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 [...]

Are ordinary salary payments always deductible?

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

The Danish tax authorities have corrected the deductibility of ordinary salary payments of a number of Danish Banks following the [...]

New double taxation agreement between Austria and Israel to come

September 14th, 2017|Categories: Newsletters|Tags: |

In November 2016, a new double tax treaty (DBA) was negotiated between Austria and Israel. This DBA relates to taxes [...]

A Short Guide to Doing Business in Papua New Guinea

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

Doing business in PNG is challenging owing to the high cost of financing, shortage of skills, lack of infrastructure, etc. [...]

Cyprus and Luxembourg sign their first double tax treaty

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

For the first time, on 08 May 2017, Cyprus and Luxembourg have signed a Double Tax Treaty (DTT), thus leading [...]

Why Luxembourg?

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

One-stop-shop services for Ultra High Net Worth Individuals and Single Family Offices Whether your estate consists of a real estate, [...]

AITC Annual Conference 2017 held in Bucharest, ROMANIA

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

This year, the annual Meeting was held on 1st and 2nd September 2017 at one of the most distinguished venues [...]

How Does CRS & FATCA Affect US Taxpayers?

August 25th, 2017|Categories: Newsletters|Tags: |

On May 26, 2017 we posted Last Chance To Come Clean ... Automatic Exchange of Information Reporting Is Imminent! where [...]

Departing aliens and the sailing permit in the US

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

Most Persons Leaving The US Are Unaware Of This Most Un-Followed US Tax Rule- IRC Sec 6851(d) Sec. 6851(d) indicates [...]

Flat Tax: Italy opens its doors to the non-rich residents

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

The provision of Agenzia delle Entrate, 8th March 2017, operationalize the provision of Article 1, paragraph 152, of Law December [...]

Transfer Pricing in Papua New Guinea

August 14th, 2017|Categories: Newsletters|Tags: |

A. Introduction 1. Papua New Guinea’s income tax legislation provides the Commissioner General with wide powers, to adjust the taxable [...]

Company Incorporation and Set-up in Luxembourg

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

The formation of a Luxembourg Company usually takes place with these following steps. Due to its progressive and adaptive approach, [...]

New Cyprus 60-day tax residency test for individuals

August 7th, 2017|Categories: Newsletters|Tags: |

In July 2017, Cyprus enacted new legislation, amending the income tax law and introducing a separate test for the purposes [...]

Certain Updates on China VAT Reform

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

As from 1 July 2017, the 13% VAT rate was abolished in China and the rate for agricultural products, public [...]

Recent UK personal tax developments

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

Summer Finance Bill 2017 A new Finance Bill is to be introduced as soon as possible after the parliamentary Summer [...]

Tutta Fuffa e Niente Arrosto

July 19th, 2017|Categories: Newsletters|Tags: |

Further to the supposed revelations of the Malta Files, an interesting article which appeared in the Italian news portal  Mercati [...]

Brief summary of the Foreign Contractor Withholding Tax (FCWT) regime currently applicable in PNG

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

This article presents you with a brief summary of the Foreign Contractor Withholding Tax (FCWT) regime currently applicable in PNG. [...]

Greek Co. Not Liable For $4M Gain From Sale of US Partnership Interest

July 14th, 2017|Categories: Newsletters|Tags: |

The Tax Court has concluded that a foreign corporation's proceeds from the redemption of a U.S. limited liability company that [...]