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The HM Revenue & Customs’ tax assurance commissioner, has released his annual report, outlining how the UK tax authorities has resolved disputes in the last 12 months, but while positive steps have been taken to work more collaboratively with big business, the authority still needs to provide greater clarity for taxpayers.

Ian Anderson, Chief Finance Officer and Director of Tax, Qatar Financial Centre Authority, presents a hypothetical case study of the tax considerations for a company wishing to set up in Qatar through the Qatar Financial Centre (QFC) to do business in the Gulf Cooperation Council (GCC) and wider Middle East and North Africa (MENA) region.

Dajana Topic Amendments to the Law on Tax Procedures in the Republic of Srpska (RS) were adopted by the National Assembly on April 8 2014. The amendments were published in the Official Gazette on April 24 2014 and entered into force on May 2 2014. The major amendments include:

Durval Portela

Rossitza Koleva The Bulgarian National Revenue Agency and the US Department of Finance agreed on the text of the agreement between Bulgaria and the US, aimed at improving the compliance of the tax legislation from an international aspect and the enforcement of the Foreign Account Tax Compliance Act (FATCA), voted in 2010. To this effect, Bulgaria is included in the list of countries the US is having a FATCA agreement in force with. FATCA obliges all foreign financial institutions (FFIs) to provide information to the International Revenue Service (IRS) related to those financial accounts which belong to US taxpayers or foreign companies that are controlled by US taxpayers (with more than 10% direct or indirect participation). FFIs that do not participate in FATCA will be subject to 30% withholding tax in the US, which will make their operations on the US markets extremely difficult. Thus, US taxpayers who own financial assets abroad must declare them in the IRS and for this purpose FATCA introduces a regime according to which the FFIs can choose either to assist IRS (participating) or not (non-participating).

Rodrigo Winter

Under Canada's Income Tax Act, a stock option granted by a corporation to an employee is generally subject to tax in Canada only when the employee exercises the option and acquires the shares (or cash in lieu).

Anastasia Sagianni

Andrés Edelstein

Khoonming Ho