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It has been reported that by the end of September 2018, the Directorate General of Tax (DGT) will commence the automatic exchange of information (AEOI) through the common transmission system (CTS). There are five types of data that are expected to be exchanged within the AEOI framework: (i) identity of bank account holder; (ii) bank account number; (iii) identity of financial institution; (iv) bank account balance; and (v) income deriving from the bank account (interest). Effective implementation of the AEOI may increase tax revenue, especially in terms of income tax. The DGT is authorised to utilise the collected data to evaluate taxpayers' compliance with their taxation obligations, including reporting requirements such as the submission of annual tax returns.

Turkish tax law has been changed to include measures to protect the Turkish lira's value and a recent tax amnesty for the repatriation of foreign assets.

Editor Joe Stanley-Smith introduces the October issue of the International Tax Review magazine.

An Italian priest, Donald Trump, Gareth Southgate and Malaysian customs officials are the subjects of this month's Tax Relief.

Grant Thornton and BDO have come out in favour of reforming the UK’s auditing market, but the wider industry is divided over the best solution. Josh White investigates.

The House Ways & Means Committee has embarked on an ambitious plan to rush a trio of tax bills through Congress.

The recent geopolitical situation in the Middle East has motivated a significant number of Asian high-net-worth individuals to consider moving westward towards European markets, contributing considerably to the development of so-called 'rich immigration'.

At a series of International Fiscal Association (IFA) roundtables, most recently in May 2018, the Canada Revenue Agency (CRA) commented on the classification of certain foreign entities for Canadian tax purposes. These statements have created some uncertainty as to how Canada will treat foreign entities styled as 'partnerships'.

There has been a seismic shift in global politics in recent years, affecting trade and investment and altering the tax landscape. Anjana Haines reviews the tax prospects in this new era with International Tax Review’s Leading Women in Tax.

Read this month's special features on Poland, Mexico and technology