Review of Innovation Policy in the Russian Federation 2011, prepared in partnership with the Russian Ministry of Education and Science, points out a high level of education in Russia and good development in several fields of science and technology, but also mentions low level of innovation activities in companies, weak competition, and inefficient infrastructure.

Uzbekistan and Germany have held negotiations on financial and technical cooperation, where government reforms, new projects and investment were also discussed.

Two years after the completion of a pair of bilateral advance pricing agreements (“BAPAs”) for a leading Danish technology company, Danish and Chinese tax authorities have concluded a third BAPA, according to the website of the Danish Tax Authorities (“DTA”).

The European Court of Justice has upheld the European Commission’s finding that tax exemptions granted to newly-established companies in the Basque region of Spain are state aid and incompatible with the common market, and must therefore be recovered by the Spanish government.

There is plenty of potential for Guernsey to increase business flows with Russia, according to a team from the island's financial services industry which visited Moscow in the third week of May.

There is plenty of potential for Guernsey to increase business flows with Russia, according to a team from the island's financial services industry which visited Moscow in the third week of May.

Business Exchange Buzz up! Digg Print Email The U.S. tax system complies with most international standards for transparency and information exchange with other governments, a review by the Organization for Economic Cooperation and Development found.

Russia has been asked to join a key Organization of Economic Cooperation and Development (OECD) group committed to the fight against bribery, and to accede to the Organization's Anti-Bribery Convention, a move seen as an important step in Russian membership negotiations.

Switzerland needs to close loopholes in its tax law if it is to comply with international standards, according to a review to be released soon.

Amendments to Russia's transfer pricing rules, designed to improve efficiency and reduce tax avoidance, have been welcomed by the Organization of Economic Co-operation and Development (OECD), which says such changes would bring them largely in line with international standards.