2022 was a record year for the UK’s living sector. Investment into the sector exceeded £10bn in Q3, fuelled by growth across build to rent, student accommodation and healthcare. While the data for Q4 is yet to be revealed, JLL predicts that the total investment for the year could surpass the £13.8bn recorded in 2021 ...
By way of -providing guidelines for implementing the Tax Law No.106/2016/QH13 (Law 106) effective from 1 July 2016, the government has issued Decree 100/2016/ND-CP (Decree 100) on 1 July 2016 and the Ministry of Finance has issued Official Letter 10315/BTC-TCT dated 25 July 2016 (OL 10315) and Circular 130/2016/TT-BTC dated 12 August 2016 (Circular 130) ...
On 14 December 2022, following a campaign by the Royal Yachting Association, the UK Government confirmed that it would not be implementing changes to HMRC policy to enable UK residents that purchased (EU) VAT paid UK vessels located in the EU prior to the end of the Brexit transition period (31 December 2020) to bring these vessels back into the UK without incurring a second (UK) VAT charge ...
The recent judgment from the Supreme Court of the United Kingdom on Halliburton Company v Chubb Bermuda Insurance Ltd [2020] UKSC 48, raised important questions about the requirement that there can not only be no actual bias, but also no apparent bias on the part of arbitrators in favour of or against any party in arbitration and also about the obligation of arbitrators in international arbitrations to make disclosure of multiple appointments concerning the same or overlapping subje
Its fair to say 2008 was an extremely challenging year for UK property. Anything between 25-50% has been wiped off values from their peak in mid 2007 ...
If you look at the recent changes to income tax, in particular the introduction of a 7.5% rise in the taxation of dividends (announced by George Osborne in the last budget), it is hard not to conclude that entrepreneurs are being targeted by the government ...
As we emerge from the pandemic, UK cities have a positive future – from the growth of digital broadcasting in Manchester to the positive future for inward investment; from what is needed to preserve our high streets to excitement around the Birmingham 2022 Commonwealth Games. The UK Cities Investor Guide is a bi-annual publication produced in partnership with EG, and tackles some of the key challenges and opportunities facing the real estate investment market ...
In the recent Appeal Court case of Airtel Uganda Limited v. Uganda Revenue Authority, the provisions of section 15 of Uganda’s Tax Appeals Tribunal Act (TAT Act) and their wider implications came under scrutiny. In the case at hand, Airtel Uganda Limited (Airtel), a telecommunication company, lodged an objection to an assessment raised by the Uganda Revenue Authority (URA) on 25 February 2004 with the Tax Appeals Tribunal (TAT) ...
In the case of White Sapphire Ltd/Crane Bank Ltd vs the Commissioner General of the Uganda Revenue Authority (“URA”), the Ugandan High Court considered the notoriously controversial anti-avoidance provisions, in terms of which the benefits of a double tax agreement (“DTA”) concluded by Uganda would not be available where at least 50% of the underlying ownership of the resident of the other contracting state is not held by individuals resident in such other contr
The UAE Ministry of Finance has announced the Executive Regulation for the Federal Decree-Law No. (8) of 2017 on Value Added Tax (UAE VAT Legislation) at a Cabinet meeting on 7 November 2017, headed by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, Ruler of Dubai. It is expected that the Executive Regulation to UAE VAT Legislation will be released this week in draft form on both the UAE Ministry of Finance’s website (www.mof.gov ...
The UAE Ministry of Finance released Cabinet decision No. 59 specifying all Designated Zones be effective the begining of 2018 for the purposes of implementing the Designated Zone provisions in Federal Decree Law No 8 on Value Added Tax. The Cabinet has the authority to amend the list of Designated Zones as required ...
A previous in Brief dated 7 July 2019 discussed UAE Cabinet Resolution 31 of 2019 Concerning Economic Substance Regulations (the UAE Economic Substance Regulations or the Regulations). The UAE Economic Substance Regulations designated the UAE Ministry of Finance as the Competent Authority ...
January 2022 began with the announcement that businesses and corporations will be subject to Corporate Tax (CT) from 1 June 2023. While the UAE Ministry of Finance helpfully provided information on the basic tenets of CT, including a comprehensive white paper, the CT Law governing CT was published on 9 December 2022 providing clarity. However, there are still a number of areas that will be further clarified through the implementing regulations ...
By Bashir Ahmed, Saurbh Kothari and Dimple Soni 7 June 2022 Last year we had reported that the Federal Tax Authority (the FTA) has started to impose penalties on entities that have failed to submit their economic substance notifications by the set deadline of 30 June 2020 for the financial period ended on 31 December 2019, and the economic substance reports by the set deadline of 31 December 2020 for the financial period ended on 31 December 2019 ...
The Federal Tax Authority (the FTA) has started to impose penalties on businesses that have failed to submit their economic substance notifications by the set deadline of 30 June 2020 for the financial period ended on 31 December 2019, and the economic substance reports by the set deadline of 31 December 2020 for the financial period ended on 31 December 2019 ...
On 27 August 2017, the United Arab Emirates (the "UAE") published the text of its domestic Value Added Tax (the "VAT") Law, shortly after releasing the text of its Excise Tax Law last week, and the Federal Tax Procedures Law earlier this month. It will be followed by implementing regulations, which will provide more detail on application of the VAT Law.The UAE Government is still planning to introduce VAT on 1 January 2018 ...
April 23, 2024 By: Alicia Guerra, John Epperson, and Braeden Mansouri On April 12, 2024, the U.S. Supreme Court issued an important decision that may have major impacts on developers in California, although the degree of impact will depend on how lower courts interpret that decision. In Sheetz v ...
On January 1, 2024, regulations implementing the Corporate Transparency Act (“CTA”) became effective, triggering new reporting obligations for many entities conducting business within the United States ...
Design of the Models Taiwan law provides for two models for private parties to participate in governmental infrastructure projects. One is the model under the Government Procurement Act (“GPA Model”) and the other is the Public-Private Partnerships Law (“PPP Model”). The most significant difference between the two models lies in the funding entity ...
In fact, the impact of the pandemic on private clients has been the opposite: many have experienced increases in their personal wealth that have been nothing short of startling. According to the Global Wealth Report published by Credit Suisse in June 2021, more than five million people became millionaires across the world in 2020 despite economic damage from the Covid-19 pandemic ...
2018 has passed; it was full of events and changes in legislation. We would like to share the main trends in registration of business in Russia in 2018 with you. Federal Tax Service (hereinafter the “FTS”) continued its campaign on introducing records on non-reliable data about business into the Unified State Register of Legal Entities (hereinafter “USRLE”), even in respect of the compliant businesses ...
In the slipstream of the general Belgian, European and global economies, 2010 will be qualified as ayear of slow and prudent transition for Belgium’s real estate market. After a correction process in 2008-2009, the Belgian real estate market is showing signs of recovery, and the appetite for investments appears to be increasing ...
On 3 April 2008, the Supreme Administrative Court announced a decision in a case which has given rise to strong reactions among tax law specialists. The criticism has been harsh and concerns the Supreme Administrative Court’s decision to give the Swedish CFC-rules precedence over the Swedish-Swiss tax treaty ...
On December 14, 2021, Treasury issued an important update to its guidance on use of CARES Act funds. Currently, there is a deadline of December 31, 2021 to spend CARES Act funds on eligible expenses. While Congress is considering legislation that would extend that deadline to December 31, 2022, there is no assurance that legislation will pass ...
