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Khoonming Ho

Jock McCormack Australia finished 2014 with a flurry of ATO rulings, three significant judicial decisions (one each on income tax/royalties, GST and stamp duty) and a backlog of important tax reforms including to the Managed Investment Trust regime, broader trust reforms and further tax consolidation integrity rules. Briefly, in Commission of State Revenue (Vic) v Lend Lease Development Pty Limited, the High Court held that the consideration for the transfer of land in Victoria included contribution payments and other construction covenants payments made under a development agreement in respect of works carried out after acquisition, as well as the price for the land transfers.

Rajendra Nayak

Donald Vella

Benno Suter

With only one financial quarter left before Malaysia rolls out its 6% goods and services tax (GST), Subromaniam Tholasy, the government’s director of GST, is pushing an ambitious agenda for training internal staff, preparing the public, and publishing guidelines on exempted items. Here, he gives Meredith McBride the lie of the land.

Lisa Zarlenga has returned to Steptoe & Johnson as the co-chair of its tax group. She will also act as a member of the firm’s government affairs and public policy group.

Arantxa de Luis As is common knowledge, article 211 of Council Directive 2006/112/EC of November 28 2006 (VAT Directive) leaves it to the member states to lay down rules for payment in respect of the importation of goods and provides the option to establish that VAT on import need not be paid at the time of the import but rather in the periodic tax return. This election permits avoiding the financial effect derived for taxable persons from having to pay the import VAT and then recover it through deduction in the periodic VAT returns.

Gonzalo Schmidt

Nancy Diep