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Italy has revamped its tax systems in an effort to compete with other EU countries. Giampaolo Còrabi and David MJ Turner-Kerr of Studio Legale Sutti question whether the reforms will achieve their aim

Despite increasing demand for power in Italy, investors are reluctant to finance the country's power projects. Paolo Esposito of Allen & Overy looks at why they are so hesitant

Legislative activity in Russia is high, with new laws introducing change in areas such as foreign exchange and real estate transactions. In exchange control, the new rules discard many of the complex regulations covering deals involving foreign currencies, introducing a more permissive system for foreign currency dealings. In real estate, a recent code sees the state taking a less active role in land deals and makes it easier for international corporations to buy property in Russia. However, legal problems remain for both local and foreign investors. The articles in this client guide review some of the opportunities and risks facing those doing business in Russia.

There are some aspects of Estonian legislation that a foreign investor could pay more attention to when buying and financing real estate. Erki Kergandberg of Law Office Aivar Pilv outlines a few of them

By Egons Pikelis of Klavins & Slaidins LAWIN, Anton Sigal of Lepik & Luhaaar LAWIN, and Laimonas Skibarka and Sergej Butov of Lideika Petrauskas Valiunas ir Partneriai LAWIN

Valters Gencs of the Law offices of Valters Gencs provides an overview of the types of share buyout offer made in Latvia and how the rights of minority shareholders are protected

Marina Tolmatshova, Ieva Smilgaine and Arunas Sidlauskas of Roschier Raidla provide an overview of income and value-added tax regimes for companies established in Estonia, Latvia and Lithuania

Amendments to the Reits Act should spark activity in a market that has been slow to take off, say Yon Kyun Oh and Kwon Lee of Kim & Chang

Charles Temkin of Shaw Pittman explains why complex and sometimes petty regulations can trip the unsuspecting, and can even lead to the loss of Reit status

Albert Birkner of Cerha Hempel Spiegelfeld Hlawati explains the workings of the Austrian Takeover Act