Living in a digitalised economy, it is no surprise that digital tax remains as one of the most debated topics in the business world. Here's more to it on what concerns Nigeria. ... - Continue reading
Wealthy people are increasingly facing investigation for suspected tax evasion, in a sign that HM Revenue & Customs is “keeping its promise” to intensify its crackdown on those hiding assets following the Panama Papers leak. ... - Continue reading
Cases where the amount of tax sought to be evaded or tax on under-reported income is lesser than ₹25 lakh, the person can be punished with imprisonment of at least three months and up to two years and with fine. ... - Continue reading
Clarifications on the double tax treaty between South Africa and the United Kingdom. ... - Continue reading
Renting your foreign property may require you to disclose information to the Canada Revenue Agency (the "CRA"). A Foreign Income Verification Statement is required to be filed with the CRA where the adjusted cost base of the property exceeds CDN $100,000. ... - Continue reading
Amendments to legislations regarding deadlines have been made and here they are. ... - Continue reading
Here is a discussion into the new legislation set to take place in Ukraine which aims to tackle profit shifting. While its objective is to encourage tax transparency, many businesses believe that this measure might have adverse effects for offshore trade. ... - Continue reading
Guidance for South Africans to gain residency in Portugal. ... - Continue reading
On 3 July, the OECD released model rules for tax reporting by platform operators that assist sellers in the sharing and gig economy. Following international efforts to address the tax challenges in the digital economy, this OECD guidance represents an important step towards transparency through the exchange of information. ... - Continue reading
The EU’s awareness of the relevance of tax policy is clear. On 6 July, the European Commission called for proposals for the creation of an EU tax observatory. This follows the adoption of the Commission Decision on the financing of the preparatory action EU Tax Observatory – Capacity building to support Union policy making in the area of taxation and the adoption of the annual work programme for 2020 on 16 June. ... - Continue reading
Multinationals with European Union operations need to be aware of the DAC6 reporting obligations, especially since there are situations in which multinationals will be required to report cross-border arrangements with local tax authorities. ... - Continue reading
Now existing in a digital-led world, economies of the world have been seriously contemplating on better methods to tackle digital tax. Nigeria is no exception to the rule. ... - Continue reading
OECD informs that the United States are still open to a discussion on digital tax despite asking for a pause due to more pressing matters. ... - Continue reading
Temporary changes in property tax have been announced by the Government. ... - Continue reading
According to Tax Transparency in Africa 2020 report, Africa needs to better combat illicit financial flows and be more lucid in tax matters. ... - Continue reading
More on the Canada-US tax treaty. ... - Continue reading
Transfer pricing after COVID-19 in Australia. ... - Continue reading
The U.S. Supreme Court refused to question a ruling that technology companies including Facebook Inc. and Google say will cost them billions of dollars in taxes by limiting deductions for stock payments to employees. The justices without comment Monday turned away an appeal by Intel Corp.’s Altera unit, which challenged… – Continue reading
The new Budget - Not too welcoming to Australian expats. ... - Continue reading
The USA backs down from talk regarding digital tax, hence engendering disagreements from European countries. ... - Continue reading
A further discussion on the possible treatment of digital taxes in today's world where it has its hugest economic presence. ... - Continue reading
Cyprus is aiming to better tackle tax avoidance by companies through a new legislation. The latter mainly addresses base erosion and profit shifting. ... - Continue reading
More on property tax laws in South Korea. ... - Continue reading
It is no surprise to anyone that we are now enterring a recession due to the economic chaos caused by the COVID-19. Consequently, countries all over the world have been adjusting their tax laws to the unprecedented turn of events. In this article, we will focus on transfer pricing laws. ... - Continue reading
The USA seems to be relentless at discouraging the trending 'Digital Tax which seems inevitable now. France has also already shown a keenness towards its imposition, and now it's the turn of Indonesia. ... - Continue reading
Under the Coronavirus Aid, Relief, and Economic Security (CARES) Act, U.S. corporations can now elect to carryback losses incurred in 2020 for a five-year period (2015 to 2019). While losses incurred in 2018 and 2019 can also be carried back five years, this article addresses 2020 current year opportunities. The… – Continue reading
Senator Sherwin Gatchalian expressed his disagreement concerning the treatment of online taxes. ... - Continue reading
The United States and Curacao have joined hands to better counteract tax avoidance on the behalf of multinationals. ... - Continue reading
Light upon intercompany financing transactions in the midst of the current pandemic. ... - Continue reading
The United Kingdom has decided to forge ahead with its implementation of the digital Services Tax (DST). ... - Continue reading
A discussion of the court case of Whirlpool Financial Corporation vs the IRS with respect to a transfer pricing perspective. ... - Continue reading
