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When Jeffrey Owens announced his retirement as head of tax policy and administration at the OECD, the race was on to replace one of the most important figures in global tax affairs. Pascal Saint-Amans is that man and, in an exclusive interview, he discusses his priorities on transparency, transfer pricing and tax avoidance before taking up the position in February.

Responding to Pascal Saint-Amans’s comments in an exclusive interview with International Tax Review, Martin Hearson, policy adviser at ActionAid, argues that the OECD does not have all the answers in the formulation of international tax standards.

A monthly commentary on the notable facts, figures and goings-on in the tax world. Suitable items should be sent to taxrelief@euromoneyplc.com

In response to Pascal Saint-Amans’s comments in an exclusive interview with International Tax Review, John Christensen, director of the Tax Justice Network, defends the Financial Secrecy Index and argues that the OECD is unsuitable to lead global attempts to tackle offshore secrecy.

Ronald Parks Recent guidance has been released, in the form of Circular No. 19/2011/TT-NHNN, specifying the process by which Vietnamese entities may issue international bonds, and the foreign exchange requirements arising from such issues. Corporate income tax and foreign contractor tax issues may arise as a result of international bonds issuances and more robust rules in this area may allow for new planning opportunities.

The hurdles for information request and exchange are becoming lower, Gert Mueller-Gatermann, international taxation representative of the German Federal Ministry of Finance, yesterday told IBA delegates attending a session titled The bear hug, or will taxpayers and tax administrators soon be sharing the same bed, in Dubai.

The commissioner for large business at the IRS has outlined a plan to improve the department’s information sharing structure after admitting they “are not very good at collaborating” within the organisation.

Vladimir Kotenko The Ukrainian tax authorities, in an attempt to increase tax revenues, have groundlessly opined that taxpayers cannot carry forward 2010 and older tax losses to 2011 tax returns prepared under the Tax Code. The development is an indication of a lack of improvement in the business environment and the authorities' attitude towards the taxpayers, despite the promises made by the government.

Taxpayers will have to put up with an increased compliance burden as global efforts to improve information exchange grow, but the benefits are just around the corner, say international specialists.

Chinapat Visuttipat In recent years, the courts of both lower and higher courts have ruled in favour of the tax authorities. It is interesting to learn from the lessons of this development.