AITC Association News

Employee Share Option Plans in Hong Kong

November 23rd, 2018|Categories: AITC, Newsletters, Tax|

Employee Share Option Plans in Hong Kong How does ESOP work? Employee Share Option Plan (ESOP) refers to the mechanism [...]

2019 PAPUA NEW GUINEA BUDGET – EXPERT COMMENTARY BY SHISHYA BUSINESS SERVICES

November 15th, 2018|Categories: AITC, Newsletters, Tax|

The Deputy Prime Minister and Minister for Treasury, Hon. Charles Abel handed over the 2019 Budget on behalf of O’Neill-Abel [...]

Austrian Tax free allowance 2018 – pay less Income Tax

November 14th, 2018|Categories: AITC, Newsletters, Tax|

Dear clients, The year 2018 will come to its end soon and we wanted to remind you of the Austrian [...]

Malta’s labour marked has increased resulting in a very low rate of unemployment

October 31st, 2018|Categories: AITC, Newsletters, Tax|

Malta announces its 2019 Budget whereby the country has recorded an economic growth leaving surplus of 1% in the country’s [...]

OVDP Ended Sept. 28 – So Now What?

October 31st, 2018|Categories: AITC, Newsletters, Tax|

We originally posted on March 13, 2018 IRS to End OVDP Sept. 28 - Last Chance for Taxpayers With Undisclosed [...]

PNG’s Internal Revenue Commission (IRC) hosted a Meet and Greet session

October 30th, 2018|Categories: AITC, Newsletters, Tax|

On October 12, 2018, PNG’s Internal Revenue Commission (IRC) hosted a Meet and Greet session for certain large tax payers, [...]

Proceeds from Export of Goods Must Be Brought Into To Turkey And A Minimum Of 80% Of The Said Proceeds Are Required To Be Sold To The Banks

October 29th, 2018|Categories: AITC, Newsletters, Tax|

Communiqué No. 48 regarding the Decree No. 32 on the Protection of the Value of the Turkish Currency is published [...]

Accelerated Reduction of Company Tax Rates now Law

October 26th, 2018|Categories: AITC, Newsletters, Tax|

The previously legislated tax cuts for small business included a reduction to eligible entity’s rate to 27.5% and a progressive [...]

Anti-Money Laundering & Countering Financing Of Terrorism (AML/CFT)

October 25th, 2018|Categories: AITC, Newsletters, Tax|

You may have already been asked for increased proof of identity and in some cases, information regarding your tax residency [...]

Malta goes Blockchain

October 11th, 2018|Categories: AITC, Newsletters, Tax|

Malta introduces the enactment of three pieces of legislation; namely: The Malta Digital Innovation Act, The Innovative Technology Arrangement and [...]

New startup visa introduced in Shanghai

October 10th, 2018|Categories: AITC, Newsletters, Tax|

Shanghai’s Public Security Bureau introduced, in May 2018, a new ‘’Private Residence Permit (Entrepreneurship)’’, most commonly known as ‘’Business Startup [...]

China proposes new measures for foreign investors’ strategic investments in listed companies

October 10th, 2018|Categories: AITC, Newsletters, Tax|

The Chinese Ministry of Commerce (‘’MOC’’) released on 30 July 2018 a draft on the amended Administrative Measures for Strategic [...]

China Individual Income Tax Reform

October 10th, 2018|Categories: AITC, Newsletters, Tax|

The Chinese government has recently released the draft amendments to the Individual Income Tax (“IIT”) Law to the public for [...]

US Expats with non US corporations

October 1st, 2018|Categories: AITC, Newsletters, Tax|

US Expats with non US corporations, hold your hats…..The Tax Cuts and Jobs Act (TCJA) of 2017 imposed a one [...]

150 Offshore Banks Are Turning Over Your Names To The IRS and the OVDP Program Ends on Sept. 28 – What Are You Waiting For?

October 1st, 2018|Categories: AITC, Newsletters, Tax|

The Internal Revenue Service announced in IR-2018-52 on March 13, 2018 that it will close the OVDP program on Sept. [...]

