ITS Global Dispatch, August 2012

Canada releases legislative proposals to implement 2012 federal budget -- Australia enacts major transfer pricing law changes -- China to expand VAT pilot program to 8 more locations, including Beijing -- India issues tax policy announcements to address business concerns -- Japanese Diet passes consumption tax reform bill -- Taiwan to reinstate capital gains tax on Taiwan securities trading -- Denmark considers bill whereby all loans from companies to shareholders considered non-repayable withdrawals, i.e., dividends, contributions or salary income -- France's Second Amended Finance Bill for 2012 final -- Italian Supreme Court rules on PE issue related to Italian company acting as commissionaire for Dutch principal -- Israel considers temporary benefit on repatriation of funds