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Scott Heidecke and Flora Luo of Nexia International member firm Nexia TS (Shanghai) discuss China's latest attempts to implement countrywide standard practices for application of the general anti-avoidance rules, while bringing clarity to foreign entities which are affected.

Exchange traded funds (ETFs) have been a huge success growing far beyond their initial function of tracking large liquid indices in developed markets. Global ETFs now hold more than $2.9 trillion of assets in upwards of 5,400 products listed on 60 exchanges. Marie Coady, financial services tax partner at PwC in Ireland, tackles the associated tax and regulatory challenges.

Members of the European Parliament (MEPs) will take part in a plenary debate tonight [May 18 2015] on potential changes to the EU’s 2015 VAT rules.

The Indonesian Minister of Finance has rejected claims that the country’s corporate tax rate will be cut to less than 18%.

It is stating the obvious to say that current international efforts to tackle base erosion and profit shifting (BEPS) have attracted a great deal of global attention. Since the OECD and G20 countries, working together on an equal footing, adopted a 15-point action plan to address BEPS in September 2013, the focus on this issue has steadily grown. David Bradbury, head of the tax policy and statistics division at the OECD Centre for Tax Policy and Administration, and the man overseeing this aspect of the project, provides exclusive insight into an action point that has not always received as much attention as other items in the Action Plan.

Current account structures enable companies in the same economic group to make cash available to each other, generating reciprocal obligations of booking the amounts corresponding to withdrawals and disbursements of cash, without one being considered a creditor or debtor of the other.

The Indian Ministry of Finance has issued a fresh notice preventing the collection of taxes on transfer pricing cases for Indian subsidiaries of UK resident companies undergoing a mutual agreement procedure (MAP).

Though Taiwan would be the agreement’s primary beneficiary, the jurisdiction is treading lightly before formally signing an agreement with neighbouring China for the avoidance of double taxation. The treaty will cut the tax Taiwanese companies are subjected to on their Chinese operations.

The Brazilian Federal Supreme Court, ruling in favour of the taxpayers, has put an end on the long-lasting controversy regarding the taxable basis of the PIS and COFINS contributions on import operations.

Arthur Laffer, renowned economist and inventor of the curve that bears his name, met with International Tax Review to discuss what he would change about US tax policy, why he favours a flat tax and why simplification should be central to tax reform.