2311, 2018

Employee Share Option Plans in Hong Kong

Employee Share Option Plans in Hong Kong How does ESOP work? Employee Share Option Plan (ESOP) refers to the mechanism by which a company (which can be either private or listed) offers to one of [...]

1511, 2018


The Deputy Prime Minister and Minister for Treasury, Hon. Charles Abel handed over the 2019 Budget on behalf of O’Neill-Abel Government, at the Parliament, yesterday. Theme of this year budget is “Building a Broader Based [...]

1411, 2018

Austrian Tax free allowance 2018 – pay less Income Tax

Dear clients, The year 2018 will come to its end soon and we wanted to remind you of the Austrian “Tax Free Allowance”. As a counterpart to the favoured taxation of the 13th and 14th [...]

3110, 2018

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

Malta announces its 2019 Budget whereby the country has recorded an economic growth leaving surplus of 1% in the country’s GDP. Malta’s labour market has increased resulting in a very low rate of unemployment. During [...]

3110, 2018

OVDP Ended Sept. 28 – So Now What?

We originally posted on March 13, 2018 IRS to End OVDP Sept. 28 - Last Chance for Taxpayers With Undisclosed Foreign Assets! where we discussed that the Internal Revenue Service announced in IR-2018-52 that it [...]

3010, 2018

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

On October 12, 2018, PNG’s Internal Revenue Commission (IRC) hosted a Meet and Greet session for certain large tax payers, at Revenue Haus in Port Moresby, and Shishya Business Services was a special invitee. The [...]

2910, 2018

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

Communiqué No. 48 regarding the Decree No. 32 on the Protection of the Value of the Turkish Currency is published in the Official Gazette on September 4th, 2018 and entered into force on the same [...]

2610, 2018

Accelerated Reduction of Company Tax Rates now Law

The previously legislated tax cuts for small business included a reduction to eligible entity’s rate to 27.5% and a progressive ramp up of the Turnover threshold, peaking in the current FY19 year at $50 million. [...]

2510, 2018

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

You may have already been asked for increased proof of identity and in some cases, information regarding your tax residency by your bank or lawyer. From 1 October 2018 all New Zealand Accountants need to [...]

1110, 2018

Malta goes Blockchain

Malta introduces the enactment of three pieces of legislation; namely: The Malta Digital Innovation Act, The Innovative Technology Arrangement and Services Act, and The Virtual Financial Assets Act. Although not yet in force, but it [...]

1010, 2018

New startup visa introduced in Shanghai

Shanghai’s Public Security Bureau introduced, in May 2018, a new ‘’Private Residence Permit (Entrepreneurship)’’, most commonly known as ‘’Business Startup visa’’ (创业签证), which enables foreign entrepreneurs to live in China while launching their innovative business [...]

1010, 2018

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

The Chinese Ministry of Commerce (‘’MOC’’) released on 30 July 2018 a draft on the amended Administrative Measures for Strategic Investment by Foreign Investors in Listed Companies (the ‘’Draft’’), which aims at further opening the [...]

1010, 2018

China Individual Income Tax Reform

The Chinese government has recently released the draft amendments to the Individual Income Tax (“IIT”) Law to the public for consultation. The proposed amendments comprise broad changes to the IIT system and the salient proposed [...]

110, 2018

US Expats with non US corporations

US Expats with non US corporations, hold your hats…..The Tax Cuts and Jobs Act (TCJA) of 2017 imposed a one time "deemed repatriation tax" or 'transition tax' of 15.5% on untaxed foreign earnings or business [...]

110, 2018

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

The Internal Revenue Service announced in IR-2018-52 on March 13, 2018 that it will close the OVDP program on Sept. 28, 2018. “Taxpayers Have Had Several Years to Come into Compliance with US Tax Laws [...]

2009, 2018

AGM 2018 Los Angeles

AITC held its AGM in Los Angeles between the 31st August and 2nd September 2018 hosted by our USA member Law Offices of John A. Strain. AITC would like to take this opportunity to thank [...]

2108, 2018

Property acquisition opportunities in Mauritius: a must visit destination

Mauritius, ideally located in the Indian Ocean, has a mild, tropical climate year-round and is praised for its idyllic landscape and luxurious island living style. It is now considered to be one of the tropical [...]

1907, 2018


This article highlights the changes introduced to tax remittance process by Internal Revenue Commission (IRC) of PNG, from 1 June 2018,   Unacceptable payment methods Personal Cheque and Company Cheque   Acceptable payment methods   [...]

607, 2018


Africa is the world's second largest and second most-populous continent with a population more than 1.25 billion. Today, Africa comprises of 54 sovereign countries, most of which have borders that were drawn during the era [...]

2405, 2018

AITC Welcomes the New Panama Member

The President and the Board of AITC welcome Mr. Alessandro Cavallera of N&C Capital as a new member within the association and wish a rewarding mutual cooperation. For more information please see the online information [...]

1905, 2018

Managing the Foreign remittance process in Papua New Guinea

In the past few years, we have seen PNG facing acute shortage of foreign currency and businesses are hard hit. In this month’s write up, we have focused on Foreign Remittance process in PNG and [...]

1605, 2018

India: Tax & Professional updates For May 2018

RBI came up with the latest changes on ECB on the 27th of April 2018, which has been incorporated in the Master Directions. In light of the requests received from corporates for further relaxation of [...]

1405, 2018

2018 Australian Federal Budget – A Business Perspective

The 2018 Federal Budget was in Tax and fiscal terms was a  generally a lacklustre affair. Herein is a business perspective synopsis. Company Tax Rates: No changes excepting as previously announced Personal income tax cuts: A [...]

1105, 2018

The Offshore Voluntary Disclosure Program and Cryptocurrency

Do you think the IRS's recent announcement that it is ending its Offshore Voluntary Disclosure Program (OVDP) and Streamlined program just as its enforcement of cryptocurrency compliance increases is a coincidence?  The IRS issued a [...]

705, 2018

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

The Tax Cuts and Jobs Act 2017 (TCJA) changed many things, including reporting and taxing requirements for US taxpayers living abroad. While the plan was marketed as a much needed tax simplification for Americans; the TCJA did not [...]