Tax-News.com: The German cabinet has approved its highly controversial EUR80bn 'future package', containing a raft of austerity measures designed to consolidate the public finances thereby promoting sustainable growth, and including significant cuts in social spending and rises in tax revenues.

Tax-News.com: Russian Prime Minister Vladimir Putin called into question Russia’s plans to join the World Trade Organisation by announcing his intention to raise import tariffs on automobiles.

Tax-News.com: A new report by Scrutiny Jersey has warned against the 50/50 balance of tax increases to spending cuts proposed under Jersey’s Comprehensive Spending Review. Discussions on the review are ongoing to achieve annual savings in government spending of GBP50m per year by 2013, and tax increases worth GBP60m per year.

Tax-News.com: Drinks giant Diageo has joined the debate on alcohol tax reform in the UK by suggesting that all drink types should be taxed at the same rate.

Tax-News.com: The Indian Commerce and Industry Minister, Anand Sharma, has disclosed that India and South Africa are to look at the possibility of establishing a bilateral comprehensive economic partnership agreement and an investment protection and promotion agreement.

Tax-News.com: It has recently emerged that the Swiss Federal Council has adopted the administrative assistance ordinance governing the implementation of administrative assistance provisions contained in either new or revised double taxation agreements in accordance with the Organization for Economic Cooperation and Development’s standard.

Tax-News.com: It has been indicated that Pakistan’s government has made a decision, in principle, to introduce additional tax measures to generate internal revenues to provide part of the funds required for the country’s reconstruction after the devastating recent floods.

Tax-News.com: Given the country’s colossal deficit and the temporary nature of the government’s plans to cut EUR10bn in tax breaks, French Budget Minister François Baroin has reportedly indicated to parliamentarians that an increase in taxation may prove necessary following the presidential elections in 2012.

Tax-News.com: The US President’s Economic Recovery Advisory Board, chaired by for Federal Reserve Chairman Paul A. Volcker, has issued a report on options for changes in the current tax system to achieve three broad goals: simplifying the tax system; improving taxpayer compliance with existing tax laws; and reforming the corporate tax system.

Tax-News.com: Despite the economic downturn, the Dubai international Financial Centre is continuing to attract companies form all over the world, especially from Asia.

Tax-News.com: Leading Indian online travel company, MakeMyTrip Limited has undertaken a USD70m Initial Public Offering on the Nasdaq Global Market, making it the first Mauritius-incorporated company to list on a major New York stock exchange.

Tax-News.com: South Africa's Minister of Mineral Resources, Susan Shabangu, attending the Paydirt Africa Downunder Conference in Perth, has said that her country would not introduce a new mining tax, as is being proposed in Australia.

Tax-News.com: After a period of consultation with industry, the Japanese Ministry of Economics, Trade and Industry has incorporated significant green elements in its tax strategy for 2011 as well as proposals designed to make business taxation more competitive internationally.

Tax-News.com: According to a report released by the United States Treasury Inspector General for Tax Administration, the Internal Revenue Service lost an estimated USD90m in revenue in the 2008 tax year because of erroneously claimed foreign earned income tax exclusions.

Tax-News.com: HM Revenue and Customs launched a new form on September 1 to enable UK corporate borrowers to inform them about a loan from a Double Taxation Treaty Passport Holder.

Tax-News.com: Hong Kong’s Chief Executive, Donald Tsang, in Moscow for a three-day visit, met with various members of the Russian government, including President Dmitry Medvedev, as well as business leaders to carry forward a growing bilateral dialogue on finance, taxation and investment matters.

Tax-News.com: The European Commission has announced the launch of a consultation on tackling cross-border inheritance tax obstacles within the European Union.

Tax-News.com: The United States Treasury and the Internal Revenue Service have stated their intent to issue guidance on the reporting requirements imposed on foreign financial institutions by the enactment of the Foreign Account Tax Compliance Act on March 18, 2010 within the Hiring Incentives to Restore Employment Act.

Tax-News.com: The United Arab Emirates’ Minister for the Economy, Sultan Bin Saeed Al Mansouri has told business leaders that the comprehensive rewrite of companies legislation is in its final stages.

Tax-News.com: Just over a year since they were launched, Jersey Foundation structures are continuing to receive a steady flow of interest, according to an offshore legal expert.