Tax Newsletter No 21 - December 2011

In this issue we present the following topics:

• VAT: Settlement of utilities costs when renting premises – re-invoicing or rent component? 
• CIT / Transfer pricing: Risks related to the adjustment of transfer prices at the end of a fiscal year 
• CIT: necessity of proper documentation of expenses for purchase of intangible services 
• PIT and social security on gifts to employees 
• International tax law: entry into force of agreements with the Isle of Man