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The OECD launched the International Tax Compliance Program, which aims to provide guarantees to transnational corporations in relation to their transfer pricing issues (ICAP). The OECD also issued a new guide, which provides more detailed information on the ICAP and the procedure for the pilot program.

On 6 December 2017 the New Zealand Government introduced a taxation bill into Parliament addressing Base Erosion and Profit Shifting (BEPS) concerns.

The International Monetary Fund recommends Cyprus to consider the restoration of real estate tax, which was completely abolished this year, in order to increase revenues to the treasury.

Amendments have been made to the Law of Estonia regarding the getting a residence permit by non-residents. Requirements to the definition of a place of residence and control over entrepreneurial activity have significantly increased.

Austrian Parliament recently passed a new law on the registration of beneficial owners of Austrian legal entities. After obtaining the necessary approval of the Austrian federal states, the law is expected to be published in the Federal Law Gazette in September 2017 and will enter into force on January 15 2018.

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