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The OECD's Action Plan for tackling base erosion and profit shifting (BEPS) was unveiled on July 19 at the G20 meeting of finance ministers in Moscow. The plan discusses a timeframe of between 12 and 24 months for implementing action and outlines how the OECD will work with national states to improve the overall tax take and clamp down on tax arbitrage by addressing perceived flaws in international rules. The plan specifically references transfer pricing and Sophie Ashley discusses its impact on global principles and how taxpayers can expect them to change.

At the G8 summit in Northern Ireland in July leaders committed to a common set of principles that would limit profit shifting and increase tax transparency. Emma Powell looks at how achievable these aims are and what impact they will have on businesses.

Matthew Greene, a solicitor at PwC Legal in London, looks at what a recent UK Court of Appeal decision can tell taxpayers about the courts’ approach to interpreting tax treaty provisions.

Carolina Gonzalez Cortes

Donka Pechilkova According to a decision of the Sofia City Court, effectively from June 17 2013, a total of 22 sites for sports betting are forbidden by the State Gambling Committee. The reason is that they do not have the licence required by the Law on Gambling that entered into force last year. Among the online portals are the biggest betting sites in the world. The number of the blocked websites increases every two weeks, due to the new alternative websites that open daily. Officially the amendments, referring to hundreds of millions of leva and are not only connected with betting via the internet, but imposes an unprecedented censorship on the internet, comparable with that of countries like North Korea, China, Iran, Iraq, Syria and others.

The OECD’s Action Plan for tackling base erosion and profit shifting (BEPS) was unveiled on July 19 at the G20 meeting of finance ministers in Moscow. The plan discusses a timeframe of between 12 and 24 months for implementing action and outlines how the OECD will work with national states to improve the overall tax take and clamp down on tax arbitrage by addressing perceived flaws in international rules.

Tax planning structures are increasingly targeted by the Brazilian tax authorities. It is therefore important to look at how the Brazilian administrative and judicial courts have been interpreting and admitting tax planning structures that produce reasonable amounts of tax savings.

Foreign taxpayers with investments in mutual fund units will be reassured by an Income Tax Appellate Tribunal (ITAT) decision that said their capital gains will be protected from Indian taxation where a treaty is in place.

Amazon has filed a petition with the US Supreme Court to hear its sales tax case against the New York State Department of Taxation and Finance after it lost in the state’s Court of Appeals in March.

P Chidambaram, India’s finance minister, has appointed Parthasarathi Shome as chairman of the Tax Reform Administration Commission (TARC), which the minister said he would set up in his budget speech last March.