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The right to deduct VAT does not cease to apply retroactively, reports Daniel Kaiser of KÜFFNER MAUNZ LANGER ZUGMAIER

Chile and Finland have become the 23rd and 24th jurisdictions to sign bilateral intergovernmental agreements (IGA) to implement the Foreign Account Tax Compliance Act (FATCA) as the US moves slowly towards signing more than 50 with jurisdictions around the world.

Australian businesses will see their tax burden fall if The Tax Institute gets its wish. The Institute has called on Australian Prime Minister Tony Abbott to cut the corporate tax rate to 25% in line with recommendations made in the Henry Review.

Tony Abbott’s government is looking to repeal the carbon tax, even though emissions from Australia’s largest companies fell 7% on average in the first year since it was introduced.

In the second of a two-part series, Riccardo Petrelli and Simone Zucchetti of Tremonti Vitali Romagnoli Piccardi e Associati look at how existing regimes and pilots will influence the future of enhanced cooperation procedures in Italy.

Starting next year, fuel producers in California will have to adapt to a cap-and-trade market, but Senate President Pro Tem Darrell Steinberg wants to scrap the scheme and introduce a 15 cents-a-gallon carbon tax.

M&A is on the up, particularly in emerging markets, such as China, Colombia and Mexico. Taxpayers expect to complete more divestitures but there are still issues for them to negotiate. This year's annual M&A supplement provides useful tips for negotiating the tax implications of M&A globally.

Tax planning in M&A transactions starts long before a transaction appears on the horizon and continues long after the deal is completed. Key challenges for the tax function are explored by Christoph Huber and Napoleão Dagnese of OC Oerlikon, a traditional Swiss multi-industries conglomerate with a footprint in 34 countries.

Denis Pouw, partner at WTS Netherlands, analyses two recent rulings from the Dutch Supreme Court dealing with debt versus equity financing, and provides clarity on the applicability of the country’s participation exemption regime.

Addressing tax base erosion and profit shifting (BEPS), as well as certain other instruments such as dual loss consolidation, is currently one of the most central points of concern for international tax legislation say Claus Herfort and Alke Fiebig of PwC, particularly for the respective bodies of the EU and the OECD.