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Mexico's First Circuit Court has recently ruled against a taxpayer in a case involving two transfer pricing adjustments that will make it tougher for companies to comply with their domestic tax obligations on time.

Georgia continues to pursue a business-friendly tax and customs policy, which – along with economic reform – implies a complete harmonisation of the legislation with EU standards. At this stage, work on the new Customs Code project has been completed with the participation of experts from the EU, and fully meeting the EU standards.

The Brazilian tax authorities have provided guidance on the application of the reduced 0% income withholding tax rate on international charter leasing payments.

Spain levies a net wealth tax on the net assets of individuals for the purposes of which any individual owning assets located, or rights which can be exercised, in a Spanish territory is classed as a taxable person by virtue of an in rem obligation.

On June 8 2018, Kosovo and Austria signed the Convention for Elimination of Double Taxation with the purpose of developing their economic relationship and enhancing their co-operation in tax matters. On July 27 2018, Kosovo ratified the treaty; thus it will be effective from next year.

A ruling issued on November 2 2018 by the Central Revenue has provided clarification regarding the application of the VAT regime to transfer pricing (TP) year-end adjustments occurring between related companies belonging to the same multinational group (group).

The combined effect of the globalisation of entrepreneurial responsibilities within multinationals and the OECD's BEPS initiative puts traditional one-sided transfer pricing (TP) methods under increased pressure. NERA Managing Director Dr Yves Hervé and Associate Director Philip de Homont show how transactional net margin method (TNMM)-type TP solutions can be made sustainable for the future.

Chinese governmental authorities remain supportive of rational, well-ordered and healthy outbound investment. Michael Wong, Joseph Tam, Karen Lin, Cloris Li and Alan O’Connor look at key domestic tax and regulatory measures implemented to enhance the competitiveness of Chinese outbound investment on the global stage, including under the Belt and Road Initiative (BRI).

John Gu, Chris Mak and Fiona He explore the key tax issues and considerations of China inbound M&A deals, especially in the education and real estate sectors, including practical challenges for cross-border transactions in these hot sectors, and how an investor can best get prepared.