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Many have responded to the OECD’s draft paper on financial transactions and transfer pricing (FTTP), but agreement on applying the arm’s-length principle to financial transactions is lacking, an insider told International Tax Review.

The Polish government has recently been introducing measures to target base erosion and profit shifting, aggressive tax optimisation, indirect tax fraud and tax leakage. EY’s Aneta Błażejewska-Gaczyńska and Aneta Grzyb explore the possible implications

Technology is having far-reaching implications on the tax profession, and this only looks set to continue as the digital age advances. Deloitte’s Kathy Scherer examines how these developments are unfolding.

The tax changes that Congress passed and President Trump signed into law in December 2017 are the most significant overhaul of the US Tax Code in three decades. These changes lowered the tax rates on corporations, pass-through entities, individuals and estates and moved the United States towards a participation exemption-style system for taxing the foreign-sourced income of domestic multinational corporations. To help offset the revenue impact of these changes, the new law also scaled back or eliminated longstanding deductions, credits and incentives for businesses and individuals.

One of the most recent changes, and one that has occurred in several Latin American countries, is the transformation of the fiscal and customs operational and reporting platforms to become electronic. A new legislative foundation has been issued to support the automation of both operational and tax audit procedures and to establish the rights and requirements of both the taxpayer and relevant authorities.

Gloria Caro

Herminia Diaz

Lucy Cruz de Quiñones

Carla Coghi

Ana Lucia Santacruz