Tax Court of Canada issues landmark decision on "beneficial ownership" -- Argentina unilaterally terminates tax treaty with Switzerland -- Argentine tax authorities implement new "Early Import Declaration" mechanism -- Mexico reorganizes Certified Company Program; tax consequences for IMMEX companies -- Mexican tax refund opportunity for international airlines operating in Mexico --Belgium-Democratic Republic of Congo tax convention in force; Congo's first tax treaty -- Danish exposure draft includes important changes to company taxation -- Irish government publishes Finance Bill 2012 -- Indian tribunal rules on characterization of entities' activities for transfer pricing purposes -- Indonesian regulation affects MAP and APAs

Indian Supreme Court rules in long-awaited Vodafone case -- New Japan-Netherlands tax treaty effective -- Japan-Swiss tax protocol effective -- Korea revises tax laws -- Irish Budget reaffirms 12.5% corporate tax rate -- Israel raises tax rates, other changes -- Italy enacts austerity measures, positive tax changes -- Italy clarifies unlimited carryforward; applies to losses from 2006 -- New tax regime applies for Portugal's Madeira International Business Center -- Spain increases tax rates for 2012 and 2013 -- Brazil adopts adjustment mechanism on transfer prices of export transactions

New Switzerland-Netherlands tax treaty effective January 2012 -- Norwegian National Budget for 2012 contains major tax proposals -- Portuguese 2012 Budget Act proposals will impact cross-border transactions and foreign investment -- Angola proposes transfer pricing documentation rules -- New UK –South Africa tax protocol enters into force -- China announces new Shanghai VAT pilot to replace business tax -- Changes to Japan’s transfer pricing legislation effective -- Malaysia’s 2012 budget contains corporate tax incentives -- Colombia eliminates restrictions on foreign debt; intercompany loans now possible

Australian Treasury releases draft legislation for extending Petroleum Resource Rent Tax -- Australia releases shipping industry tax reform package; zero rate for Australian ship operators -- Hong Kong Inland Revenue considers R&D must be carried on directly by taxpayer for deduction -- Hungary submits 2012 tax bill to Parliament -- Draft Russia-Luxembourg protocol details available -- Canadian panel issues final R&D recommendations -- Mexico's IETU tax credit for maquiladoras extended

Dutch Finance Ministry releases FY 2012 budget proposals -- French National Assembly and Senate approve Second 2011 Amended Finance bill -- Israel excludes certain related party financing from transfer pricing rules -- China requiring foreign nationals to participate in social security system -- Indian transfer pricing cases address "associated enterprises" and cost contribution arrangements -- Taiwan defines amortizable "business rights" -- Brazil again amends Financial Transactions Tax (IOF) -- Colombia - Switzerland treaty to take effect

Canadian MAP report reflects greater transfer pricing audit activity -- Mexican court issues first pro-taxpayer transfer pricing ruling -- New VAT rules for Mexican Maquiladoras -- France announces budget, tax measures to reduce deficit -- Italy issues guidance on outbound dividend withholding taxes -- Italy amends corporate income tax surcharge for energy industry -- Spanish Tax Court denies participation exemption benefits to Brazilian interest on net equity payments (JsCP) -- Spanish Decree contains temporary corporate tax, VAT measures -- Turkey announces first APA -- Turkey, Malta sign first-ever tax treaty -- Indian transfer pricing audits indicate increased focus -- Malaysia gathering information on transfer pricing -- Vietnam intensifies focus on transfer pricing

Dual challenges to Dutch fiscal regime may be of importance to multinational groups -- Recent Indian transfer pricing rulings of note -- Japan enacts certain tax reform measures -- Thailand enacts tax incentives for international procurement centers -- Colombia introduces 1% self-withholding on exportation of hydrocarbons and mining products -- Dominican Republic issues transfer pricing regulations

OECD proposes clarifications to term "beneficial owner" in Model Treaty -- Norwegian court puts commissionaire structures at risk -- Australian government issues 2011-12 federal budget -- China focusing on financial services transfer pricing -- Hong Kong court issues favorable offshore profit decision -- Japan releases circular on corporate tax treatment of damages from March disaster; procedures to finalize 2011 tax reform on hold -- Brazilian government issues thin capitalization guidance -- Tax Court of Canada renders important transfer pricing decision

Dutch government publishes important tax policy paper -- Ireland-Singapore treaty moves forward -- Israeli tax exemption on Makams and government bonds to be abolished -- Draft Italian decree on "European attraction tax" released -- Luxembourg issues guidance on intra-group financing -- Norway presents White Paper on tax-free cross-border reorganizations -- Turkish Commercial Code published in Official Gazette -- Brazil removes Luxembourg holding companies from privileged tax regime list -- Brazil again increases tax on financial transactions -- EY learns details on PRC plans for transfer pricing adjustments

European Commission releases proposed directive on common consolidated corporate tax base (CCCTB) -- Dutch government publishes Decree on attribution of profits to permanent establishments -- OECD scoping paper released on transfer pricing for intangible property -- Spain, Germany sign new tax treaty -- UK 2011 Budget released -- HK denies deduction for plant and machinery used under import processing arrangement -- India releases Union Budget for 2011-12 -- Japanese transfer pricing assessments rising, APA tracking increases -- Japan’s proposed 2011 tax reform addresses transfer pricing -- Singapore's 2011 Budget delivered -- Comprehensive Mexican tax reform bill submitted