About Renald Camilleri

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So far Renald Camilleri has created 212 blog entries.

Are you getting your GST Refunds on time?

March 3rd, 2018|Categories: AITC, Tax|Tags: , |

This write up highlights the GST Refund process followed in Papua New Guinea (PNG) and is useful for all business, [...]

Initial Coin Offering – BlockChain – Bitcoin Funds

February 21st, 2018|Categories: AITC, Tax|Tags: |

The SLP can be used to setup up a Bitcoin Fund as an Unregulated Alternative Investment Fund An ICO (Initial [...]

Foreign LPs Investing in Australia

February 18th, 2018|Categories: AITC, Tax|Tags: |

There has been a heartening development in the long running uncertainly about the access to treaty benefits for partners in [...]

IRS to Begin Revoking US Passports of Delinquent Taxpayers in 2018!

February 17th, 2018|Categories: AITC, Tax|Tags: |

Starting this month, the IRS will start implementing new procedures required under a 2015 law to crack down on individuals [...]

Two-tiered Profits Tax Rates Regime in Hong Kong

February 15th, 2018|Categories: AITC, Tax|Tags: |

A two-tiered profits tax rates regime was proposed by the Hong Kong Government during the last quarter of 2017 and [...]

Cyprus VAT on Land – Updates by the Tax Department

February 14th, 2018|Categories: AITC, Tax|Tags: |

In November 2017, the Cyprus parliament voted an important amendment to the Cyprus VAT Legislation, which amends the main VAT [...]

IRS Urges Travelers Requiring Passports to Pay Their Back Taxes or Enter into Payment Agreements; People Owing $51,000 or More Covered

February 8th, 2018|Categories: AITC, Tax|Tags: |

On January 16, 2018 the IRS further warned that Travelers Requiring Passports to Pay Their Back Taxes or Enter into [...]

Turkey: 5% of income tax and corporate tax rate deduction would be applied as of 1 January 2018 under certain conditions.

February 2nd, 2018|Categories: AITC, Tax|Tags: |

The General Communiqué No: 301 on Income Tax was published in the Official Gazette dated December 23, 2017 and numbered [...]

Papua New Guinea Key Compliance Dates for 2018

January 24th, 2018|Categories: Tax|Tags: |

Shishya, a consulting firm specialising in servicing Asia Pacific markets, has kindly provided the Papua New Guinea Key Compliance Dates [...]

Argentina enacts integral Tax Reform introducing significant changes in decades

January 23rd, 2018|Categories: Tax|Tags: |

Argentina enacted an integral tax reform through Law 27.430 (published on the Official Gazette on December 29th 2017), which became [...]

Register of Beneficial Owners in Malta

January 20th, 2018|Categories: Tax|Tags: |

On the 26th December by virtue of Legal Notice 374 of 2017 as of the 1st January 2018 the Registrar [...]

Minimum salaries for foreign workers rise 33 percent in Romania

January 18th, 2018|Categories: Tax|Tags: |

Romanian authorities have increased minimum salary levels for foreign employees by 33 percent as the country prepares for a new [...]

China Withholding Tax Deferral Policy for Foreign Direct Reinvestment

January 14th, 2018|Categories: Tax|Tags: |

Dividends derived from China by a foreign investor are currently subject to China Enterprise Income Tax in the form of [...]

Double tax treaty for between Cyprus and Saudi Arabia

January 10th, 2018|Categories: Tax|Tags: |

The Cyprus Ministry of Finance has announced that Cyprus has entered into a double tax agreement with Saudi Arabia for [...]

What the tax reform bill means for individuals

January 7th, 2018|Categories: Tax|Tags: |

Passive H.R. 1, known as the Tax Cuts and Jobs Act, which both houses of Congress passed on Dec. 20, [...]

US 2018 Tax Reform -What You Need To Know?

December 20th, 2017|Categories: Newsletters|Tags: |

The House passed the final version of the Republican tax bill on Wednesday December 20, 2017, capping off a furious [...]

Main amendments on Romanian Fiscal Code

December 18th, 2017|Categories: Newsletters|Tags: |

Below are the main amendments on Romanian Fiscal Code, to enter into force starting with January 2018. Corporate income tax [...]

Recent UK personal tax developments and news

December 15th, 2017|Categories: Newsletters|Tags: |

Scottish income tax Scotland’s draft Budget for 2018/19 has now been released and details of the proposed Scottish tax changes [...]

Wake-up Call for Common Australian Discretionary Trust Arrangements

December 13th, 2017|Categories: Newsletters|Tags: |

Discretionary trusts are extremely common in Australia, both for the holding of assets, and from an international perspective, more unusually, [...]

VAT on Land: Important Amendment to the VAT Legislation

December 11th, 2017|Categories: Newsletters|Tags: |

In November 2017, the Cyprus parliament voted a significant amendment to the Cyprus VAT Legislation (VAT Law – Amending Law [...]

