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The insurance industry in Nigeria is fighting to reduce an unfair and overburdening tax liability. Adebayo-Begun Oluwatomisin, senior adviser at KPMG Nigeria highlights the big issues affecting the sector, from what is being done to address these challenges to which countries provide a tax structure that supports it.

Taxpayers that have indirect assets held through special purpose vehicles must disclose their ownership of the assets and its related debts when taking advantage of the tax amnesty scheme, but should take care to avoid the potential pitfalls.

Irish Finance Minister Michael Noonan has promised that the country’s corporate tax system will remain reliable over the coming year, attracting more foreign investment, but some changes will be made.

A recent amendment to the Bulgarian VAT Law introduces a new obligation for traders that aims to tackle fraud.

Type of Deal Value Acquirer Target dviser to acquirer (tax) Adviser to target (tax) Merger $36 billion PotashCorp Agrium Stikeman Elliott; Jones Day Blake, Cassels & Graydon; Norton Rose Fulbright; Paul, Weiss, Rifkind, Wharton & Garrison; Latham & Watkins Merger $13 billion Waste Connections Progressive Waste Solutions Locke Lord; Bennett Jones Stikeman Elliott; Weil, Gotshal & Manges Acquisition $10 billion Avolon Holdings CIT Commercial Air Weil, Gotshal & Manges; Freshfields Bruckhaus Deringer Wachtell, Lipton, Rosen & Katz Acquisition $6.3 billion Endurance Specialty Holdings Sompo Holdings Skadden, Arps, Slate, Meagher & Flom: Sally Thurston Davis Polk & Wardwell Acquisition $3.2 billion Bats Global Markets CBOE Holdings Davis Polk & Wardwell: Neil Barr Sidley Austin Acquisition $2.7 billion LANXESS Chemtura Corporation Skadden, Arps, Slate, Meagher & Flom: Eric Sensenbrenner Davis Polk & Wardwell: Neil Barr 2 x Acquisitions $2.4 billion China Three Gorges; I Squared Capital Advisors Duke Engergy

Several measures that alter the tax treatment of businesses and the compliance burden have been announced around the world during the past month, but it is not all bad news.

The OECD BEPS Actions will result in a higher effective tax rate (ETR) and cash tax liability for most multinationals, whereas investors will continue to strive for lower ETRs and cash tax liabilities in the companies they consider for investment. Keith Brockman looks at where the balance should be in this equation, and who should be the master negotiator.

The insurance industry in Nigeria is fighting to reduce an unfair and overburdening tax liability. Adebayo-Begun Oluwatomisin, senior adviser at KPMG Nigeria highlights the big issues affecting the sector, from what is being done to address these challenges, to which other countries provide good structures that support their businesses.

Some investors and advisers still believe that the global withholding tax reclamation process is so complex and labour-intensive that it outweighs the advantages, but this is simply not true. Bill Salva, global business development manager at Goal Group looks at the options for reclaiming withholding tax.

Brazil’s retail sector is shrinking, but governments want more revenue, so where does that leave businesses? The tax chief at international fashion retail company C&A talks to Amelia Schwanke about the changes taking place in the notoriously complicated tax jurisdiction.