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For many years the Spanish 'participation exemption' regime had the particular characteristic that whereas the capital gains and dividends obtained by Spanish companies from foreign shares were exempt from corporate income tax (subject to given minimum investment and taxation requirements), any losses deriving from the transfer of those shares were deductible for corporate income tax purposes.

Malta's maritime industry is undeniably one of the island's economic pillars, with the shipping register being the sixth largest in the world and the largest in Europe.

The Turkish government has introduced a draft law amending the Turkish VAT Law. This is the most comprehensive amendment to the Turkish tax system since the VAT Law was first introduced in 1986.

A tax treaty between Georgia and Moldova is the first of its kind concluded between the two countries, and will enter into force after the ratification instruments are exchanged.

The safer end to stand? In line with its commitments to reduce greenhouse gas emissions by 40% by 2020, Denmark is considering introducing a tax on cows – and their farts.

Officials of Jersey and Cyprus signed a double taxation agreement (DTA) on July 11 2016 in London. The agreement – negotiations for which had lasted since 2013 – came into force on January 1 2018.

In recent years, the idea that offshore tax liabilities can easily be concealed from government revenue collectors has become a moribund concept. Huge data leaks increased international co-operation and developments such as FATCA and the global common reporting standard (CRS) have resulted in a situation where a person’s cross-border tax affairs are no longer fully secret.

On December 21 2017, the President of Belarus signed the Law on 'The Development of a Digital Economy' (Law). After its entry into force on March 22 2018, businesses based on blockchain technology will become legally regulated in Belarus.

This was Malusi Gigaba’s final budget, as he was replaced by Nhlanhla Nene shortly after delivering it Years of budget misuse have created a deep hole in South African government coffers. A new president means a new direction, starting with the 2018 budget that proposes a number of revenue-raising measures that are receiving mixed reactions.

The Federal Commissioner of Taxation has appealed against the decision in the RCF IV case (Resource Capital Fund IV LP v FCT [2018] FCA 41). In that case, the Federal Court had held that the gains derived by two private equity funds, which were Cayman Islands limited partnerships, from the sale of shares in an Australian mining company were not subject to Australian income tax, on the basis that the Australia-US double tax treaty applied in respect of the US tax resident limited partners of the funds to exempt the gains from Australian taxation.