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  • At a meeting in Brussels this week, the Economic and Financial Affairs (ECOFIN) Council gave the green light to a number of the European Commission’s proposals to make the EU’s VAT system simpler, more efficient and more robust.
  • Simachal Mohanty, global head of direct tax at Dr.Reddy's Laboratories, a pharmaceutical company, tries to find the positives in the much-criticised Indian general anti-avoidance rule (GAAR).
  • Transfer pricing was a recurring concern for taxpayers attending the International Tax Review Asia Tax Forum in Singapore last week, emerging from every panel.
  • Oupa Magashula, the commissioner for the South African Revenue Service (SARS) has said they are discovering an increasing number of tax avoidance schemes through cross-border structuring, particularly by the construction industry.
  • Simmons & Simmons is the latest law firm to prosper from the turmoil at Dewey & LeBoeuf after it hired one of the firm’s tax partners, Bernulph von Crailsheim.
  • The Indian government has long held the view that the India-Mauritius tax treaty is used by foreign investors to avoid capital gains tax payments in India, and the authorities are looking to alter its clauses, though not for the first time.
  • Hong Kong and Malaysia have entered into a new double taxation agreement (DTA), pending ratification, with provisions to clarify that a tax liability on business profits only arises if the company has a permanent establishment (PE) in the other jurisdiction, as well as reducing withholding tax rates and increasing investment opportunities.
  • In just over a month, EU member states are set to vote on introducing a financial transaction tax (FTT). The major economies of Europe remain polarised on the issue and agreement has been hard to find, but in an exclusive interview, Algirdas Šemeta, European Commissioner for tax, customs union, audit and anti-fraud explains why he has not given up on an EU-wide FTT, why it remains the best option for taxing the financial sector, and how it could work under enhanced cooperation.
  • US President Barack Obama is calling on Congress to enact a number of measures to encourage businesses to move back to the country.
  • The OECD’s Task Force on Tax and Development has launched a new initiative aimed at bolstering developing countries’ domestic revenues by improving their tax systems.