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The global trends section of the programme presented by the IBA Taxes Committee in Dubai last week explored emerging trends in investment structures for India, Russia, Cyprus, Singapore and China, and examined the similarities and differences that can be found in these high-growth jurisdictions.

Closer scrutiny of the settlement of tax disputes with large taxpayers is on the way in the UK after Dave Hartnett, the permanent secretary for tax at HM Revenue & Customs, made proposals yesterday for how the authorities should deal with such arrangements in the future.

Recent guidance has been released, in the form of Circular No. 19/2011/TT-NHNN, specifying the process by which Vietnamese entities may issue international bonds, and the foreign exchange requirements arising from such issues. Corporate income tax and foreign contractor tax issues may arise as a result of international bonds issuances and more robust rules in this area may allow for new planning opportunities.

Mark Mendola has been named as PwC’s US tax leader, and as a vice chairman of the firm. He succeeds J Richard Stamm, who is named vice chairman, tax, for the PwC network.

Many jurisdictions have systems in place to tax multiple companies together as if they were a singular taxable unit. But how do approaches to group taxation vary in different parts of the world?

Australia’s plan to tax carbon emissions was given the final seal of approval today, but critics are still concerned that it will cost too much and generate few benefits.

David Gillon, representative of HMRC in the UK and the Joint International Tax Shelter Information Centre (JITSIC), told delegates at the IBA annual conference of the benefits that JITSIC is providing.

An Indian high court ruling has clarified one of the important issues surrounding tax holiday computation when a holiday period has ended.

President Obama has released his plan to cut the US federal deficit by more than $4 trillion over the next decade, in part by undertaking tax reforms that are projected to raise approximately $1.5 trillion over the next 10 years.

The amended CIT Act imposed new documentation requirements on payments of income to foreign entities that seek tax exemptions.