SyCipLaw’sTax Department has prepared Tax Issues and Practical Solutions(T.I.P.S.) for May. Please read the full text hereor via this link.SyCipLaw’s Tax Department has prepared Tax Issues and Practical Solutions (T.I.P.S ...
Joseph Raczynski joins Paul Caddy to discuss horizon-gazing and what the future might hold. Joseph is a leading technologist and futurist. He speaks globally on subjects like blockchain, artificial intelligence, cryptocurrency, the Metaverse, NFTs and cybersecurity. Joseph hosts Technology Snippets Today a video podcast series which explores cutting edge technology and innovation ...
On 9 June 2023, the Luxembourg direct tax authority (Administration des contributions directes, the “ACD”) released a 3-page circular – L.I ...
“Why don’t I own this?” The words of oil prospector Daniel Plainview to his property advisor, querying the land rights for his oil pipeline to the California coast in the Oscar winning film ‘There Will Be Blood, and a blunt, single sentence reminder of the need for early due diligence on large scale developments ...
Monday, May 29, 2023, marked the official end of the 88th regular session of the Texas Legislature. It was an especially active session for the energy industry, which saw the passage of several bills that, if signed into law by Gov. Greg Abbott, will have significant and long-term impacts on the oil and gas, renewable energy and power sectors in Texas ...
Less than a month to go! Our Tax Team wishes to remind you of the fast-approaching deadline for the submission of your annual corporate tax returns for the financial year ended 31 March 2023 (“FY 2022-2023”). All Myanmar taxpayers (corporate entities, non-profit organizations, and individuals) should file their annual tax returns on or before 30 June 2023 ...
The Internal Revenue Department (“IRD”) has recently issued an announcement informing newly-registered companies, entities, and individuals to register for tax using the e-Registration Management System (“ERMS”) starting 23 May 2023. Prior to the ERMS, a taxpayer who is applying for a Taxpayer Identification Number (“TIN”) will have to manually submit the relevant documents to the Central Taxpayers Service Unit (“CTSU”) of the IRD ...
On 25 April 2023, the Ministry of Planning and Finance (“MOPF”) issued a new Standard Operating Procedure (“SOP”) outlining the additional tax requirements when remitting foreign currency payments from Myanmar to overseas. This SOP is effective on 1 May 2023 and applies to individuals, companies, and organizations that are transferring foreign currency payments exceeding USD 10,000 (or its equivalent) ...
Overview On the 16th of May 2023, the New Law on Taxation (“New Taxation Law”) was promulgated by Royal Kram No. NS/RKM/0523/004. The New Taxation Law abrogates the Law on Taxation, promulgated by Royal Kram No. NS/RK/0297/03, dated February 24, 1997 (“Former Taxation Law”), and the Law on Amendment to the Law on Taxation, promulgated by Royal Kram No. NS/RK/0303/010, dated March 31, 2003 ...
On 27 April 2023, the ECJ (Case C-537/20) ruled that Article 63 of the Treaty on the Functioning of the European Union (the “TFEU”) must be interpreted as “precluding legislation of a Member State which makes non-resident specialised property funds partially liable to corporate income tax in respect of the income from property which they receive in the territory of that Member State, whereas resident specialised property funds are exempted from that tax” ...
As a matter of important update that may impact potential and scheduled payments of dividends, interest, royalties and other similar “passive types” of income from Russia, please be informed that on 18th of May 2023 Russian Media has announced that Double Tax Treaties (the “DTTs”) with “Unfriendly States” will be temporarily suspended by the Presidential Decree in June 2023 ...
Notification 020/23 was issued by the Accounting and Auditing Regulator (ACAR) on the 12th of May 2023 concerning the Extension to Submit Annual Financial Statements for the 2022 financial year for Enterprises and Non-Profit Organizations that are not subject to independent financial audits ...
Last Friday, on 12 May 2023, the UAE Ministry of Finance (Ministry) published an Explanatory Guide which provides an explanation of the meaning and intended effect of each article of the Corporate Tax (CT) Law. The Explanatory Guide may be accessedHere ...
Corporate flexibility Jersey’s corporate law regime is modern and flexible, providing a wide range of structuring options that can be tailored to the specific needs of the business. This flexibility is particularly useful for companies looking to list in the U.S., as Jersey companies can look and feel very similar to Delaware corporations where that is desirable. Direct listing Jersey companies can list securities in the U.S ...
The Norwegian Government today, ahead of presenting the revised budget for 2023, announced postponed implementation of resource rent tax on onshore wind power. The proposal for a resource rent tax was sent for consultation on 16th December 2022, with the deadline set for 15th March 2023. The initial plan was to implement the tax from 2023, but the effective date is now under review, partly due to feedback received during the consultation period ...
On March 21, 2023, Quebec?s Minister of Finance tabled his budget for the 2023-2024 fiscal year. One of the budget?s key measures is the introduction of a new tax holiday in connection with major investment projects. At first glance, the new measure does not appear to be specifically aimed at the mining industry, but some mining companies involved in the extraction of critical and strategic minerals and planning substantial investments in the near future could greatly benefit from it ...
1. Which factors bring an individual within the scope of tax on income and capital gains? Bermuda does not impose income or capital gains taxes. 2 ...
1. Which factors bring an individual within the scope of tax on income and capital gains? Liability to Guernsey income tax is generally dependent on residential status. However, certain other types of income arising, or from a source, in Guernsey can give rise to a liability to Guernsey income tax irrespective of the residence status of the recipient ...
1. Which factors bring an individual within the scope of tax on income and capital gains? The Cayman Islands has no income or capital gains tax. 2. What are the taxes and rates of tax to which an individual is subject in respect of income and capital gains and, in relation to those taxes, when does the tax year start and end, and when must tax returns be submitted and tax paid? As above, the Cayman Islands has no income or capital gains tax. 3 ...
1. Which factors bring an individual within the scope of tax on income and capital gains? The charge to income tax in Jersey is assessed by reference to a person's residence status: A person who is resident and ordinarily resident in Jersey is charged to income tax on all of his/her Jersey and worldwide source income, whether remitted to Jersey or not ...
1. Which factors bring an individual within the scope of tax on income and capital gains? There are currently no forms of income or capital gains tax in the British Virgin Islands (BVI). Residence and domicile is not relevant to an individual's tax status in the BVI. However an individual is taxable in the BVI if they are gainfully employed (§2) or transfer ownership of BVI property (§8) ...
Introduction An EU Regulation on the making available on the Union market as well as export from the Union of certain commodities and products associated with deforestation and forest degradation (“Deforestation Regulation”) was agreed upon by the EU legislators in December 2022. The European Parliament has now green-lighted the Provisional Agreement at this month’s plenary session ...
