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Lewis Lu Curtis Ng The Hong Kong government has revised the concessionary tax regime for certain aircraft leasing activities to ensure it requires require real economic substance and activity in Hong Kong.

When Indian Prime Minister Narendra Modi announced the launch of the country's goods and services tax to much fanfare at a glittering ceremony, he probably wasn't expecting international attention outside of the tax world.

Germany's Federal Constitutional Court has ruled that the German change-in-ownership rules relating to loss carryforwards partially infringe the constitution, and must be amended with retroactive effect.

In line with recent international trends fostered also by the OECD, Italian tax authorities have been increasing efforts and tools to start a new phase of cooperation with taxpayers and business operators.

Luxembourg will have to adjust its rules for determining the application of the "independent group of persons" (IGP) exemption in the EU VAT Directive following an EU court ruling

Patrick Schrievers Mark de Vaan Since the introduction of BEPS Action 13, a lot of countries have implemented, or are implementing, new transfer pricing documentation obligations for multinational groups in their domestic law. Such obligations have also entered Dutch law and have effect from financial years beginning on or after January 1 2016. Dutch law, decrees and policy, covering country-by-country reporting (CbCR) and master and local filing, are in line with what was agreed by the OECD and G20. Based on these obligations, multinational companies with a consolidated group turnover of €750 million ($857 million) or more must file an annual CbC report. In addition, Dutch taxpayers that are part of a multinational group with a consolidated turnover of at least €50 million in the preceding year should prepare an OECD-style master and local file for transfer pricing and branch allocation documentation purposes.

India has provisionally notified its treaties with 93 countries (virtually all of its comprehensive tax treaties) as covered tax agreements for the purposes of the MLI.

Ireland’s recent trend of swiftly implementing BEPS measures has been continued with the signing of the multilateral instrument (MLI) on June 7 2017.

In the past few years the tax authorities have been constantly issuing new tax rules to allow for tax free restructurings or tax deferrals on the transfer of shares or assets. It is crucial that foreign investors stay alert of the changes.

The European Parliament in Strasbourg on July 4 voted with a large majority in favour of the directive tagged as public country-by-country reporting.