The international briefing for March 2013

The growing global debate about transparency and paying the ‘right amount of tax’ continues and last month the EU agreed a provisional deal compelling banks to adopt a new transparency regime. The German government has announced its response to the 2011 CJEU judgment in the Commission v Germany case and there has been a new CJEU decision on cross-border losses. In developments around the world, Portugal is introducing a new interest restriction, India has announced its 2013 Budget proposals and there has been an amendment made to the new UK/China double tax treaty.