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EXCLUSIVE: On Monday July 21 the OECD released the full version of the Standard for Automatic Exchange of Financial Account Information in Tax Matters, which requires financial institutions to report detailed financial account information to their governments, which then exchange such information automatically with other jurisdictions on an annual basis. The Standard developed by OECD in response to a mandate by the G20 was first presented to and endorsed by the G20 Finance Ministers in February 2014.

In the UK there is a great deal of interest in the G20 and OECD’s BEPS project and the changes this may bring. Wendy Nicholls and Liz Hughes of Grant Thornton UK LLP describe how the new initiative will impact the UK transfer pricing landscape.

There has been a growing focus on transfer pricing across the globe and there have been a number of important US transfer pricing developments in the last year. Larissa Neumann of Fenwick & West takes readers through the most significant issues of the past year.

Philippe Drouillot and Matthieu Philippe, of LexCase Société d’Avocats, provide an update on the French TP environment.

Brazil is one of the few countries that levies taxes on the total revenues of taxpayers. Glaucia Lauletta Frascino of Mattos Filho, Veiga Filho, Marrey Jr. e Quiroga looks at the complexities of the tax system and how they are causing problems for taxpayers.

Lorenzo Gálmez M and Roberto Carlos Rivas of PwC provide an update on the Chilean tax reform and its impact on transfer pricing.

As we approach the 10-year anniversary of real estate investment trusts (FIBRAs/REITs) being introduced in Mexico, Alfredo Sánchez and Roberto Padilla Ordaz of Chevez, Ruiz, Zamarripa y Cia track the regime’s development and explain why these investment vehicles have become more attractive in recent years.

In Michael O’ Sullivan v Canada Life Insurance [Ireland] Limited, the Irish High Court ruled on two aspects relating to the transfer of Personal Retirement Savings Account (PRSA) abroad pursuant to the Occupational Pension Schemes and Personal Retirement Savings Accounts (Overseas Transfer Payments) Regulations 2003 (the Regulations).

The limitation-of-benefit clause in the India-Singapore treaty, offers greater clarity and comfort for investors residing in the country, helping to make Singapore India's top source of foreign direct investment.

Revenue recently published their annual report for 2013. The report sets out some of the major trends in terms of Revenue’s audit and enforcement activity in Ireland, during 2013. Outlined below is a summary of some of the key points raised in the report.