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May’s instalment of his column sees Keith Brockman, global tax director at Mars, lecturer and author of the Strategizing Multinational Tax Risks blog, look at the problems that may arise for taxpayers given the timing differences applicable for different documentation and reporting requirements, and what options are available for reconciling these.

Another month, another series of attacks on multinationals' tax affairs. In Australia, Apple, Google and Microsoft gave evidence to a Senate hearing looking into their transfer pricing, before resource companies BHP Billiton and Rio Tinto took the stand.

France has opened a formal criminal investigation into HSBC’s Swiss subsidiary, and will also probe the financial institution’s global holding company.

The European Commission (EC) will review its 2015 changes to VAT paid on business-to-consumer (B2C) supplies of digital services, which were implemented on January 1 2015. MOSS critics say delaying the review process could leave the digital single market “dead in the water”.

Lynne Doughtie has been elected as KPMG’s US chairman and CEO, becoming the first woman to hold both positions. Scott Ozanus will continue to serve as US deputy chairman and COO.

June 8 is the date of the next webcast to update stakeholders on the progress of the OECD-led base erosion and profit shifting (BEPS) project.

Businesses face rising tax costs in Greece if a rumoured VAT increase is implemented. As the economy is so fragile, businesses may have to absorb the rate rise - which, some say, may take just 10 days to implement - rather than pass it on to consumers.

The ICMS is a state value added tax, whose primary directives are set forth by the Brazilian Federal Constitution, and is governed, at the national level, by Supplementary Law 87/96.

Poland has referred a case to the European Court of Justice (ECJ) which could dramatically impact insurance outsourcing activity across Europe.

The introduction of the UK's diverted profits tax (DPT) on April 1 2015 has dismayed tax practitioners and their multinational clients. Rushed through parliament (ahead of its dissolution before the general election) it seemed intended to appease public anger at multinationals failing to pay their 'fair share' of tax. It has been roundly criticised for its breadth and complexity, for the speed with which it has been introduced, for the lack of public consultation and parliamentary scrutiny, and for pre-empting the multilateral response to tax avoidance of the G20/OECD BEPS Project. DLA Piper's Stephen Jones asks whether the DPT has created a cloud of uncertainty to cover the previous decade’s climate of reform favourable to global business.