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In April 2019, India implemented GST reform in the real estate sector, seeing rates drop to as low as 1% for some residential sectors. Dhruva Advisors' Ritesh Kanodia and Meetika Baghel discuss the implications for property buyers and developers.

In recent months, there have been several important tax developments driven by the Australian Taxation Office (ATO) that are relevant to inbound distributors, multinationals and foreign-incorporated companies.

Canada's Revenue Agency (CRA) confirmed in a recent technical interpretation (2017-071330117) that Canadian withholding tax can apply to the accrued (but unpaid) interest on a debt owed by a Canadian resident to a non-resident when the debt is assumed by another entity and such an assumption constitutes a "novation" of the debt obligation for purposes of the applicable commercial law.

In March 2018, the fourth EU Money Laundering Directive was implemented. Known as MLD4, the Directive came into force in June 2018, and saw Bulgaria adopt new anti-money laundering measures.

The Albanian government approved a series of changes to gambling laws on October 25 2018, which are effective from January 1 2019. This will have wide-reaching effects considering the gambling industry is the second largest employer in Albania after the energy sector.

Bosnia's Brčko District Assembly adopted amendments to the Law on Cash Registers on October 17 2018, narrowing the list of persons who are obliged to register invoices using cash registers. The new amendments now grant exemptions to a number of taxpayer categories including: farmers not registered for VAT, farmers and craftsmen selling their own goods, small companies (as per the Law on Personal Income Tax), municipal public companies, banks, insurance companies, insurance funds, postal companies, religious institutions, educational institutions, libraries, museums, and gambling and betting related activities.

Wolrige Mahon Collins Barrow has rebranded as Baker Tilly Canada after decades as a member of the international network.

RSM GmbH merged with PKF Frankfurt on January 1 2019 to create one of the leading mid-sized tax advisory firms in Germany.

Read this month's special feature on Mexico

Beijing-based firm Huapu Tianjian has joined RSM as the global network sets plans in motion to develop a major presence in China.