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The corporate tax systems of most European countries contain rules that provide some form of fiscal relief on income from participations. Under these rules, income, gains or losses from participations are often fully or partly disregarded. Switzerland also recognises participation relief in corporate taxation, yet its rules stand in sharp contrast to the ones commonly encountered, as they treat participations a priori as ordinary taxable assets. This provides both opportunities and pitfalls which taxpayers should be aware of.

As of January 1 2017, the amendment to the Slovak Commercial Code introduced a new corporate form – the simple joint-stock company (JSA). It is a simpler form of the joint-stock company with some specific features, including: reduced share capital of a minimum of just €1 ($1.20); the possibility of a one-person board of directors; the ability to issue various classes of shares; and, the ability to agree on an exit from the company. Two new statutory concepts were also introduced: the shareholders' agreement and option rights in the sale of shares.

Latest guidance seeks to reconcile differences in UK and US opinion letter practices in cross-border financial transactions

The PCC is stepping up enforcement scrutiny

The Mifid II train will arrive at Compliance station on January 3

In this exclusive interview, the regulator's former acting head talks about his successor, the Consumer Financial Protection Bureau, Volcker and his future

The race is on to crown the world's largest e-commerce company. This particular market may count an endless number of organisations, but the battle is really only between the US' Amazon and China-headquartered Alibaba. Both have multi-billion capitalisations, huge market shares and more spare cash to spend than the economy of a small country.

The unbundling of investment research is proving a headache for both the industry and regulators

The CFTC has said that if a company reports and remediates any issues of its own accord, it will likely face lower financial penalties. But the proposal’s effects remain to be seen

Will 2018 bring yet more uncertainty, or will the global economy come back down to earth?