By Olivier Bertin, DALDEWOLF
Belgium was one of the countries offering a tax advantage for income derived by companies, directly or indirectly, from patents. Said regime, granting an 80% exemption of the gross income, has been repealed as of 30 June 2016. It is now replaced by a larger “innovation income deduction”, organised in a statute of February 2017, but (retrospectively) applicable as of 1 July 2016.
By José Carreras Benitez, INTEGROUP, Tax, Legal & Audit
In October 2016, Congress approved some modifications to the tax regime applicable to the 2017 tax year. Most of these reforms entered into force on 1 January 2017. The government is attempting to curtail tax evasion while also offering some tax benefits.
By Ross D. R. Forrester, Westcourt Chartered Accountants
The Australian government has made significant steps in simplifying tax compliance for overseas persons doing business in Australia.
By Elizabeth V. Zanet and Philip R. Hirschfeld, Ruchelman P.L.L.C.
A real estate investment trust (REIT) is a tax-favourable entity used for investment in real estate and real estate mortgages. One advantage of the REIT is that, unlike a typical corporation, an REIT generally is not subject to entity-level taxation if it distributes its earnings and profits as dividends to its shareholders, since an REIT can claim deduction for such dividends. As a result, an REIT generally may avoid the double taxation that applies to corporations.
By Sergio Guerrero Rosas, Guerrero y Santana, S.C.
The word “discrepancy” itself has many negative connotations: uneven, unequal, possibly even unfair. Indeed, this is how it is considered in tax terms. So tread with caution, treat it with a healthy dose of respect, and, most importantly of all, be aware of the significant risks that tax discrepancy carries.
By Bernhard Schwechel, FACT GmbH
In January 2017, the German Cabinet proposed a new draft bill against harmful practices in connection with transfers of rights and licensing of intellectual property rights (so called licence barrier). It will have a material impact on the tax deductibility of royalties and licence fees owed to related persons.
By Robin de Raad, Zirkzee Group
As a result of BEPS Action 13, The Netherlands released tax law regarding transfer pricing (TP) documentation on January 1 2016. Under the new legislation, multinational enterprises (MNEs) with a minimum consolidated turnover of EUR 50 million will have to deal with a three-tiered approach to TP documentation: master file, local file and country-by-country report.
By Sabina Mexis, Devry Smith Frank LLP
The Excise Tax Act (“ETA”) does not clearly define what “carrying on business” means for purposes of the GST. “Business” is defined in subsection 123(1) of the ETA as follows:
By Sérgio Ramos, Pontes, Baptista & Associados
In addition to the wonderful Southern European climate and culture, Portugal provides an excellent quality of life and an active environment tor investors and businessman that wish to have a residence and business in Europe.
By Andrea Enrico Maria Eliseo and Prof Stefano Loconte, Loconte & Partners
In addition to the aesthetic return generated by art, there are many good reasons to consider art as an attractive asset class in terms of long-term investments. Art retains value and generates moderate real return, which is why art and collectible assets represent sizable assets for many high net worth individuals (HNWIs).
