By Cédric-Olivier Jenoure and Sascha Wohlgemuth, Bratschi Ltd.
Multiple novelties and changes in the Swiss tax at source hold risks for companies and groups concerning the correct declaration of the income of employees who are foreign residents without settlement permits. Companies, as employers who are liable for the payment of the tax, must take the following into account:
By Brigitte Jakoby, Jakoby Dr Baumhof - Wirtschaftsprüfer Steuerberater Rechtsanwälte
In this case, Mitteldeutsche Hartstein-Industrie AG deals with the deduction of input VAT for construction work of public roads.
By Jeffrey A. Ford, Grossman Yanak & Ford LLP
Global market participants are transitioning from using or referencing the LIBOR and similar interbank offered rates to alternative reference rates. In response, in the United States, the FASB issued ASUs 2020-04 and 2021-01 to provide optional expedients and exceptions for affected contract modifications, hedge accounting, and held-to-maturity (HTM) debt securities. A high-level summary of the optional expedients follows.
By Deborah Nadav, Citroen Wells Chartered Accountants
Since 01 April 2015, the UK has had one flat rate of corporation tax, currently 19%. This is set to change effective 01 April 2023, with the Finance Act 2021 reintroducing the small profits rate. The main rate of corporation tax will increase to 25% for companies with profits over GBP 250,000 and a small profits rate of 19% will apply to most companies with profits up to GBP 50,000. Companies earning profits of between GBP 50,000 and GBP 250,000 will apply marginal relief.
By Michael Murphy, Ervin Cohen & Jessup LLP
The lack of diversity on corporate boards – and how to cure this problem – has long been a topic of debate. A 2018 McKinsey study reported a correlation between companies with diversity in management and “greater financial returns”. Activists often cite this study when pressuring companies to diversify leadership.