Sydney, Australia

Investing in Australia – don’t lose your losses

By Peter Cohilj and Tony Nunes, Kelly + Partners Chartered Accountants

When establishing business in Australia, a foreign parent company will often incorporate an Australian subsidiary to conduct its Australian business. As the Australian company expands, the strategic acquisition and merger of an Australian competitor may occur. Forming an Australian tax consolidated group with the target can provide various advantages including:

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The impact of Covid-19 on business valuations

By Stuart Noland, Nolands Capital

The Covid-19 pandemic has irrefutably had a major effect on the global business landscape, shining the spotlight on business valuations during a time when investors are scrambling to understand the impact on their businesses.

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s-Hertogenbosch, The Netherlands

Investment vehicles under the Dutch participation exemption

By Carijn van Helvoirt-Franssen and Roel Jansen, EJP Accountants & Adviseurs

If a Dutch company holds at least 5% of the paid-up capital on shares in another company (subsidiary), in general, the participation exemption applies. However, if the subsidiary is considered an investment vehicle, there might be some obstacles in the way. We will elaborate on that on a high level basis below.

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How to increase the valuation multiple in your business

By Dolf Campman, Regent Assay

When valuing a company, it is common knowledge that the valuation derived is calculated by Profit x Multiple. It is widely assumed that M is market driven, but this has been disproved. While all industries have a benchmark, M in the Profit x Multiple calculation can be optimised by:

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Calgary, Canada

Optimising Canadian tax in M&A

By Aasim Hirji and Doug McCartney, Moodys Private Client

The need for corporate and tax advisors to collaborate is clearly evident within the context of mergers and acquisitions. A common issue in M&A is whether the parties should complete a share sale or an asset sale. In a share sale, the amount of corporate and tax due diligence required by a purchaser is significantly higher than the due diligence typically undertaken in an asset purchase. Whereas in an asset sale a purchaser can choose the assets it wants to acquire and which liabilities it is willing to assume, thereby reducing its required due diligence.

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The French M&A outlook for 2022

By Carole Hong Tran, FIDAG SARL

Mergers and acquisitions saw a record year of transactions and amounts in 2021. Despite the threat of new Covid-19 variants and the tightening of financing conditions, growth forecasts for 2022 are very promising.

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Glasgow, Scotland, UK

Employee ownership in Scotland

By Graham Bell, Wright, Johnston & Mackenzie LLP

Employee ownership is the exit plan that safeguards jobs and improves employee engagement. When all employees have a direct and/or indirect share ownership stake, there are unlikely to be significant external shareholders and there will be organisational structures that promote employee engagement. This can include access to information, employee participation and active expression, a commitment to staff training, and a strong organisational ethos.

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Go on the offence, sometimes using your defence

By Rajesh U. Kothari, Cascade Partners
due dil·i·gence – n. reasonable steps taken by a person in order to satisfy a legal requirement, especially in buying or selling something - As part of the process of preparing for the sale of a company, most investment bankers perform a level of due diligence on their client's business before they go to market. This diligence not only helps protect the investment banker but it can also be an essential exercise to preserve and, in some cases, even drive value. 

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