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With the EU striding forward with VAT reform and the financial transaction tax (FTT), the OECD preparing its guidelines and new VAT systems being constructed around the world, 2013 will be a year of great change for indirect tax. Salman Shaheen looks at what lies ahead.

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.

McPartland is asking FTSE 100 companies to commit to greater tax transparency

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.

Jamal Afakir

Chris Walsh, of Vertex, believes it will not be long before we see the next generation of tax technology and the convergence of direct and indirect tax applications.

Olga Myrgorodska, Ernst & Young Significant changes in transfer pricing regulations in Ukraine are expected before the end of 2012. Importantly, the changes would provide for transfer pricing documentation and some other compliance requirements which are quite burdensome for business. Other changes include an excise tax on transactions with securities, and changes in profit tax accounting of transactions with securities (approximation of tax accounting with the approach applied to financial accounting). Despite the fact that the deadline for introducing any changes to tax laws in 2013 was missed, the changes can still be passed by the Ukrainian Parliament.

Unfortunately, transfer pricing issues do not cease when the calendar year ends but there have been some significant developments towards the end of 2012, which are certain to impact 2013, keeping taxpayers on their toes. Sophie Ashley provides a guide to the top 10 biggest issues in global transfer pricing.

Jim Fuller