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Algirdas Šemeta, European Commissioner for Taxation, Customs Union, Audit and Anti-Fraud introduces the simpler, more modern rules on VAT invoicing he is bringing in next year.

Almost universally in 2012, it seems there has been a pledge from revenue authorities bidding to spare resources, and taxpayers craving certainty, to try and reduce the risk of entering new litigation. But while some litigation is undoubtedly avoidable, there are always those cases which climb through the judicial system, demanding attention from the highest courts. Such cases often have a dramatic impact on how taxpayers do business. Joe Dalton looks at the tax rulings multinationals need to follow in 2013.

See who has done the tax work on this month’s biggest deals. Promote your tax practice

D’Ascenzo hopes other taxpayers will follow Alcoa’s lead and enter more comprehensive ACAs Alcoa, the multinational aluminium producer, recently signed an Annual Compliance Arrangement (ACA) that was described by Australian Tax Commissioner Michael D'Ascenzo as "historic" because of its comprehensive nature. International Tax Review looks at whether such a broad ACA is best for taxpayers. The Australian Taxation Office (ATO) introduced ACAs in 2008 as an administrative arrangement defining and governing the compliance relationship between the ATO and taxpayers.

A working group of the European Council has been discussing the technical aspects of a common consolidated corporate tax base (CCCTB) in the EU. Even if a decision to go ahead may not be imminent, multinational companies should not miss out on the opportunities a CCCTB may present, says Cristina Stiefken of the London School of Economics.

Jamal Afakir

The accepted standard for transfer pricing has always been the transfer pricing guidelines issued by the OECD. However, that may be changing as China and other developing countries set out their stall in the new UN practical manual on transfer pricing. Glenn DeSouza of Baker & McKenzie in Shanghai analyses what this will mean for multinational businesses.

Rafic Barrage and Kent Stackhouse, of Baker & McKenzie, explain why the US Supreme Court has agreed to address the creditability of UK windfall tax and why the court’s decision could have far-reaching implications for taxpayers.

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

Ron Richler