Ernst & Young Monthly News November 2007
E-News
(PDF, English, 346 kB)
Executive summary / Feature article: The SEC proposal to eliminate the reconciliation of IFRS to US GAAP / Interview: Real estate sales: the end
of construction contract accounting? / Technical focus: FASB and IASB joint project on lease accounting; IASB highlights / Resources
(PDF, English, German, French, 70 kB)
Purchasing of real estate by foreign and foreign-controlled companies
(PDF, English, German, French, 484 kB)
Editorial / International Tax Law: US Tax Desk: Proposed Legislation to Deny Treaty Benefits on Deductible Payments to Certain Foreign Related Parties;
Double Taxation Treaties (DTT): Latest Developments; Taxation of Transfer of Functions in Germany / National Tax Law: Modification of a Previously
Implemented Taxation Decision; Indirect Partial Liquidation – Amendments to Circular 14; New Practice to Avoid «Tax Allocation Losses»; Switzerland
joins the Hague Convention on the law applicable to trusts and on their recognition and issues a nonbinding Directive on trust taxation
(PDF, English, 154 kB)
The new Corporate Income Tax Law was passed on March 16, 2007 and will become effective January 1, 2008. It has introduced new concepts, but
detailed explanations are to be supplemented by the Corporate Income Tax Law Implementation Regulations. This Tax Alert refers to the latest draft of the
Implementation Regulations dated October 19, 2007 and summarizes the most important issues for Swiss based multinationals with operations in China.