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The government has released proposals for public comments in which it has set out the manner in which exemptions and deductions will be phased out.

In its push towards positioning India as an attractive investment destination and to improve the ease of doing business in the country, the Government has announced further tax initiatives.

India is gearing towards the introduction of a goods and services tax (GST), a destination-based consumption tax, replacing several central and state taxes.

Gustavo Gómez, of EY Mexico, provides an overview of electronic accounting records processes in Mexico, including how to make submissions, and an update on related litigation surrounding the protection of taxpayer information.

The controversial issue of applicability of MAT to both FIIs/FPIs may finally be resolved.

Under Indian law, capital gains on the transfer of shares of an Indian company are taxable in India. However, under a few treaties, including Mauritius, the right to tax such gains has been ceded by India in favour of the seller's country of residence.

The past three years have seen significant changes to the Colombian tax framework, generally constituting a convergence with international tax concepts. Ximena Zuluaga and Luis Orlando Sánchez, of EY, explore the changes introduced by the 2012 tax reform and associated regulations released at the end of 2013 and assess the scope for further reform measures.

Provisional Measure 651/2014, enacted in July 2014 (MP 651/2014), re-established the Brazilian Special Regime for the Reinstatement of Taxes for Exporters (REINTEGRA).

According to the Mexican Income Tax Law (MITL), the expenses made with foreign related parties, on a pro-rata basis, are not deductible. However, a recent decision from the country’s Supreme Court means those expenses may now be deductible in certain circumstances.