In the past year, the global economy turned the corner to solid growth. 2017 was the first year since the crisis that none of the 45 countries monitored by the Organisation for Economic Co-operation and Development (OECD) were contracting. This tailwind of global growth has been supportive of M&A activity. The OECD’s 13 March 2018 release of its global outlook showed an upward revision of global growth to 4.1 percent in 2018 and 4.0 percent in 2019. This optimistic forecast is reflected in almost all countries, with developed markets seeing the greatest upward revisions.
The 2018 edition of Taxation of Cross-Border Mergers and Acquisitions is a useful guide to understanding tax impacts on transactions. It features information about current rules for 60 countries and/or jurisdictions, and describes possible tax implications for structuring and financing a merger or an acquisition, including the rules and consequences to foreign shareholders and comparisons of asset and share purchases. These documents reflect on M&A legislative developments in 2017, and provides insights into what is expected throughout 2018.