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The new draft budget plan, the so-called 'Stability Law for 2018', launched in the past few weeks by the Italian government, defines the lines of public finance for next year and focuses on important fiscal and spending measures.

New Zealand's new government was sworn in on October 26 2017. The new government is a coalition between the Labour Party and New Zealand First Party, with support by way of a confidence and supply agreement with the Green Party.

On November 6 2017, the Irish Revenue Commissioners (Revenue) issued new guidance on the VAT treatment of payment services. The guidance was issued in the wake of a series of cases decided by the Court of Justice of the European Union (CJEU) on the VAT treatment of such services including Everything Everywhere (C-276/09), AXA UK (C-175/09), Bookit Ltd (C-607/14) and National Exhibition Centre Ltd (C-130/15).

Georgia is becoming an increasingly popular jurisdiction for doing business both domestically and internationally. The attractive factors include the country's top ranks in international ratings on ease of starting and maintaining a business, as well as the fact that Georgia has proven itself to be a corruption-free destination. Additionally, due to a number of benefits – such as the absence of currency control rules, the free inflow and outflow of foreign capital, the comparatively low cost of services, as well as the stability of banking system – Georgia constitutes an attractive non-EU hub for structuring an international business. Of further importance is the fact that a foreign investor may enjoy all respective benefits of doing business in or via Georgia without the necessity to stay or come to Georgia. Worth noting is also that Georgia has not yet committed to the global automatic exchange of financial account information and common reporting standard.

India has seen several important decisions on the tax front take place in 2017.

As global tax rates continue to fall, tax policy is at the forefront to drive Hong Kong's economic growth. In recent years, the Hong Kong government has introduced various initiatives to bolster Hong Kong's position as a global financial centre.

Mexican taxpayers have encountered certain difficulties when filing transfer pricing informative tax returns. Manuel Scapachini and Ignacio Mosquera of Chevez, Ruiz, Zamarripa y Cia address some of the practical issues regarding the master informative tax return and the local informative tax return.

The Greek codified civil law rules provide that a married couple is expected to share a single residence. Thus, the Greek Tax Administration has traditionally followed the concept of a single joint family residence for tax purposes. It has considered that, if the spouse is left behind, the departing taxpayer may not change his/her tax residence status from Greek to foreign, regardless of any other parameters, following a narrow interpretation of the centre of vital interests.

In 2017, Switzerland continued to be an ever more attractive tax location for multinational and domestic enterprises alike, while at the same time becoming more aligned with international tax legislation, a trend that will continue for 2018.

The Tax Cuts and Jobs Act proposes the most significant changes in US tax law in more than three decades.