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Jock McCormack The Australian Government released a measured but significant 2015-2016 Federal Budget on May 12 2015. The three main tax changes include a focus on multinational tax avoidance by introducing new targeted non-resident anti-avoidance measures and penalties, changing the goods and services tax (GST) to apply to intangible supplies made by non-residents (including digital content) and tax concessions for small businesses. The Budget continues the Australian Government's focus on certain foreign-based multinationals, after the Australian Senate's inquiry focussed on the Australian tax positions of leading global e-commerce companies.

Un-bell-ievable: Campanologist drawn into FATCA net It's got bells on. However a FATCA request from the Co-operative Bank for a group of church-bell ringers in the sleepy town of Chatham in the UK was no joke. When Neil Campbell, the treasurer of his church's bell ringers' association, decided to open a bank account for the group, he had no idea that he'd be fielding questions on whether or not the group had links to the nuclear power industry.

Margaret Hodge has decided to relinquish her position as chair of the UK's Public Accounts Committee (PAC). She had been expected to seek re-election, but can no longer count herself as the leader of the PAC. Hodge had been a key figure in the fight to bring corporate tax avoidance into the foreground of UK politics, and has been particularly vocal in her criticism of the Liechtenstein Disclosure Facility (LDF), a tax amnesty which allows wealthy Brits to move previously undeclared assets back into the UK for just a 10% fine, while avoiding criminal penalties.

Petar Varbanov Holders of valid ordinary passports from certain countries do not need a visa to visit Bulgaria for up to 90 days within each period of six months. Bulgarian visas are issued by the Bulgarian embassies and consulates abroad, not at the airports or the land and sea passport control points in Bulgaria. A visa is issued only to holders of passports or travel documents that are valid for at least three months after the end of the intended stay in Bulgaria and that contain a blank page for the attachment of visa vignettes.

Soraya Jamal

Gerry Thornton

Alexander Linn

Non-Muslims satisfying various criteria can now register their wills at the Dubai International Financial Centre (DIFC) Wills & Probate Registry.

Rhonda Gregory Inland Revenue and the Treasury have released an issues paper proposing to reform the way non-resident withholding tax (NRWT) applies to interest. Generally, under existing law, where New Zealand-sourced interest is paid to a non-resident lender that does not have a New Zealand branch, the borrower must withhold NRWT at the rate of 15% (although this is usually reduced to 10% under any applicable double tax agreement). In the case of interest paid to a lender that is not associated with the borrower, the rate of NRWT can be reduced to 0% by the borrower paying an approved issuer levy (AIL) of 2%.

Ivana Blagojevic The Serbian Government passed the decree on conditions and procedures for the attraction of direct investments, which was published in the Official Gazette of Serbia No. 28/2015 from March 20 2015. The decree entered into force on March 21 2015. The decree provides for subsidies for investments into the Serbian market and regulates who can apply for the subsidies, the volume of subsidies and the procedure of applying and granting subsidies.