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The bill that would implement the EU Anti-Tax Avoidance Directive I (ATAD) into Luxembourg law was published on June 20 2018.

Proposed changes to the Income Tax Act, contained in the 2018 draft Taxation Laws Amendment Bill (DTLAB), were released for comment on July 16 2018. This update focuses on certain international tax-related proposals.

From 1 July 2018, Poland became one special economic zone (SEZ) with extensive tax exemptions available. Since the early 90s, taxpayers have been able to benefit from public aid in the form of the income tax exemption that applies to profits earned in SEZs. Most of the exemptions resulted from qualifying expenses relating to new investments and increases in employment, but only within very specified locations.

The Ministry of Finance of Serbia has adopted the 'rulebook' on arm's-length interest rates for 2018 (Official Gazette of the Republic of Serbia, No 18/18). The new rulebook applies when determining corporate income tax in 2018, while when determining the income tax for 2017, the interest rates to be used are those prescribed in the 2017 version of the rulebook (Official Gazette of the Republic of Serbia, No 21/17).

Litigation in respect of when a non-resident has a permanent establishment (PE) in India has always been a contentious issue.

The Albanian Parliament has introduced fundamental amendments, thus changing the methodology on which the payment of the tax on buildings was based.

Jim Fuller and David Forst examine the New York State Bar Association's latest analysis of the base erosion and anti-abuse tax (BEAT), which was introduced in the US tax reform.

On June 29 2018, China's Parliament, the National People's Congress (NPC), released the full text of proposed amendments to China's individual income tax (IIT) law (draft IIT bill). Public comments were sought up until July 28 2018. The upshot of the proposed changes is to reduce the tax burden on lower earners, reduce the relative preferences for foreign nationals under the existing IIT law, give greater recognition to personal circumstances and expenses in the IIT calculation, and introduce anti-avoidance provisions. The changes to personal deductions and tax brackets would take effect in part from October 2018, and the rest of the changes from January 2019.

A new tax treaty between Argentina and Brazil came into force during the summer.

By replying to a request for advance ruling the Italian Revenue Agency has clarified some tax aspects on virtual currencies, and more specifically on the so-called bitcoins held by individuals outside their business activity.