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Because tax doesn’t have to be taxing. A less-than-serious look back at some of the quirkier tax stories from the past month.

Vasco Gruber Franco, head of tax for the Telefônica group in Brazil, talks to Matthew Gilleard about tax transparency, troublesome laws, and technological trials and tribulations.

Key figures at the European Commission have outlined the importance of the digital single market (DSM) as they prepare to extend the destination principle and mini one-stop shop (MOSS). Joe Stanley-Smith investigates.

The curtain is drawing to a close on the final OECD BEPS recommendations, while the OECD actors and supporting staff anxiously await reaction from the audience. This month’s Brockman brief runs the rule over the OECD’s BEPS work to date and looks ahead to see how developments are likely to impact the organisation’s reputation as the ‘go-to’ body for international tax matters.

A watershed moment is almost upon us. The culmination of two years of work, which has seen a decade's worth of ground covered and condensed into this period, now leaves us on the precipice: will the impending recommendations of the G20/OECD-driven BEPS project alter the course of international taxation forever, or will the endeavour prove to be a damp squib?

Read this month's special features for Intangibles and Norway

The debate about international tax reform has received a valuable boost from the UN’s annual investment report, argues Jeffrey Owens of Vienna University of Economic and Business.

Jock McCormack In the context of the imminent release of the OECD report to G20 finance ministers dealing with its final recommendations on the Base Erosion and Profit Shifting (BEPS) Action Plan, Australia has introduced legislation dealing with several initiatives to combat multinational tax avoidance. The principal initiative will target 'significant global entities' (those with annual global income of A$1 billion ($700 million) or more, or as determined by the Commission of Taxation) which artificially avoid a taxable presence in Australia, essentially under a scheme that was carried out for the principal purpose or a principal purpose of obtaining a tax benefit relating to the non-attribution of income to an Australian permanent establishment (PE) of the foreign entity – section 177DA. Secondly, and most importantly, the penalties applicable to significant global entities that enter into tax avoidance or profit shifting schemes have been significantly increased to potentially 120% of the relevant scheme shortfall amount (the amount of tax in dispute).

Francisco Selamé Marchant

Drilona Likaj The Government of Albania has approved some amendments to the Law on the Establishment and Functioning of Economic Zones. The amendments introduce new regulations and new tax incentives for companies operating in the free zones. According to the approved amendments, corporate income tax (CIT) will be reduced by 50% for the entities that operate in free zones for the first five years of their activity. Entities operating in free zones can calculate 20% of capital expenses incurred during the fiscal year as deductible expenses for CIT purposes within the same period, regardless of the depreciation rates approved as per the income tax law. The entities have the right to benefit from this incentive only during the first three years from the beginning of the activity and for a total of two years.