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During the Iranian Minister of Economic Affairs and Finance Ali Tayyebnia's visit to Washington on October 8 2016, the US Treasury Department announced that it now permits financial transactions in US dollars between Iran and non-US financial institutions.

Sandra Benedetto Martin Cruzat As a member of the OECD, Chile signed the Convention on Mutual Administrative Assistance in Tax Matters (the Convention) in October 2013, which was approved by the Chilean Congress in November 2015 and promulgated in November 2016. Along with the Convention's promulgation, the government will soon release local legislation on the automatic exchange of financial accounts information (the Regulation). This Regulation will likely follow the OECD's model on the common reporting standard (CRS) and due diligence for financial account information.

MNEs are encouraged to submit feedback on the DPT draft legislation to ensure the ironing out of a number of loose terms and explanations Businesses are concerned that the Australian government's long-awaited diverted profits tax (DPT) draft legislation has been rushed to ensure it is effective from July 1 2017 and say it fails to answer many questions on its application.

Tax transparency is a cornerstone of the global tax agenda and it is now at a critical moment as the universal policy consensus moves to global implementation. Achim Pross, Philip Kerfs, Paul Hondius of the OECD and Radhanath Housden of the Global Forum take stock of the progress made so far on offshore tax evasion, country-by-country reporting (CbCR) and the exchange of information on tax rulings and provide insights into the steps ahead.

European Commission aims to standardise VAT levied on e-commerce transactions It may become easier for e-commerce businesses to sell their goods and services online if the European Commission's latest proposals are enacted.

See who has done the tax work on this month’s biggest deals

On June 1 2016, the German Ministry of Finance published proposals for change of the German tax laws to implement certain BEPS-related aspects. Claus Jochimsen and Christoph Imschweiler of DLA Piper explore the implications.

Mark Galea Salomone Kirsten Cassar Malta and Vietnam have recently concluded an agreement for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income (the DTA). The DTA will apply to income tax in Malta and to personal and business income tax in Vietnam.

An economic partnership now lies in shambles following the UK’s unilateral decision to separate from the European Union. The impact of this split will be felt by Asian businesses that need to prepare for this unprecedented change. Lam Kok Shang, head of indirect tax, and Angelia Chew, Asia Pacific trade and customs leader, of KPMG in Singapore, explore what may lie ahead.

Read this month's special features on Germany, Brexit and Mexico