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Vasco Gruber Franco is head of tax for the Telefônica group in Brazil. He previously worked on the advisory side at Arthur Andersen, and has held other in-house roles at DuPont and Philip Morris. Here, he talks to Matthew Gilleard about heading up a tax department in Brazil.

Read this month's special features on tax technology and India.

Dorina Asllani Ndreka VAT is the most important tax in Albania. According to the fiscal indicators regarding the consolidated budget, VAT is expected to amount to 8.5% of GDP for the 2014 fiscal year. VAT is levied on all supplies of goods and services in Albania, and for all imports. The VAT rate in Albania was 20% for the majority of supplies of services and goods, and until now a reduced rate of 10% was levied on the supply of medications and medical services.

Dajana Topic A tax treaty between Bosnia & Herzegovina (B&H) and Azerbaijan for the avoidance of double taxation and the prevention of fiscal evasion (DTT) related to income and capital taxes was concluded on October 18 2012. Following ratifications from both parties, the DTT entered into force on December 26 2013 and became aplicable as of January 1 2014. The treaty is generally based on the OECD Model Convention.

Tom Seymour The tax consolidation rules should remain high on any Australian group's assessment of potential tax risks, particularly as we see the Australian Taxation Office (ATO) focus on reviewing prior year claims, and we still have a number of retrospective unenacted tax consolidation changes. In recent times the ATO has been very active in issuing detailed questionnaires to tax consolidated groups which it believes may have made claims affected by the provisions enacted in 2012 to retrospectively unwind the rights to future income (RTFI) and residual tax cost setting rules. Some of the issues the ATO is focussing on include:

Khoonming Ho

Christophe Plainchamp

Loreto Pelegrí

Antonis Michaelides

Filip Babic The government of Republic of Serbia has issued a decree detailing the conditions under which a deferment of tax debt payment may be requested by taxpayers. The decree has been published in Official Gazette no.183 on December 6 2013 and is effective as of December 14 2013. The decree prescribes detailed conditions as related to article 73, paragraph 1 of the Law on Tax Procedure and Tax Administration, which stipulates the conditions under which a taxpayer can delay the payment of tax debt.