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Sep 27, 2023
The rise in popularity of generative artificial intelligence (‘generative AI’) has ignited the discussion on whether junior employees can be replaced by it. Some have gone to the extent of questioning whether professionals, such as lawyers, can also be replaced by generative AI. Is it wise to replace junior employees or lawyers with generative AI? What factors should be considered before deploying generative AI tools in your business? To consider these questions, we first need to understand the basic workings of generative AI and what it can offer. Fundamentally, AI is intelligence that is not biological. The general understanding is that machines will be ascribed with this intelligence. These machines have the ability to interpret, learn from and process external data in a way that is similar to the capabilities of the human mind. Generative AI is a type of AI program that generates content from a data set. It uses deep learning, a type of machine learning system that behaves like a neural network to simulate the functions of a human brain. In other words, it can mimic human intelligence by exhibiting analytical skills to create new content. Not only can generative AI be utilised in chatbot programs to create text, but it can also be used in programs that can create images, sound or videos. This article will consider two major forms of generative AI, in the context of risks to businesses: chatbots using generative pre-trained transformer technology programs; and image generating programs.
(NetApp)
Italy: WHT regime on dividends paid to US investment funds EU law American funds insurance
Spain: deduction of borrowing costs Duscholux; recovery of excess withholding taxes by non-resident alternative investment funds EU law infringements (AIF´s or Hedge Funds).
12th Annual London Finance and Capital Markets Conference
Dec 04, 2025
Artificial intelligence (AI) is developing rapidly in China, with the number of patents and the size of the market both ranking highly among countries. However, this rapid development has posed new challenges to the legal framework, ethical norms and social governance, prompting China to continuously adjust and improve the relevant regulatory system.
Jul 08, 2025
Mediation is on the rise internationally as a means to settle disputes in a cost-effective manner. Chinese parties appear to be increasingly interested in mediation as an option. This article examines the evolving landscape of mediation in China and internationally. It considers how mediation for Chinese parties is evolving and whether mediation is a good option for Chinese parties in cross-border disputes. Commercial mediation has seen remarkable growth, bolstered by a supportive PRC judicial system and legislative initiatives encouraging parties to find harmonious ways to resolve disputes. The article analyses the three primary types of mediation in China: people’s mediation, administrative mediation, and commercial mediation. It also looks at mediation rules and proceedings in common law jurisdictions, such as Hong Kong, Singapore, and the United States. The article anecdotally considers the cultural elements, emphasising the Chinese parties’ preference for evaluative mediation styles as a reflection of civil law. Through case studies of international disputes involving Chinese and US parties, the article illustrates the practical dynamics of mediation involving Chinese parties and underscores the importance of cultural sensitivity in international mediation. As Chinese parties continue to go global, mediation is emerging as an attractive option for efficient and cost-effective dispute resolution. This analysis assesses whether the promotion of mediation is yielding tangible outcomes and explores the future of mediation involving Chinese and foreign parties.
Apr 22, 2022
This article discusses the recent SEC case involving PwC and highlights the wider implications for intermediary institutions providing professional services in a tightened regulatory and enforcement regime in China’s banking and financial sector.
By Yi-An (Ann) Lai. Alipay and the impact of e-payment systems resulting in new regulations in China and other jurisdictions.
Feb 17, 2023
This article will outline the development of China’s restrictions on the cross-border transfer of personal information (PI export), detailing PI export mechanisms provided by the Personal Information Protection Law. It will also explain the practical implications of the restrictions.
Jun 12, 2024
The new Foreign State Immunity Law 2023 of the People’s Republic of China came into force on 1 January 2024. This shifts the country (as well as its special administrative regions, Hong Kong and Macau) away from absolute state immunity to restrictive state immunity, bringing it more in line with the relatively prevalent practice among the international community. This article discusses the status of state immunity in public international law, analyses the new law’s provisions and examines practical challenges that will be faced by those seeking to utilise this law to enforce judgments or awards against foreign states and state entities, and the new law’s innovations that go beyond the United Nations Convention on Jurisdictional Immunities of States and Their Property of 2004 and the UK State Immunity Act 1978.
Jul 14, 2025
This article analyses the Chilean tax implications of assigning monetary credits in cross-border transactions. It focuses on the treatment of accrued interest, the effects of the assignment itself and the tax consequences for Chilean assignees, based on the recent interpretation issued by the Chilean Internal Revenue Service (Servicio de Impuestos Internos or SII) in Ruling No 801 of 2024.
Feb 28, 2023
The panel discussed a selection of developments and trends in cross-border financing structures. The panel started with recent developments in exemptions from interest withholding tax, with a focus on Brazil and Italy, and then a broader consideration of beneficial ownership and the principal purpose test. The next topic was multijurisdictional co-borrower structures, mostly focusing on United States and United Kingdom rules, followed by debt pushdown structures in Spain, Brazil and the UK. The panel concluded with selected distressed debt considerations for distressed acquisitions, zooming in on structures with 'Irish Section 110 companies'.
Dec 05, 2023
This panel covered several important and current topics on the taxation of professional sports, with a special focus on football. The topics covered included: the international taxation of player transfers and loans; image rights; TV quotas; licensed products and bets; agent remuneration; tax residency issues and incentives; Brazilian ‘anonymous football societies’ and investment opportunities; and tax issues arising from investment structures.
A session focused on the concept of beneficial ownership. Significant concern has been raised about the application of the concept of beneficial ownership in the EU Parent/Subsidiary Directive to dividends, because of the sentences handed down by the Court of Justice of the European Union (CJEU) in the so-called 'Danish cases'; the impact of these cases was explored during this panel session.
