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  • Bär & Karrer has appointed Susanne Schreiber as partner and co-head of its tax practice group in Zurich, Switzerland.
  • Vitthal Dehadray of Franklin Templeton Asset Management and Rajeshree Sabnavis of BMR & Associates look at the emerging direct tax debates impacting the asset management industry in India.
  • The combatting of cross-border tax evasion is a priority for governments and the automatic exchange of taxpayer information between countries is now seen as fundamental to addressing it. It is out of this objective that the Common Reporting Standard (CRS), which facilitates the automatic exchange of information (AEoI) at a global level, has evolved. Mariano Giralt, Chris Mitchell and Bronwen Noble of BNY Mellon assess the impact of these initiatives on the financial services industry.
  • Jeffrey Owens, director of the Global Tax Policy Centre at the Vienna University of Economics and Business (WU) Institute for Austrian and International Tax Law (IAITL) and former OECD tax chief, and Nathalie Bravo, research associate at the IAITL, explore the role of a multilateral tax instrument in implementing BEPS Project measures, and analyse the treaty issues and technical challenges to be overcome.
  • In its final BEPS release the OECD removed the recommendation for mandatory arbitration after objections from non-member developing countries. The option of arbitration remains under discussion, however, at UN Tax committee.
  • The OECD recommended approach is to limit interest deductions based on a fixed percentage of between 10% and 30% of EBITDA. HM Treasury responded this week by issuing their consultation document outlining 18 questions for consideration.
  • The Indian government has finally published a notification on the introduction of the range concept in its Income Tax Law, 16 months after it was initially announced.
  • There are specific issues related to the final BEPS guidance for the retail industry.
  • The Irish Finance Bill was published on October 22 2015. Besides country-by-country reporting, it provides draft legislation of the first OECD modified nexus intellectual property box – the Knowledge Development Box (KDB). As expected, the tax rate applying to eligible income under the new regime will be 6.25%. Gains from the disposal of IP remain taxable at 33%.
  • On September 8 2015 the Mexican President, Enrique Peña Nieto, submitted the 2016 tax reform package for approval to Congress. Should Congress approve the package, it would come into force on January 1 2016.