May/June 2018  
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Derivatives & Financial Instruments
This free e-mail service informs you about the contents of the forthcoming edition of Derivatives & Financial Instruments.

Issue No. 3 - 2018 of the Derivatives & Financial Instruments is now available online.

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Other relevant publications and courses:

The Implementation of Anti-BEPS Rules in the EU: A Comprehensive Study
Available in print, online and eBook format.
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International Tax Planning after BEPS and the MLI
15 - 17 October 2018

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Number 3 - 2018 contains the following:
European Union, United Kingdom
Financial Markets Regulatory Outlook: The Year Ahead
David Strachan and Andrew Bulley
The European financial services industry faces considerable strategic challenges in 2018. There is a large volume of implementation work being carried out, alongside uncertainties around the future shape of regulation. And though many initiatives have their roots in the financial crisis (now ten years past), others – such as work to address cyber resilience, Brexit and Open Banking – reflect more recent concerns.
By the Same Token: Swiss Tax Questions in the Context of Initial Coin Offerings
Markus Frank Huber, Silvan Guler and Janine Dumont


United States
The Impact of the US Tax Cuts and Jobs Act on Financial Transactions
Paul Carman
This article summarizes three of the most significant changes of the US Tax Cuts and Jobs Act on Financial Transactions and discusses how they may affect financial transactions.
Brexit to Frankfurt – Risk Transfers as a “Dealing” under the Authorized OECD Approach
Ulf Andresen
This article explores the German rules for the profit allocation for permanent establishments in the context of the increase in risk transfer transactions of banking enterprises in preparation for the Brexit. It shows that risk transfers were explicitly permitted under the OECD profit allocation publications from 2010. In light of the fact that the national legislation in Germany makes explicit reference to the desire of the legislators to implement this supranational guidance into German law, the detailed analysis in this article shows that German profit allocation rules permit risk transfers between permanent establishments as a dealing.
Viability of Sharia Financing Instruments
Zahid Mahmood
Current regulatory and tax frameworks of most countries in the world are inclined towards interest-bearing debt instruments. The regulatory framework designed for conventional financing may also comply with sharia financing instruments, as both are on a par and capturing world financial markets steadily and successfully. If policymakers are inclined to achieve a certain degree of stability, a shift has to be made to provide a level playing field for equity modes of financing.
Taxation of Investments in Bitcoins and Other Virtual Currencies: International Trends and the Brazilian Approach
Flavio Rubinstein and Gustavo G. Vettori


Asia Region Funds Passport and Proposed Corporate Collective Investment Vehicles
Anton Joseph
The introduction of laws enabling the use of corporate collective investment vehicles in Australia has been long due and the surge in investments from the Asia-Pacific region has hastened the day of its adoption. Australian fund management can look forward to a more flexible system of investment more at home with the region.
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