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Gertjan Verachtert, attorney at Sansen International Tax Lawyers and member of AIJA, analyses Belgium’s new voluntary disclosure legislation in light of recent developments in information exchange, including the ‘Panama Papers’ leak.

Poonam Khaira Sidhu, commissioner of income tax and joint secretary at the Indian Revenue Service – who holds a Michigan LLM in international taxation with a master’s in economics – reflects on tax competition, inequality, BEPS, information exchange and black, white and grey lists in the wake of the ‘Panama Papers’ leak.

Jock McCormack As Australia heads towards a federal election in the coming months, much attention is focussed on further implementation of BEPS-driven unilateral and bilateral initiatives, including: firstly, ATO actions on the Multinational Anti-Avoidance Law (MAAL) post the critical March 31 2016 deadline; secondly, enhanced tax disclosure requirements under our Australian foreign Investment policy guidelines; and thirdly, actions to implement various BEPS-inspired initiatives under the new Australia/Germany double tax treaty.

Sandra Benedetto Ignacio Nunez As the framework for the global exchange of information regarding investments abroad is being moulded, Chile – as the only South American member of the OECD – has been highly committed to applying such principles and, in order to promote tax assistance and transparency, has signed international conventions and reformed domestic legislation at a legal and administrative level.

David Jakovljevic Croatia and Luxembourg signed a treaty on the avoidance of double taxation (double tax agreement, DTA) on June 20 2014, which recently entered into force on January 13 2016.

Alexander Linn Thorsten Braun On February 4 2016, the European General Court (EGC) issued a decision upholding the 2011 decision of the European Commission that the 'restructuring exception' in Germany's rules relating to the carryforward of tax losses by companies in financial difficulties constituted illegal state aid under EU law.

Bob van der Made The European Commission (EC) has proposed legislation requiring public country-by-country reporting (CbCR) from many EU enterprises.

Nicola Saccardo Marco Valdonio On March 30 2016 the Italian Revenue Agency issued comprehensive guidelines on the tax treatment of leveraged buyout transactions (LBOs) and similar acquisition structures, with a particular reference to investments by private equity funds.

Freddy Karyadi Luna Puspita In March 2016, the Indonesian Government disclosed its plan to optimise tax revenue from various uncollected taxes due on cross-border and online transactions involving the e-commerce business sector and certain individual taxpayers.

Alicja Sarna From July 1 2016, new regulations regarding the obligation of how to provide tax and financial data to tax authorities, shall come into force. This will include the standardisation of procedures regarding the requests of tax authorities concerning tax books and tax evidence documentation into one uniformed form: Jednolity Plik Kontrolny – the Uniformed Control File (JPK).