Legal knowledge portal Sharing legal knowledge together
The final tax reform bill signed by President Trump on December 21, 2017 makes substantial changes to executive compensation paid by private and public companies and non-profit organizations. But it could have been worse. Significant restrictions on nonqualified deferred compensation plans were removed from the final bill. This article briefly ... Read More »
Category Archives: Tax law
Feed Subscription<
Tax Compliance Management Systems – Compulsory or optional?
March 23, 2018
Compliance management systems (CMS) – hardly a day goes by without being reported on their necessity. Latest buzzword: tax compliance. What is behind all this? Does tax compliance make sense? What are the benefits of tax compliance? Compliance and tax practice German tax law is complicated and is considered one ... Read More »
-
by: Buse Heberer Fromm
in Compliance, Germany, Tax law
Revocation of an appointment to the management board based on a withdrawal of confidence
January 22, 2018
The Federal Court of Justice (BGH) judged previously disputed legal questions regarding the dismissal of a management board member based on a withdrawal of confidence by the annual general meeting in favor of the shareholders. The withdrawal of confidence does not have to be explained. A corresponding resolution of the ... Read More »
-
by: Buse Heberer Fromm
in Corporate law, Germany, Tax law
Share Deal: Imputation of Knowledge of the Managing Director
January 18, 2018
With a judgment dated June 16, 2016, the Higher Regional Court (OLG) of Düsseldorf (File reference I-6 U 20/15) has decided that the knowledge of the managing director of the target company, who is acting as a representative and who has, from the outset, an interest in the buyer’s business ... Read More »
-
by: Buse Heberer Fromm
in Corporate law, Germany, Tax law
Belgium reduces its corporate tax rates
January 16, 2018
On 22 December 2017, the Belgian Parliament voted a Law which reduces Belgian corporate tax rates with effect from 1 January 2018. The law is the first part of a Company Tax Reform which aims inter alia to progressively reduce corporate income tax rates. With effect from 1 January 2018, ... Read More »
-
by: CEW & Partners
in Belgium, Corporate law, Tax law
Federal Fiscal Court extends possibilities for tax-neutral departures from partnerships
December 22, 2017
Partners shall be able to leave the partnership to a greater extent without disclosing hidden reserves. Background: The partner leaving a partnership generally has a claim for compensation against the company. Since this compensation claim can put the company in considerable liquidity difficulties, the partner is often compensated with real ... Read More »
-
by: Buse Heberer Fromm
in Germany, Tax law
New tax on securities accounts
October 26, 2017
One of the key measures of the Belgian Budget bill for 2018 is the introduction of a new tax on securities accounts for Belgian individual tax residents. Non-resident individuals and Belgian and non-Belgian resident companies are not covered by this new tax. A securities account is a special purpose bank ... Read More »
-
by: CEW & Partners
in Belgium, Tax law
Tax-Loss Carryfowards of Corporations. What is new? What should be done?
July 19, 2017
The German legislator has opened up new possibilities for corporations to continue to use tax losses in the event of a qualified change of shareholders. The intention is to eliminate obstacles to the capitalization of companies. Background An important downside to the acquisition of shares in a corporation (e.g. a ... Read More »
-
by: Buse Heberer Fromm
in Corporate law, Germany, Tax law
Supreme Court provides clarity on the term ‘home’ in relation to transfer tax
March 23, 2017
The transfer of a home is taxed at a reduced transfer tax rate. The purchaser must pay 2% transfer tax on the value of the home whilst for other property this is in principle 6%. In practice, this has led to substantial discussions between a purchaser and the tax inspector ... Read More »
by: 
Reasoned opinion of the European Commission against the fines charged in Spain for failure to fill the tax declaration on assets held abroad
March 9, 2017
After the claims filed in November, 2015, by foreigners residing in Spain, the European Commission has recently issued a reasoned opinion requesting Spain to change its rules on assets held in other EU or the European Economic Area (EEA) Member States (so-called “Modelo 720”), as the fines charged for failure ... Read More »
by:
Changes to Taxation of Life Insurance Impacts Estate Planning
December 20, 2016
On January 1, 2017, new rules affecting the taxation of life insurance will come into effect under the Income Tax Act. These rules were introduced in 2012 and received Royal Assent in December 2014, but were given a grace period for implementation due to their significant effects on life insurance ... Read More »
-
by: USLAW
in Tax law, United States of America
Liability of a representative for taxes
November 23, 2016
Liability of a representative for taxes means that a representative of a company may be jointly liable for a company’s taxes. The purpose of introducing this responsibility is that the legislature intended to prevent that representatives for companies, by failing to pay taxes on time, provides the company credit and ... Read More »
by: 
Changes in the Czech tax law: new rules for the acquisition of immovable assets tax
October 25, 2016
The new rules are introduces by the Novelization of the statutory measure of Senate No. 340/2013 Coll., on the acquisition of immovable assets tax, which was published in the Czech Collection of Laws under No. 254/2016 Coll. and will become effective as of November 1, 2016. The main purpose of ... Read More »
by: 
Fiscal Representatives (Financial Services Undertakings Exercising a European Right) (Revocation) Regulations 2016 – L.N. 3 of 2016
February 2, 2016
The Fiscal Representatives (Financial Services Undertakings Exercising a European Right) Regulations issued during year 2004 state that any European credit institution, European insurance undertaking or European investment firm which seeks to provide services in Malta without being resident in Malta and without having a place of business in Malta, shall ... Read More »
-
by: EMD Advocates
in Malta, Tax law
Expenses allowable for tax deduction purposes will highly depend on presentation of valid VAT invoices.
January 29, 2016
The 2016 Budget Measures Bill proposes that from year of assessment 2017, all expenses will be considered allowable for tax deduction, only if the invoice/fiscal receipt presented is valid for VAT purposes. Should the new provision be enacted, it will consequently amend Article 14 of the Income Tax Act-“Deductions”, whereby ... Read More »
-
by: EMD Advocates
in Corporate law, Malta, Tax law