Jakarta, Indonesia

INTERNATIONAL TAX COMPLIANCE REGULATIONS IN (PART 11): Indonesia

By Jimmy Budhi, KAP Jimmy Budhi & Rekan

Indonesia entered into an international tax treaty taxation which required the country to participate in the implementation of the Automatic Exchange of Financial Account Information and established legal legislation concerning access to financial information for tax purposes prior to 30 June 2017.

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Mumbai, India

INTERNATIONAL TAX COMPLIANCE REGULATIONS IN (PART 10): India

By Ashishkumar Bairagra, M L BHUWANIA AND CO LLP

In dia is known for its strict international tax compliance applicable to residents as well as non-residents who are liable to file their tax returns in India. Landmark judgements include the case of Vodafone (on indirect purchase), Asia Satellite (on satellite charges), Formula One (on permanent establishment [PE]), Morgan Stanley (on dependent agent PE) and the most recent case of Master Card (on service PE).

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Cabo San Lucas, Baja California Sur, Mexico

Main Tax Implications for Foreign Investors in Mexico

By Mauricio Ramos Jimenez, Guerrero y Santana, S.C.

On 01 December 2018, Andrés Manuel López Obrador (or AMLO as he is commonly known) became president of Mexico after two consecutive unsuccessful presidential campaigns. AMLO has always had a leftist and populist agenda, and many feared he would make radical changes in several areas, including taxes, but what has really changed in the first months of his presidency? From a taxation perspective, not much has changed, at least not as a direct consequence of the new government.

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Budapest, Hungary

INTERNATIONAL TAX COMPLIANCE REGULATIONS IN (PART 9): Hungary

By Dr Anita Ihász Kovácsné, KRS Attorneys at Law

The main international tax compliance act (Act XXXVII) shall be applied to certain matters relating to the assessment of taxes, the collection of taxes and other charges, and the avoidance of double taxation, between EU member states and other international administrative cooperation. Those legal EU acts which affect the taxation procedure and cooperation between the tax authorities of EU member countries are mainly regulated in Act CL of 2017 on the rules of taxation. Moreover, Hungary has concluded international treaties for the avoidance of double taxation with more than 80 foreign countries – including all countries of the EU. The EU directives on taxation are implemented regarding taxation of companies in the Act on Corporate Tax and Dividend, regarding private individuals in the Act on Personal Income Tax, and regarding VAT in the Act on Value Added Tax.

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Hong Kong

INTERNATIONAL TAX COMPLIANCE REGULATIONS IN (PART 8): Hong Kong

By Ricky W. P. Wong, Wong Brothers CPA Limited

Hong Kong adopts a territorial basis for taxing profits derived from a trade, profession, or business carried on in Hong Kong under Section 14(1) of the Inland Revenue Ordinance (“IRO”). Profits tax is only charged on profits which arise in or are derived from Hong Kong. No tax is levied on profits arising abroad, even if they are remitted to Hong Kong.

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Rothenburg o. d. Tauber, Germany

Risk of German Limited Tax Liability Without Company Seat in Germany

By Brigitte Jakoby, Jakoby Dr Baumhof – Wirtschaftsprüfer Steuerberater Rechtsanwälte

The German Federal Fiscal Court (BFH) decided on 23 October 2018 that a company with a seat outside Germany becomes taxable in Germany if its manager has a private (second) home in Germany and is doing business for the company in Germany. In its decision, the BFH dealt with a limited capital company formed under the laws of Luxembourg. The business was conducted in Luxembourg by the managing partner. The business address in Luxembourg was also the private residence of the managing partner. But he also had a private residence in Germany and regularly visited the German suppliers in Germany.

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Frankfurt, Germany

INTERNATIONAL TAX COMPLIANCE REGULATIONS IN (PART 7): GERMANY

By Oliver Biernat, Benefitax GmbH

When foreigners want to do business in Germany, they have several possibilities. The basic form of doing business is to sell to German customers and meet the conditions to register for Value Added Tax purposes only. This may also apply to online sellers as operators of internet marketplaces have to provide information on companies whose turnover is subject to German turnover tax. Those affected need to apply for a VAT ID number and submit regular VAT declarations.

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Antibes, France

INTERNATIONAL TAX COMPLIANCE REGULATIONS IN (PART 6): France

 By Prof Robert Anthony, Anthony & Cie

France is a member of the OECD and has signed an exchange of information agreement and complies with base erosion profit shifting agreements, known as BEPS. It has transfer pricing legislation, anti-tax avoidance legislation, and, of course, a considerable number of tax treaties to avoid double taxation. This can apply to inheritance tax (which is less frequent) as well as corporate and personal taxation. France is a member of the European Union and complies with sales tax legislation as well as foreign-controlled corporation rules.

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Prague, Czech Republic

INTERNATIONAL TAX COMPLIANCE REGULATIONS IN (PART 5): Czech Republic

By Richard Jahoda, Grinex Czech Republic

The Czech Republic is one of the most developed industrialised countries in Central and Eastern Europe. Its strong industrial tradition dates to the nineteenth century, when the region was the economic motor of the Austro-Hungarian Empire. Czechoslovakia was the most prosperous country in the Eastern Bloc and after its dissolution the Czech Republic continued achieving economic success.

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Plane arriving or departing Tampa International Airport in Florida

US State-to-State Business Travel Compliance and Risks

By Fernando Lopez, Prager Metis International LLC

While organisations often overlook tax-compliance requirements related to business travel, the days of simply traveling to and working in a different state or country for business without a thought to tax liabilities are coming to an end. Looking for additional tax revenue, US state taxing authorities are becoming stricter and more vigilant in monitoring business travel.

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