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
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 »
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 »
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
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 »
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 »
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
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
January 25, 2016
Those who are tax resident in Spain (both local Spanish residents and expats resident in Spain) are legally obliged to provide information to the Spanish tax authorities regarding any offshore accounts, offshore investments, and real estate located abroad. Although this declaration of assets and right abroad is solely informative and ... Read More »
by: Adarve Abogados SLP
January 21, 2016
The double tax treaty between Malta and Curacao has been signed but is not yet in force. The treaty has been modelled based on the OECD model convention. Taxes covered include income tax levied in Malta and income tax, salaries tax, profit tax, dividend tax levied in Curacao. Read More »
by: EMD Advocates
January 19, 2016
Tax deductions relating to donations made to the Malta Community Chest Fund are regulated by Subsidiary Legislation 123.162, ‘Donations (Community Chest Fund) Rules’. The rules currently refer to donations made between 1st January and 31st December 2014 but will now be amended to apply for donations made between 1st January ... Read More »
by: EMD Advocates
January 15, 2016
Article 12(1)(v) of the Income Tax Act provides for a tax exemption in relation to income received from royalties, advances and similar income derived from patents in respect of inventions, copyright and trademarks as may be prescribed. This exemption was only being applicable for income received from royalties derived from ... Read More »
by: EMD Advocates
August 24, 2015
Several significant tax changes came from an unlikely source – the Surface Transportation and Veterans Health Care Choice Improvement Act of 2015 (HR 3236).[1] Among the important tax provisions of HR 3236 are the following. Modified FBAR Filing Date Certain US persons with foreign financial accounts are required to file ... Read More »
by: USLAW
August 12, 2015
The Tax Court of Cologne has ordered a minority shareholder to pay income and sales tax (case no. 13 K 3023/13). The shareholder was making a business out of systematically raising legal challenges and then being persuaded to withdraw his claims in return for a lavish settlement. The man cashed ... Read More »
by: Buse Heberer Fromm
April 23, 2015
This is the third chapter from the ‘Awara Russian Tax Guide’ book written by Jon Hellevig, Anton Kabakov and Artem Usov and updated in 2015. The Russian judicial system is currently undergoing serious reform. The main reform is that the previously acting specialized court for commercial disputes (the Supreme Commercial ... Read More »
by: Hellevig, Klein & Usov
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