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Maja Maksimović

Hélène Alston

Stephanie Alzuhn

Mounia Benabdallah

Anne Becker-Christensen

The Finance Act 2017 was diverse, from introducing targeted anti-avoidance legislation, to changes to the taxation of certain funds and securitisation companies, as well as introducing a sugar tax.

The most significant change is the sheer volume of it. I've been an international tax adviser to large multinational companies for over 30 years and never seen anything like the pace of change we are experiencing now. In the last 12 months we have had the Anti-Tax Avoidance Directive (ATAD), Multinational Instrument (MLI), US tax reform and the taxation of the digital economy, to name but a few of the changes to the international tax framework. All of these have a cascade and multiplying effect into domestic legislation.

In France, rather than one specific significant change, it's been more a question of continuous embedding of Base Erosion and Profit Shifting (BEPS)-influenced changes in the French domestic legislation. Both the European Union and Organisation for Economic Co-operation and Development (OECD) have had more impact on the French tax features, leading to more transparency (e.g. through Country-by-Country Reporting (CbCR) and the recent Mandatory Disclosure Rules) and to more restrictions in terms of financing deductions.

International Tax Review editor Joe Stanley-Smith introduces the 15th edition of the Latin America guide.

Sonia Louzir