By Dr Reinhard Nacke, FPS
Due to demographic change, there will be an ever-increasing number of old people’s homes in Germany. The federal states are legally obliged to create a suffcient number of such facilities. It could, therefore, be lucrative for investors to build an old people’s home and rent it out to a home operator. It should be noted, however, that the investor’s negotiations with the home operator will be different from those for ordinary commercial properties. For the latter, a rent is usually negotiated freely. It is also agreed that the rent will change similarly to the cost of living.
By Roberto M. Cagnazzo, Studio Tributario Cagnazzo
A recent decree has introduced significant tax benefits to sportspeople who transfer their tax residence to Italy, starting from 01 January 2020. The law provides two different regimes depending on whether the sportspeople are:
By Wolfgang Fürnschuss, Advocatur Seeger, Frick & Partner AG
Liechtenstein introduced its foundation law in 1926, when the country’s extensive Persons and Companies Act came into effect. This important piece of legislation set the scene for the country progressing from a mainly agricultural state to a wealthy economy offering a wide array of financial services.
By Mikhail Khaletsky, Nektorov, Saveliev & Partners
The use of tax benefits by foreign holding companies in earning passive income, such as dividends or interest, from Russia, requires such companies to provide proof of an actual right to the income.
By Pasquale Della Corte, COMMA 10
Italy has adopted the mandatory system of electronic invoices, effective from 01 January 2019, with the authorisation granted by the Council of the European Union. The invoice is issued in a predefined electronic format and then transmitted to the client and to the Italian Revenue Agency via an interchange system (SdI). This obligation exists for the supply of goods and the provision of services carried out between persons resident or established in Italy. Therefore, the electronic invoice is the only “offcial document” for such transactions, and also for VAT purposes.