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  • Michela Chin Mark Conomy On September 30 2015, the executive branch of the Brazilian Government released Provisional Measure 694/2015 (PM 694). Among other items, PM 694 amends the relevant legislation concerning the withholding tax applicable to payments of interest on net equity (INE) as well as introducing a further limitation in relation to the calculation base for such payments.
  • Igor Vujasinovic On October 14 2015, the House of Peoples of Bosnia and Herzegovina (Upper House of the Parliament) approved the tax treaty signed between Bosnia & Herzegovina and Poland. The treaty was signed in June 2014, and was ratified by Poland on April 8 this year.
  • Melissa Lim In the context of the October 5 release of the final package of measures relating to the BEPS project, the Australian Government has signalled its commitment to the BEPS process as evident in the new Treasurer's October 6 media release. The Treasurer highlighted that "Australia is firmly on the right track" in supporting the BEPS measures and outlined Australia's responses to the BEPS action items to date.
  • Drilona Likaj In 1999, Albania and Switzerland signed an agreement, the main aim of which was the avoidance of double taxation. The general objective of this kind of agreement is to ensure individuals and companies operating and residing in both countries pay the relevant taxes only once, therefore reducing their fiscal burden and facilitating their economic activities.
  • In a BEPS seminar organised by the Federation of Enterprises in Belgium this week, with a special focus on the practical consequences for Belgian enterprises, a representative of the Belgian Ministry of Finance, Steven Van Elsuwé, provided more details on the new legislative proposals that have been prepared so far, and on the different options that are currently under review.
  • Bär & Karrer has appointed Susanne Schreiber as partner and co-head of its tax practice group in Zurich, Switzerland.
  • Vitthal Dehadray of Franklin Templeton Asset Management and Rajeshree Sabnavis of BMR & Associates look at the emerging direct tax debates impacting the asset management industry in India.
  • The combatting of cross-border tax evasion is a priority for governments and the automatic exchange of taxpayer information between countries is now seen as fundamental to addressing it. It is out of this objective that the Common Reporting Standard (CRS), which facilitates the automatic exchange of information (AEoI) at a global level, has evolved. Mariano Giralt, Chris Mitchell and Bronwen Noble of BNY Mellon assess the impact of these initiatives on the financial services industry.
  • Jeffrey Owens, director of the Global Tax Policy Centre at the Vienna University of Economics and Business (WU) Institute for Austrian and International Tax Law (IAITL) and former OECD tax chief, and Nathalie Bravo, research associate at the IAITL, explore the role of a multilateral tax instrument in implementing BEPS Project measures, and analyse the treaty issues and technical challenges to be overcome.
  • In its final BEPS release the OECD removed the recommendation for mandatory arbitration after objections from non-member developing countries. The option of arbitration remains under discussion, however, at UN Tax committee.