AGM 2018 Los Angeles

September 20th, 2018|Categories: AITC, Newsletters|

AITC held its AGM in Los Angeles between the 31st August and 2nd September 2018 hosted by our USA member [...]

Property acquisition opportunities in Mauritius: a must visit destination

August 21st, 2018|Categories: AITC, Newsletters|

Mauritius, ideally located in the Indian Ocean, has a mild, tropical climate year-round and is praised for its idyllic landscape [...]

PAPUA NEW GUINEA TAX – JUN 2018

July 19th, 2018|Categories: AITC, Newsletters, Tax|

This article highlights the changes introduced to tax remittance process by Internal Revenue Commission (IRC) of PNG, from 1 June [...]

AFRICA-TRADE STRAGEGY

July 6th, 2018|Categories: AITC|

Africa is the world's second largest and second most-populous continent with a population more than 1.25 billion. Today, Africa comprises [...]

New IP Box Regime in Luxembourg – 5,2% effective tax rate – BEPS compliant.

March 29th, 2018|Categories: AITC, Tax|Tags: , |

Luxembourg is known for its favorable intellectual property regime. Its legislation is also one of the main reasons why foreign [...]

India: Tax & Professional updates For March 2018

March 25th, 2018|Categories: AITC, Tax|Tags: , |

RBI had discontinued the Letter of Undertaking (LOU) & Letter of Comfort (LOC) for trade credit for import into India [...]

A comparison of Cyprus and BVI corporate structures in the light of recent global tax reforms.

March 23rd, 2018|Categories: AITC, Tax|Tags: , |

The recent revelations in the Panama and Paradise Papers illustrated the need for companies to make a shift towards more [...]

Interest on Home Equity Loans Often Still Deductible Under New Law

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

WASHINGTON - The Internal Revenue Service today advised taxpayers that in many cases they can continue to deduct interest paid [...]

Austrian premium for research and development has been increased to 14% as of January 1, 2018

March 19th, 2018|Categories: AITC, Tax|Tags: , |

In Austria, companies that carry out research and development are financially supported by the state. They may claim a research [...]

1st Taxpayer Victory in a “Willful” FBAR Penalty Case!

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

On September 20, 2017, the Eastern District of Pennsylvania issued an important taxpayer friendly opinion regarding the "willfulness" standard in [...]

Hong Kong uses massive fiscal surplus to spur innovation and alleviate taxes

March 11th, 2018|Categories: AITC, Tax|Tags: , |

Hong Kong recently announced record-breaking fiscal surplus of 138 billion HKD from the 2017-18 fiscal year. This is mostly thanks [...]

New chairperson for the National Council of Tax Advisors

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

On the weekend of 12th-14th of January 2018, the Fifth National Convention of Tax Advisors was held in Warsaw. A [...]

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 [...]

Transfer pricing of Inter-Company debt into Australia

June 28th, 2017|Categories: AITC, Newsletters|

The Full Federal Court has affirmed the decision of a single judge of the Federal Court, that Chevron Australia had [...]

Automatic Exchange of Financial Account Information (AEOI) – A matter of compliance for wealthy Chinese citizens?

June 22nd, 2017|Categories: AITC, Newsletters|Tags: |

In 2014, the Global Forum endorsed the new common reporting standard on automatic exchange of financial account information (AEOI). Jurisdictions [...]

The Romanian government has recently adopted new measures to combat tax evasion and tax planning

June 19th, 2017|Categories: AITC, Newsletters|Tags: |

The Romanian government has recently adopted new measures to combat tax evasion and tax planning by regulating the mandatory automatic [...]

Malta: A Start-Up Heaven

June 14th, 2017|Categories: AITC, Newsletters|Tags: |

With Malta’s central position in the Mediterranean and the United Kingdom’s Brexit procedures soon to be implemented, the time is [...]

Special Limited Partnership (SLP) as an Alternative Investment Fund solution

June 12th, 2017|Categories: AITC, Newsletters|Tags: |

The SLP can be setup as an unregulated alternative Investment Fund under the AIFMD The Special Limited Partnership is a [...]