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This year's TP supplement focuses on the developments that the OECD's base erosion and profit shifting (BEPS) project have brought to international tax and transfer pricing.

Michael Patton and Oscar Burakoff of DLA Piper describe the issues taxpayers can expect with supply chain planning after the OECD has released its final BEPS guidance.

María Carolina Camargo and Lorenzo Gálmez of PwC Chile explain how BEPS provisions are changing the avoidance and evasion regulations in Chile.

The latest international updates from our correspondents around the world.

China’s State Administration of Taxation (SAT) recently issued a notice regarding payments involving related offshore parties. China has openly declared its plans to crackdown on tax evasion, so the issuing of new regulations come as no surprise.

David Jakovljevic Croatia and the UK have signed an agreement for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income and on capital gains. The agreement was duly signed on January 15 2015 and will enter into force when both countries complete their parliamentary procedures and exchange a diplomatic note, which is expected by the end of 2015. The agreement applies to persons who are residents of one or both contracting states and covers (i) the taxes on income and on (ii) capital gains imposed on behalf of a contracting state, irrespective of the manner in which they are levied. The agreement is expected to facilitate an increase in direct investments between Croatia and UK.

Bob van der Made When it presented its annual Commission Work Programme for 2015 on December 16 2014, the European Commission (EC) stated that it would also clamp down on tax evasion and tax avoidance to ensure that taxes are paid in the country where profits are generated. Initially, the Juncker Commission's priorities focused heavily on the theme of 'jobs and growth'. However, under pressure from the European Parliament and media reports in the third quarter of 2014, the Commission has made the fight against tax evasion and avoidance one of its top political priorities for 2015. A number of important legislative and non-legislative EC initiatives have therefore been rolled out from March onwards. On March 18 2015, the EC published a new 'tax transparency package' consisting of three elements.

Chris Harker

Fiona McClafferty In a region famous for its oil and the perception of widespread tax-free living, international tax agreements have generally made little difference to those in the Middle East. However, times are changing. The effects of Foreign Account Tax Compliance Act (FATCA) and soon, the Common Reporting Standard (CRS), championed by the Global Forum on Transparency and Exchange of Information for Tax Purposes, will mean much more cross-border information exchange.

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.