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Mexico is one of the few countries with a special exemption regime for foreign pension funds investing in the country. This exemption was incorporated into the tax system as a general withholding exemption for such funds when obtaining any type of Mexican source income through a presidential decree published on March 25 1992, and then into the Income Tax Law in July of that year. Raul Morales Medrano of Chevez, Ruiz, Zamarripa y Cía, outlines the latest changes impacting pension funds in Mexico.

In the fifth in a series on intangibles and finance, Philip de Homont and Alexander Voegele, both of NERA Frankfurt, examine how to deal with substance requirements for finance centres.

Hong Kong’s newly signed double tax agreement (DTA) with Russia has supported the territory’s ongoing efforts to expand its international tax treaty network with jurisdictions along ‘the belt and road’.

Ten lawyers and one economist have been promoted in six of Baker & McKenzie's US offices.

Latin American, Philippi, Prietocarrizosa & Uria has opened a new office in Lima, Peru by integrating Peruvian firms Ferrero Abogados and Delmar Ugarte.

Lluís Fargas, vice president of tax and corporate development Europe at Alcoa, has been re-elected for the second consecutive year to Tax Executives Institute (TEI) executive committee.

Thomas Barthold, chief of staff of the Joint Committee on Taxation (JCT), has been recognised by the Tax Council Policy Institute (TCPI) for his accomplishments in business and tax policy with the Pillar of Excellence Award.

A new law firm, PATH Augustyniak, Hatylak & Partners has opened in Warsaw, Poland.

Andrés Edelstein Ignacio Rodríguez On December 17 2015 the Argentine Central Bank (BCRA) issued Communication A 5850 by which important amendments where introduced to the Exchange Currency Market (MULC) regulations related to the payment of imports of goods and services as well as to the requirements for the formation of foreign assets by Argentine residents, and to the regulations related to financial debts with non-residents.

Dorina Asllani Ndreka The government of Albania has announced a new tax reform which includes the removal of the obligation to pay the simplified income tax for small businesses with annual turnover up to €36,000 (or 5 million ALL).