Pakistan Business Council (PBC) has approached Finance Minister Ishaq Dar to stop the Federal Board of Revenue (FBR) from recovery proceedings of Super Tax against non-resident companies on dividend income from their investments in Pakistan. Sources told Business Recorder here on Tuesday that the PBC has urged the Finance Minister… – Continue reading
The Limited Liability Companies Bill, 2015 was published on 18th December 2015. It is likely to be enacted as the Limited Liability Companies Law in January 2016 and brought into force before the end of June 2016. Once that is completed, the Cayman Islands will then be able to offer… – Continue reading
Introduction Tax exemptions Eligibility Trademarks Calculating tax benefits Eligible costs Introduction At the end of 2014, the government presented the 2015 budget, which introduced a ‘Patent Box’ tax regime in line with similar schemes adopted in other European countries. It applies to corporate income tax and regional tax on productive… – Continue reading
Chevron, the US oil giant behind Australia’s biggest liquefied natural gas project, has been hit with claims its tax affairs are a “rort”. We have spent a year trying to find Australia’s biggest tax dodger and we’ve found it. It’s Chevron. Sam Dastyari But the company insists it is the… – Continue reading
The finance ministry, after due consultations with the SIT on black money and various financial probe agencies, has decided that a team of senior officials will hold bilateral meetings with foreign jurisdictions either in India or at the locations of their counterparts to thrash out issues quickly, reports the India… – Continue reading
ISLAMABAD: The Pakistan Customs detected 6,660 cases of seizures, mis-declaration or under/over invoicing involving an amount of customs duty and other taxes of Rs 15.825 billion in the last two fiscal years; 2013-14 and 2012-13. “In this connection, 110 FIRs were lodged whereas 179 persons have been arrested; resultantly, an… – Continue reading
ISLAMABAD: New policy measures, including by the Finance Ministry through Finance Act, 2014, have made business costly for the tax evaders and defaulters. One of the steps was introduction of a new regime for income tax returns filers and non filers on certain transactions. The higher rates of tax for… – Continue reading
Dechert Georgia, through the contribution of partners Archil Giorgadze and Nicola Mariani joined by senior associates, Ruslan Akhalaia and Irakli Sokolovski, is partnering with Georgia Today on a regular section of the paper which will provide updated information regarding significant legal changes and developments in Georgia. In particular, we will… – Continue reading
Despite the political and media pressure on offshore financial centers, new incorporations of offshore companies worldwide continue to grow. A new report on offshore company incorporations by law and fiduciary firm Appleby shows that new company registrations increased in most offshore jurisdictions in the second half of 2013. “As the… – Continue reading
Artur Bugsgang, partner at leading Danish law firm LETT looks at Denmark’s tax advantages. Denmark currently ranks fifth in the world in their ease of doing business index. The country is significantly less bureaucratic than the majority of its European neighbours, especially in regard to establishing and operating companies. Despite… – Continue reading
The Seychelles offer a wide variety of financial services, including offshore banking, investments and insurance. The inexpensive International Business Company (IBC) is the most popular corporate entity and can be used for many purposes with few limitations. The International Business Company IBC is the most widely used vehicle for offshore… – Continue reading
The Revenue (Reduction of Business Registration Fees) Order 2013, which reduces the prescribed business registration fee by a sum of $2,000 at present, will expire on 1 April 2014. Please refer to the website of the Inland Revenue Department and the business registration fee & levy table for details. With effect from 1 April… – Continue reading
The Department of Registrar of Companies and Official Receiver announces that as from 2 January 2014 documents which are submitted for the registration of New Companies, Partnerships/Business Names and European Companies, as well as documents which are submitted for any form of change to the particulars of a registered company… – Continue reading
