MAP) programmes into a combined advance pricing and mutual agreement (APMA) programme. Kerwin Chung and Todd Wolosoff of Deloitte explain what the reorganisation, and its potential impact on taxpayers seeking APAs, will mean.

Only eight jurisdictions around the world fulfil all the elements required for effective exchange of information, G20 leaders were told at their summit in Cannes today.

Having passed through the lower house of Parliament last month, the 18 clean energy Bills are set to be voted into law by Tuesday. A final deadline had been set at November 21, and initial reports claimed next Thursday would be the big day, but things will move faster than that.

Transfer pricing activity has increased significantly in the past year in Vietnam with the government vowing to take the issue more seriously and investigate companies that are repeatedly reporting losses in the country. With a recent announcement of a pilot APA programme, Thomas McClelland, the chairman of EuroCham’s (European chamber of commerce in Vietnam) Tax and Transfer Pricing Committee, discusses what this means for businesses operating in the country.

The once-fringe financial transactions tax (FTT) has found a powerful new supporter in the founder of Microsoft.