Jun 09, 2024
In the Chinese legal system, provisions addressing commercial bribery are dispersed across various legal instruments and judicial interpretations. Among the different legal authorities in China, the core provisions guiding anti-corruption can be found in the Anti-Unfair Competition Law and its draft Amendment (issued in 2022 and still open for public comment); the Criminal Law of China, along with its amendments; and the Supervision Law of China and its accompanying regulations for implementation.
Jul 11, 2025
This panel at the 14th Annual IBA Finance & Capital Markets Tax Conference discussed different cross-border restructuring case studies, both from the inbound and outbound perspective, in terms of the jurisdictions represented by the panel members. A particular focus of the panel was on cross-border mergers, flip transactions and continuations.
Feb 28, 2023
This panel provided an overview of the important tax cases in recent months, covering transactions in Austria, Denmark, Italy, Spain, Canada and the United States regarding the issues of cum-ex litigation, beneficial ownership identification, taxation of dividends and exchange of information.
Jun 13, 2022
Travel by air is the safest and fastest mode of transport in the world and has seen tremendous growth over the years. The global aircraft leasing market is estimated to reach US$247bn by 2026. With US$180bn required for funding to meet the rising aircraft demand, the necessity of entering into a lease is borne by the need to acquire an aircraft without increasing debt obligations.
Mar 29, 2023
The EU tax developments panel discussed a selection of recent and upcoming tax developments at the EU level, including the following topics: the adoption of the OECD's Pillar Two rules in the EU; the ATAD 3/Unshell Directive proposal; the EU's debt-equity bias reduction allowance (DEBRA) proposal; the BEFIT (Business in Europe: Framework for Income Taxation); withholding tax (WHT) recoveries; practical experiences of DAC6; and the tax enablers consultation (SAFE).
May 27, 2024
The panel discussed how the Organisation for Economic Cooperation and Development (OECD) and the UN address international taxation concerns, starting with a look at the approach adopted in the past up to the present day, recent developments concerning the OECD’s Global Minimum Corporate Tax Rate, followed by an analysis of the solutions provided by both the OECD and the UN to address the tax challenges arising from the digitalisation of the economy. The likelihood of cooperation between the two organisations was also discussed. The panel also presented the perspectives of India and the US on these issues.
A report on a panel, which discussed and presented slides on the tax and non-tax consequences of inbound and outbound cross border investment in residential real estate through various structures in the following countries: Australia, Italy, Mexico, Switzerland and the United Kingdom.
Nov 24, 2025
This report summarises a panel discussion – at the 16th IBA/ABA US and Latin America Tax Practice Trends Conference in Miami, in June 2024 – on current legislative trends in taxation. As introduced by Ana Cláudia Utumi, the panel focused on tax reforms; the implementation of the OECD’s Pillar Two; and tax certainty, tax audits and tax litigation.
Apr 05, 2023
This article evaluates possible new tendencies in Brazilian tax treaties, considering double tax conventions recently signed by the country with Norway and the United Kingdom, which also include innovative provisions.
May 27, 2021
The Cum-Ex files, as so named by the team of investigative reporters who uncovered the story, is a tax fraud perpetrated by obtaining multiple capital gains tax refunds withheld on dividend distribution, even though the tax has only been paid once – or not at all. The masterminds behind the Cum-Ex fraud traded shares on the date of dividend distribution, so that multiple entities would appear to the tax authorities as owners of the same share and each claim a refund of the capital gains tax. Up until the Cum-Ex scheme was uncovered in 2011, it is said to have cost up to €55bn to European states, making it the biggest tax fraud of all time.
A report on a session at the 9th Annual IBA Finance and Capital Markets Tax Conference in London, on 20 January 2020.
Jan 21, 2022
In rapid succession, a number of jurisdictions have moved away from focusing on antitrust enforcement to the proposed regulation of digital platforms. Ostensibly, the regulatory focus is about competition and potential concerns that traditional ex post enforcement may be ill-equipped to address the power of digital platforms. This article focuses on the realities of what platform regulation might mean, and how to better frame and structure the nature of appropriate regulation. This article first identifies a number of the different approaches to regulation that various jurisdictions have put forward, and then lays out six basic principles for platform regulation to help address some of the potential harms that such approaches may unwittingly be pursuing.
Jan 08, 2025
This article provides a high-level overview of the taxation landscape for entities seeking to establish their business or invest in the United Republic of Tanzania. The current landscape provides for taxes payable or which entities are liable to collect and remit to the tax authorities in the United Republic of Tanzania. The article also discusses the potential tax consequences should an entity seek to exit the country. In this regard, the article examines both voluntary and compulsory exit situations.
Jan 12, 2024
On 22 November 2023, the IBA European Regional Forum (ERF), the IBA Academic and Professional Development Committee and the IBA Future of Legal Services Commission, in cooperation with Roma Tre University, organised a university day and job fair.
Dec 05, 2023
This panel focused on defining corporate taxes and tax benefits, which is crucial for calculating the effective tax rate within the Organisation for Economic Co-operation and Development’s Pillar Two Model Rules framework.
Jan 08, 2025
This article is intended for the attention of businesses planning to expand their activities in Iraq, as it describes the current legal framework regarding the taxation of income, be it generated by a local corporation, a foreign investor or an individual. The article discusses the applicable provisions and provides insight into the current and expected approach of the local tax authorities.
In a decision rendered on 31 March 2020 (case no 2C_578/2019), the Swiss Federal Supreme Court (FSC) had to deal with the Swiss tax treatment of a profit participating loan (PPL), specifically from a dividend withholding tax point of view, which had been granted to a Swiss corporation (SwissCo) by the German parent company and three German resident individuals, all belonging to the same family.
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