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Chinese corporates have their eyes fixed on foreign targets. But this new phase of M&A comes with risks and challenges

Asia’s securities regulators are firmly focused on protecting retail investors. But there are limits to what they can achieve

Freddy Karyadi Oene Marseille The Government has recently issued several new Ministry of Finance (MoF) regulations (PMK) relating to general tax provisions, in order to improve the implementation of Government Regulation 74/2011 (PP-74), which is the main implementing regulation of the General Tax Provisions and Procedures Law (KUP Law). The MoF seems to want to streamline the prevailing regulations by putting as much content as possible in the PMKs to minimise the issuance of lower-ranked tax regulations. The tax audit is one of the new MoF regulations which will be discussed below.

What can the financial services industry expect from the new UK regulatory authorities?

As US and UK exchanges loosen listing rules, Asia is cracking the regulatory whip to improve market integrity. Which is the best approach for long-term success?

Law number 228, of December 24 2012 (the 2013 Stability Law) has introduced provisions regarding a new financial transactions tax (FTT) as part of the austerity measures and tax hikes recently implemented.

In the latest twist to the Cœur Défense case, a Versailles court has recognised creditors’ rights. The counsel who pleaded the case explains the rulings

Julieta Rodriguez Molina In this era of increased globalisation, the need for strategically located regional headquarters is paramount. Multinational companies are dividing their operations in homogeneous markets so as to allow them to more effectively address key differences between regions, which in turn allows for closer interaction with consumers, clients and stakeholders, which will ultimately help these companies to achieve sustainable long-term growth. Ideally situated in the middle of Latin America, the Republic of Panama offers the best environment for any multinational company establishing a regional headquarters. As of January 1 2012, 63 international companies have already established regional branches in Panama, including Samsung Electronics, LG, DHL, Dell, Hutchison Port Holding Group, HSBC, Maersk, Scotia Bank, Assicurazioni Generali, Tetrapack, PSA Peugeot Citroen, General Electric, Johnson and Johnson, Caterpillar, Procter & Gamble, Unilever and McDonalds.

Claudia Bonelli Pedro G Seraphim In every analysis of Brazil's potential for growth and international competitiveness, a very common word is bottleneck. Indeed, Brazil has several of these, especially when the subject is transportation infrastructure. Crowded airports, poorly maintained federal roads, a scarce railroad system, insufficient public transportation in the big cities, and absolutely deficient ports. Indeed, these factors have affected the country's agricultural, industrial and exportation competitiveness, and have certainly played an important role in Brazil's weak GDP performance in recent years. There is a relative overall improvement in the country's macroeconomic condition, aided by maintaining the ninth largest internal market in the world. Brazil has been raised to 48th place on the World Economic Forum's Global Competiveness Index 2012-2013, but it drops to 79th position when it comes to the quality of transport infrastructure.

Daniel Futej Rudolf Sivak This article provides a brief overview of important legislative changes in Slovak tax legislation which have recently come into effect. Based on the amendment to the Income Tax Act, as of January 1 2013, Slovakia no longer has a flat rate tax for companies (legal persons) and individuals. The tax rate for companies increased from 19% to 23%. As regards individuals (natural persons), two tax rates exist, and these will be applied in the following way: