Global Dispatch - April/May2007

China Approves Long-Awaited Corporate Income Tax Reform -- Belgium Planning Special Tax Deduction for Patent Income -- Denmark Considering Significant Limitations on Interest Deductibility, Other Provisions -- France to Recognize Tax Transparency of Foreign Partnerships -- France, U.S., Reportedly Discussing New Income Tax Protocol -- European Commission Reviewing Hungarian Intra-Group Interest Taxation -- Italy Amends Parent Subsidiary Directive -- Malta Introducing Participation Exemption -- Russian Transfer Pricing Rules Undergoing Major Transformation -- UK 2007 Budget Report Released -- 2007 Japanese Tax Reform Enacted -- Canada Introduces Sweeping Changes to International Tax Rules -- Mexico Allows UK, Brazilian Broker Dealers Reduced Interest Withholding -- Mexico Clarifies Maquiladora PE Exemption -- Mexico–Canada Income Tax Treaty in Force -- U.S., Brazil Sign Info Exchange Agreement; U.S.-Netherlands Antilles Info Exchange in Force