Revised FTP 2015 – India

December 8th, 2017|Categories: Newsletters|Tags: |

Revised FTP 2015 – 20 has been amended in such a way that it is in line with the provisions [...]

2018 PNG Budget Commentary from Shishya

December 6th, 2017|Categories: Newsletters|Tags: |

Executive summary below: The Deputy Prime Minister and Minister for Treasury, Hon. Charles Abel handed over the 2018 Budget on [...]

Certain changes on China withholding tax obligations for non-residents

December 4th, 2017|Categories: Newsletters|Tags: |

Passive incomes such as dividends, interests, royalties, capital gains derived from China by a non-Chinese tax resident enterprise (“NRE”) are [...]

Changes to the Malta Residence and Visa Programme

November 21st, 2017|Categories: Newsletters|Tags: |

The Malta Residence and Visa Programme (MRVP) provides an excellent opportunity to non-EU Nationals, non-EEA Nationals and non-Swiss Nationals including [...]

Tax Amnesty Scheme and New Tax Clearance Process in Papua New Guinea (PNG)

November 17th, 2017|Categories: Newsletters|Tags: |

TAX AMNESTY SCHEME The Commissioner General of Internal Revenue Commission(IRC) has notified a temporary relief to businesses in PNG. Who [...]

Foreign purchaser duty and land tax surcharge in Australia

November 15th, 2017|Categories: Newsletters|Tags: |

Foreign property investors are subject to varying surcharge rates of stamp duty across the different jurisdictions in Australia. The surcharge [...]

Cyprus – Iran Double Tax Treaty entering into effect in 2018

November 13th, 2017|Categories: Newsletters|Tags: |

Cyprus and Iran had signed a tax treaty, on 4 August 2015, for the avoidance of double taxation and fiscal [...]

What the House tax bill holds for individuals

November 10th, 2017|Categories: Newsletters|Tags: |

If this bill is enacted, make no mistake about it this will become the LARGEST tax grab for the middle [...]

Country by Country Reporting

November 8th, 2017|Categories: Newsletters|Tags: |

The submission of notification for country by country reporting for the year 2016 has started. This process will be performed [...]

Another Offshore Law Firm Gets Hacked!

November 6th, 2017|Categories: Newsletters|Tags: |

On September 5, 2017 posted How Will the IRS Know About My Foreign Account? where we discussed that Taxpayers who [...]

Why invest in Mauritius?

November 3rd, 2017|Categories: Newsletters|Tags: |

Mauritius is ideally located amongst the brilliant triangle region, associating Asia, Africa and Indian Ocean Region. It is an island [...]

China to welcome more foreign investments

November 1st, 2017|Categories: Newsletters|Tags: |

Taxpayers Since early this year, the Chinese government has released various circulars to promote and attract foreign investments. The key [...]

Individual taxation and Papua New Guinea (PNG)

October 23rd, 2017|Categories: Newsletters|Tags: |

Taxation of an individual in PNG is dependent on his residential status, source of income, mode of earning and kind [...]

IRS Reminds Those with Foreign Assets of U.S. Tax Obligations; New Filing Deadline Now Applies to Foreign Account Reports

October 16th, 2017|Categories: Newsletters|Tags: |

WASHINGTON — The Internal Revenue Service today reminded U.S. citizens and resident aliens, including those with dual citizenship, to check [...]

Transfer Pricing – Consultancy Services

October 12th, 2017|Categories: Newsletters|Tags: |

The arm's length principle (Article 33 of the Income Tax Law 2002) is the cornerstone of transfer pricing rules and [...]

GST update India October 2017

October 9th, 2017|Categories: Newsletters|Tags: |

GST Council has approved the following package of relief & incentives for exporters: Within the next 4 days i.e. by [...]

Super-connector role of Hong Kong – New double tax agreement with Saudi Arabia

October 6th, 2017|Categories: Newsletters|Tags: |

Hong Kong has recently signed a comprehensive avoidance of double taxation agreement (CDTA) with Saudi Arabia. This brings the number [...]

Extension of the period for making arrangements for settlements of taxes in arrears

October 4th, 2017|Categories: Newsletters|Tags: |

1. Introduction On 29 September 2017, a law which extends the deadline for submission of a claim for the payment [...]

How Will the IRS Know About My Foreign Account?

October 2nd, 2017|Categories: Newsletters|Tags: |

Taxpayers who have financial assets outside the United States often ask the question "How will they (IRS) know about my [...]

White paper on Malta’s Gaming Legal Framework

September 22nd, 2017|Categories: Newsletters|Tags: |

In July 2017, a white paper was issued on the Gaming Industry in Malta which white paper is proposing a [...]