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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.

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'.

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

Tax is evolving at an ever-quicker pace. With BEPS action points being legislated into domestic law, treaty actions for the Multilateral Instrument (MLI), the introduction of the US Tax Cuts and Jobs Act from December 2017, trade/tariff initiatives and business complexity, is it time to create a formal high-level organisational role of chief strategic officer?

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.

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

ITR Columnist Giles Parsons examines tax certainty and DAC6.

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.