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Recognised as global innovation and financial potential in international financial markets with assets of $7.45 trillion, national wealth funds have recently become one of the most important financial instruments and had the ability to stamp out the structure of national economies.

A Republican senator has defended the lack of tax cuts for working class Americans in the GOP tax bill by saying that they would only spend "every darn penny" on "booze or women or movies" anyway.

Historically, there has been long-standing friction between governments and businesses due to complexities within outdated tax laws and compliance processes. As a result, businesses face many obstacles and take on additional costs as they look to grow and expand, while governments fail to collect the true taxes owed, hurting their ability to effectively serve their community.

The robot revolution is here, but who – or what – do you tax in this new era of artificial intelligence?

US tax reform won’t happen – or will it? Many are awaiting the enactment of the US tax reform proposals, which will have a worldwide impact, and the so-called ‘Big Six’ policymakers have had the biggest influence on the plans so far and will continue to steer the debate as it makes its way through Congress.

Sri Mulyani Indrawati has had an illustrious career so far, and has shown no sign of slowing down since taking up her position at the head of Indonesia’s finance ministry in July 2016.

Arun Jaitley has achieved a tax goal that many thought would never happen. On July 1 2017, India’s indirect tax system was revolutionised with the introduction of a new goods and services tax (GST) regime.

The phrase ‘Paradise Papers’ evokes images of tropical offshore islands with palm trees and a P.O. address for multinationals and high-net-worth individuals. The list of celebrities involved in one way or another is almost endless. Shakira, Madonna, Keira Knightly, the Queen, Prince Charles, the estate of the late Michael Hutchens, Justin Timberlake, and Amitabh Bachchan. We picture Lewis Hamilton in a private jet.

EU Competition Commissioner Margrethe Vestager, who joins the ranks of the Global Tax 50 for the fifth year in a row and took top spot in last year’s ranking, has had a quieter 12 months in 2017 compared to previous years. But that’s not to say multinationals aren’t still trembling with fear at the thought of being faced with state aid allegations from the determined commissioner.

Richard Murphy came up with the idea of country-by-country reporting (CbCR) in 2003 and his vision reached a milestone this year, earning him a top-10 spot in this year’s Global Tax 50.