AITC Tax Newsletters

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. [...]

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 [...]

AITC Welcomes the New Panama Member

May 24th, 2018|Categories: Newsletters, Tax|

The President and the Board of AITC welcome Mr. Alessandro Cavallera of N&C Capital as a new member within the [...]

Managing the Foreign remittance process in Papua New Guinea

May 19th, 2018|Categories: Newsletters, Tax|

In the past few years, we have seen PNG facing acute shortage of foreign currency and businesses are hard hit. [...]

India: Tax & Professional updates For May 2018

May 16th, 2018|Categories: Newsletters, Tax|

RBI came up with the latest changes on ECB on the 27th of April 2018, which has been incorporated in [...]

2018 Australian Federal Budget – A Business Perspective

May 14th, 2018|Categories: Newsletters, Tax|

The 2018 Federal Budget was in Tax and fiscal terms was a  generally a lacklustre affair. Herein is a business [...]

The Offshore Voluntary Disclosure Program and Cryptocurrency

May 11th, 2018|Categories: Newsletters, Tax|

Do you think the IRS's recent announcement that it is ending its Offshore Voluntary Disclosure Program (OVDP) and Streamlined program [...]

US Expatriates Living Abroad – What You Should Know About the New Tax Law – Part II

May 7th, 2018|Categories: Newsletters, Tax|

The Tax Cuts and Jobs Act 2017 (TCJA) changed many things, including reporting and taxing requirements for US taxpayers living abroad. [...]

Mauritius: 50 years of Independence this year

April 23rd, 2018|Categories: Newsletters, Tax|

Mauritius having attained its independence on 12 March 1968, has celebrated it’s 50 years of Independence this year. The Golden [...]

Creatrust Securitisation Platform

April 20th, 2018|Categories: Newsletters, Tax|

Promoters or Issuers use securitisation vehicles as an alternative to traditional bank funding, to transfer risk or deconsolidate risk off [...]

US Expatriates Living Abroad – What You Should Know About the New Tax Law – Part I

April 16th, 2018|Categories: Newsletters, Tax|

The Tax Cuts and Jobs Act 2017 (TCJA) changed many things, including reporting and taxing requirements for US taxpayers living abroad. [...]

Hong Kong continues to expand its tax treaty network – New double taxation agreement with India

April 13th, 2018|Categories: Newsletters, Tax|

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

India: Professional updates for April 2018

April 11th, 2018|Categories: Newsletters, Tax|

CBIC clarified that LUT shall be deemed to be accepted on Generation of ARN, No documents required to be physically [...]

Why it is important to reconcile your tax balance regularly

April 7th, 2018|Categories: Newsletters, Tax|

In this month’s write up, we will highlight the importance of reconciling your taxes with the revenue authority in PNG [...]

$1 Billion in Refunds Still Unclaimed from 2014 Returns

April 3rd, 2018|Categories: Newsletters, Tax|Tags: |

Under Internal Revenue Code Section 6511(a)Period of Limitation on Filing Claim.— a claim for refund or credit must be filed [...]

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 [...]