Canada’s residential tax regimes 

By Elisabeth Colson and Bill Smith, Devry Smith Frank LLP 

For years, Canada’s residential real estate market grew rapidly, resulting in significant foreign investment. Governments of all levels in Canada have created new tax regimes to curb speculation. This article provides an overview of these rules.

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Port de Cassis, France

France is an attractive country to be tax resident

By Prof Robert Anthony, Anthony & Cie.

In France there is a forfeit tax of 30 percent on dividends. However, this is made up of 17.2 percent social charges and a 12.8 percent fixed rate of income tax. If one looks at the corporate tax rates in France of companies, one is taxed at 15 percent on the first EUR 42,500 of corporate profits and 25 percent thereafter.

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Navigating the taxation of pensions in the US/UK Double Tax Treaty

By Arvinder Matharu, Prager Metis

A new client recently engaged me to handle a HMRC investigation opened into his UK tax return which was prepared by his previous UK accountant. Specifically, HMRC has queried a claim for double tax relief where the US tax paid was being claimed as a credit against the UK tax liability. On review, the following facts were relevant:

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Real estate tax reform in Germany

By Niels Webersinn, nbs partners

As a result of the new real estate tax, 36 million economic units in Germany must be revalued in 2022 due to the decision of the German Constitutional Court on 10 April 2018, which declared the real estate tax valuation based on unit values no longer valid. The standard values as of 01 January 1935 (eastern Germany) and 01 January 1964 (western Germany) will lose their validity on 31 December 2024.

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Cali, Columbia

Asset Management in times of uncertainty

By Camilo J. Gaona, FRG Auditores y Consultores S.A.S.

Two and a half years of pandemic and three months of social upheaval, coupled with economic tension due to the container crisis and the global effects of the war in Ukraine, have assessed the resistance of Colombian businesspeople. The widespread closure of both large, century-old companies, and more than half a million micro-businesses show the profound impact of the situation on the national economy.

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Valletta, Malta

Maltese pension plans under the Malta/US Income Tax Treaty

By Gregory Dean, USTAXFS

Over the past decade, pension plans have been established and licensed in Malta with particular consideration given to US taxpayers. A number of these plans were designed to accept “rollovers” from foreign pensions plans owned by US persons – most notably from UK pension plans – combining the tax deferral benefits of a Qualifying Recognised Overseas Pension Scheme (QROPS) for UK tax purposes and the perceived US tax deferral benefits of a Malta pension.

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