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Tax Reform Law 20.780 of 2014 introduced Article 41, letter H to the Chilean Income Tax Law, setting new criteria in order to determine whether a preferential tax regime was characterised for Chilean tax matters.

During a debate at the European Parliament in mid-April 2018, a representative from the Council of the European Union confirmed to members of the European Parliament (MEPs) that there were "unresolved political issues" which prevented agreement at the council on the European Commission's April 2016 pending proposal for public country-by-country reporting (public CbCR). The two largest parties in the European Parliament, the EPP (Christian Democrats) and the S&D (Social Democrats), asked the council to unblock the negotiations on the proposal for public CbCR. This was generally understood to be the last chance to reach a deal as Austria, which holds the six-monthly rotating EU Council presidency from July 1 to December 31 2018, and could drive discussions in the council forward, is not in favour of the commission's proposal. Germany's new Federal Finance Minister Olaf Scholz said in June 2018 that the German government needed more time and he also counselled caution about the Commission's proposal and hinted at following a tax-centric approach instead.

Almost 10 years after the adoption of the Law on Tax Consultancy, on February 14 2018 the Ministry of Finance adopted the 'rulebook' on tax advisers' licences (rulebook), which then entered into force on February 22 2018.

On July 10 2018, the Cyprus Parliament approved the new alternative investment fund (AIF) legislation which will replace the existing law and which enables, for the first time, the establishment of registered alternative investment funds (RAIF) in Cyprus. This is a major advancement in the field as it will substantially reduce the time and cost involved in establishing an AIF in Cyprus.

Read this month's special features on VAT and Malta

Over the past year, the Australian transfer pricing (TP) landscape has continued to evolve. There is new legislation and the Australian Taxation Office (ATO) is continuing to prioritise TP as a key area, write Tim Keeling, Jay Mankad and Jennifer Goldkopf of KPMG.

Almost two decades after the introduction of transfer pricing regulations in 2001, the Indian TP space has evolved and matured immensely, write Manoj Pardasani, Hasnain Shroff and Hardev Singh of BSR & Co. Today, India’s TP regulations are in line with international TP principles and the Indian government is continuing to align the TP regulations with global best practices.

Cryptocurrency cannot be ignored. Ivan Castano speaks to lawyers and companies in the sector who believe tax collections could soar tenfold by 2023 as governments introduce regulations to expand the tax base and the market gains traction.

Danaher Corporation’s Jim Ditkoff talks to International Tax Review about what the end of the inversion era means for US businesses.

The Netherlands is set to abolish the dividend withholding tax, but it may come too late for Royal Dutch Shell if the EU takes state aid action.