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Machiel Lambooij, of Freshfields Bruckhaus Deringer, and chair of IFA's subcommittee on enhanced relationships, discusses the potential application of cooperative compliance arrangements in cross-border situations, initially on a bilateral basis and perhaps ultimately on a multilateral basis.

A monthly commentary on the notable facts, figures and goings-on in the tax world.

Helene Rives and Simon Ginesty, Landwell & Associés Many new regulations are under discussion in French Parliament which would significantly impact taxpayers. Nevertheless, a new credit has been introduced to improve the competitiveness of companies (CICE – Crédit d'impôt pour la compétitivité et l'emploi), which became effective as of January 1 2013.

Rafael Calvo and Salvador Pastoriza, Garrigues On July 17 2013, the European Commission announced the commencement of a new state aid investigation procedure concerning the amortisation of the financial goodwill regulated in article 12 (5) of the Spanish Corporate Income Tax Law (CIT Law). This article allows companies that acquire holdings in the equity of non-resident entities (which meet certain requirements) to deduct for tax purposes the financial goodwill (difference between the price paid and the book value of the target not attributable to underlying assets or rights) disclosed on the acquisition, over a minimum of 20 years.

Peter Dachs, ENS - Taxand South African companies are increasingly looking to global expansion to build their capabilities and expand their operations into foreign jurisdictions.

David Cuellar and Blas Montemayor, PwC Early in April and July 2013, the Mexican tax authorities published new internal criteria regarding some aspects of the Mexican federal tax legislation, including international tax matters. These criteria are intended to help clarify the interpretation of the Mexican tax provisions, which are rather complex and also to make clear the position of the Mexican tax authorities with respect to specific tax issues.

Jelena Janjic and Gordana Vucenovic, Eurofast Global In July 2013 the new law on audit was adopted by the government of Serbia. The new law is geared towards compliance with the requirements of the new Eight EU directive, as well as aiming to eliminate discrepancies in application of the existing law.

Cynthia Herman, VDB Loi Reform of the Myanmar taxation organisational structure continues with the introduction of a Large Taxpayer Unit (LTU), which is set to open in April 2014. The plan is on schedule for this expected opening at the beginning of the next tax year, with tax officers already selected and assigned to staff the LTU. LTU staff will be specifically trained for their new roles in this new unit.

Dajana Topic, Eurofast Global A free trade agreement (FTA) has been signed between Bosnia and Herzegovina (BIH) and ministers from the member states of the European Free Trade Association (EFTA) – Iceland, Liechtenstein, Norway and Switzerland, on June 24 2013.

The Franked Investment Income Group Litigation (FII GLO) concerning claimants' rights to recover overcharged tax from HM Revenue & Customs (HMRC) has been batted back and forth between the UK courts and the European Court of Justice (ECJ) since 2006. Philippe Freund, of Joseph Hage Aaronson, explains why an Advocate General's opinion on the third reference to the ECJ has given taxpayers cause to be optimistic.