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Elias Neocleous Costas Stamatiou The Cyprus government's proposal to reduce the tax burden on companies engaged in international maritime transport by introducing a special tax regime for them has received approval from the European Commission.

Matija Repolusk, Wolf Theiss, Ljubljana Gregor Zorman, Wolf Theiss, Vienna On 29 December 2009, the amendments to the Slovenian Tax Procedure Act (Zakon o spremembah in dopolnitvah zakona o davcnem postopku) were published in the Official Gazette of the Republic of Slovenia, which introduces a new chapter III.a (Articles 383b to 383g) regarding withholding tax on income from materialised and dematerialised financial instruments, if such income is paid to a person who receives it for the account of a third party. These new rules will become applicable on July 1 2010. Until then, further regulations providing more detailed rules are expected to be adopted.

Mexico has very good wind resources for power generation in the Isthmus region, Baja California, and Tamaulipas. The Isthmus is one of the most wind energetic places in the world due to the different atmospheric pressures in the Golf of Mexico and the Pacific which generates steady strong winds mostly from the north (Golf). Plant factor in such region is close to 50% which means you can achieve an average yearly power production during approximately 4,380 hours at rated capacity. This is a very large by European standards.

Law 196 of December 31 2009 introduced a major reform to the public accounting and financial system. The new accounting law aims at harmonising the structure of budgets and the accounting rules applicable to the public sector.

On March 23 this year, Indonesia eventually signed a tax treaty with Hong Kong which was one of the blacklisted countries pursuant to old Indonesian Controlled Foreign Corporation rules. Although Indonesia has signed a tax treaty with China in 2001, Hong Kong was not covered in that treaty.

Francisca Perez, Morales Besa & Abogados After several years of negotiations, last February 4 the governments of the US and Chile signed a double taxation treaty with respect to taxes on income and capital. This convention will integrate the Chilean treaty network of over 20 agreements as of this date.

Indonesia’s voluntary pre-merger regime failed and notification is now mandatory. But the new rules could be counter-productive

In the wake of financial market turmoil, Austrian banks have rediscovered the appeal of participation capital – an Austrian law-specific instrument for increasing the core tier one ratio and enhancing risk-bearing capacity. Almost all major Austrian credit institutions (except Unicredit) have issued participation capital over the last year, drawing on the state's assistance under the Austrian financial market stability scheme (because participation capital was either in whole or in large part subscribed by the state as investor).

Opinion amongst lawyers is divided on how far law firms and accountants should go when looking beyond standard legal opinions

US law firm of the year