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Read this month's special features on Turkey and GCC

Mark Lindley, head of tax at the Qatar Financial Centre (QFC), looks at investment opportunities across the Gulf Cooperation Council (GCC) as the region moves away from a reliance on oil and prepares to host global events like the FIFA World Cup. He also tackles the resultant controversy concerns that could lead to tax disputes.

Loreto Pelegrí

Alexander Linn

Rishi Joshi, associate member of the Institute of Chartered Accountants of India, analyses recent controversy and litigation on the issue of indirect share transfers.

Zeki Gündüz Turkish tax law is the subject of the most important court decision to be published in recent times. This decision is the first decision to approach European Court of Human Rights (ECHR) standards, which have been specified in literature and practised for some time now at the Constitutional Court level, and the first to make reference to ECHR property rights. The decision was made after the plaintiff, who lost his case in the courts of first and last instance, took a mistake related to the description of revenue type to the Constitutional Court by way of individual application. The facts of the case are as follows.

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.

The UK diverted profits tax (DPT) – dubbed the Google tax – has been in effect for almost a month, and Australia is looking at similar action to be included in its May 12 Budget speech, after signalling a desire to move “further and faster” than the OECD-led BEPS project. If other jurisdictions follow suit, this could drastically dilute the impact of multilateral efforts.

The chairman of India’s Tax Administration Reform Commission (TARC), which completed its work earlier this year, has highlighted an increased customer focus, the desirability to combine the country’s direct tax and indirect tax administrations, and the need for impact assessment and revenue forecasting, as examples of the organisation’s most important recommendations.

The Peruvian tax authorities have changed the period within which settlement must take place for income derived from financial derivatives to be considered sourced in Peru.