October 2016

Main

Editorial

Public audit scorecards: Why not?

Deals of the month

Politicians and EU officials named in Bahamas data leak

Panama Papers to claim more victims as Denmark buys data

India’s tax plans steaming ahead as GST Council gets approval

EU nations losing billions in uncollected VAT

Philippines planning a tax amnesty scheme

Americas Tax and Transfer Pricing Awards 2016

Multinationals and the EC engulfed in state aid disputes

Apple Q&A: Kennedy condemns Commmision’s decision

The driving force of Margrethe Vestager

The great US tax debate: Will the next president embrace reform?

Special features - October 2016

Argentina: Tax promotional regime for energy generation through renewable sources

Australia: An overview of recent tax developments in Australia

Bosnia and Herzegovina: Bosnia and Herzegovina amends rules on counteracting money laundering and terrorist financing

Brazil: Brazil releases public consultation on mutual agreement procedures

Bulgaria amends VAT Law to combat fraud

Canada: Canada introduces debt-parking rules to prevent avoidance of foreign exchange gains

Chile: Chilean investors should check their tax residence

Croatia: Croatia publishes new bylaw on the automatic exchange of information

Cyprus: Cyprus amends property taxes and fees

Germany: Tax neutral cross-border downstream merger

India: Recent notable advance rulings in India

Indonesia: Tax treatment for having special purpose vehicles under the tax amnesty scheme

Italy: The new Italian ‘White List’ – tax opportunities for foreign investors

Luxembourg: Luxembourg introduces new alternative investment fund vehicle

Malta: Malta and securitisation cell companies

New Zealand: New Zealand government releases discussion document on tackling hybrid mismatches

Poland: International assignments – new labour law and standpoint of tax authorities

Romania: VAT compliance and reporting trends in Romania

Russia: Russia amends tax laws to involve taxpayers in audits with higher tax authorities

Spain: New tax regime applicable to capital gains due to change of residence

Switzerland: Geneva State Council releases plan on how to implement Corporate Tax Reform III

US Outbound: EC state aid investigation into tax rulings between a US multinational and Ireland

Tax Relief

International updates - October 2016

International Correspondents

Features

New Analysis

Tax Relief

Special Features

Editorial

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India: Recent notable advance rulings in India

A scheme of obtaining advance rulings has been in place in India since the early 1990s to help taxpayers better plan their affairs and to help prevent long and expensive litigation. Although this is a useful tool, there have been practical challenges and delays in obtaining advance rulings over the last few years. As a result, rulings which are required to be issued within six months are taking more than four years.

Hariharan Gangadharan, October 10, 2016