08.01.2007 The audit, tax and advisory firm, KPMG LLP, has announced the establishment of the Tax Governance Institute. This will be an open forum for board members, stakeholders, management and government representatives aimed at exploring and debating aspects of tax oversight and management - tax risk, control and reporting includingly. The Tax Governance Institute will bring together interested parties to discuss tax matters regarding both day-to-day and long-term management of corporate tax risk. The official launch will take place on January 16, 2007. The Web site of the Tax Governance Institute will be a crucial component of the on-going dialogue across many audiences.

09.01.2007 The officials of India and Mauritius will hold talks on changes to the Double Tax Avoidance Treaty between the 2 countries. India worries about abuse of the residence rules under the Treaty, which is holding up full implementation of a Comprehensive Economic Cooperation and Partnership Agreement signed in 2007. Indian tax officials hope that Mauritius will stiffen the requirements for tax exemptions under the DTAA. Also, they point to a new protocol that came into force on January 1, 2007 and has been added by Mauritius to its treaty with China under which capital gains arising in Mauritius on the sale of Chinese assets will be subject to a 10% tax in China in some circumstances. The Indian tax authorities are afraid that a practice known as "round-tripping" could be used when short-term stock market gains would be sheltered in Mauritius by Indian traders.

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