Top 10 Tax Headlines from Europe The Finance Act 2009 introduced new rules regarding the taxation of foreign profits with the aim of maintaining the UK's competitive position in the global economy. In this article we consider the impact of these changes for investment trust companies and authorised investment funds. The development, transfer, and licensing of intangibles are partand parcel of cross-border transactions among related parties. Theallocation of costs and revenues, risks and chances, has afundamental impact on the tax liability of multinational companies. In R (on the application of Prudential plc and another) v Special Commissioner of Income Tax and another an English court has held that legal advice privilege does not extend to cover advice about law (e.g. tax law) given by accountants. Decree-Law nr. 249/2009, of September 23, has been published yesterday in the Diário da República, the Portuguese Official Journal. The Gibraltar tax year runs from the 1st July to 30th June and on 25 June the Chief Minister Peter Caruana delivered his budget speech to reflect on the performance of the Gibraltar economy and set out the Government’s budget proposals for the fiscal year ending 30 June 2010. Carbon credits are licences to emit carbon dioxide or “permits to pollute”- and are seen as a vital weapon in the battle against climate change. There is no internationally accepted definition of e-commerce. The department of trade and industry have proposed to the OECD the following definition: Portuguese Tax Authorities have recently published a binding information, on Procedure No. 1239/2007 by decision of the General Sub Director of Taxes, of July 18, 2008... In 2007, as a result of HMRC receiving information from five major UK banks with offshore subsidiaries, HMRC offered an Offshore Disclosure Facility (“ODF”) which was designed to allow those people holding offshore accounts to declare those accounts and put their tax affairs in order. The primary tax concerns for property owners include income tax, loss relief, CGT and deductible expenses. | 
