By Emily Burns, Offit Kurman
In 1961, the United States Supreme Court held that even income generated from illegal activity is subject to federal taxation, which means cannabis businesses must pay federal income taxes, just like federally-legal businesses. However, because the possession, manufacture, and distribution of marihuana  remains illegal under federal law, cannabis businesses are subject to unique tax rules. This is the first of two blog posts covering the unique tax law restrictions applicable to businesses operating in the cannabis industry.
By Emily Burns, Offit Kurman
By Bernhard Schwechel, FACT GmbH
On 7 June 2017, almost 70 countries including Germany signed the so-called ‘Multilateral Instrument’ (MLI) in Paris. This is a product of the OECD’s BEPS project and designed to dynamically adjust a multitude of existing bilateral double taxation treaties (BDTs) between member countries to internationally accepted standards - faster than would be possible using individual bilateral negotiating procedures.
By Prof Dr Roberto M. Cagnazzo, Studio Tributario Cagnazzo
The Italian Tax Authorities have accused Google, Amazon and Facebook of tax avoidance. According to the Authorities, these internet giants have set up hidden permanent establishments in Italy and escape the payment of the taxes due in the country.
By Oliver Biernat, Benefitax GmbH
Implementing BEPS action plan 5, Germany will introduce partial or entire non-deductibility for preferentially taxed intra-group royalties (license barrier) as of 1 January 2018. The aim of the new Sec. 4j in the German Income Tax Act is to protect the German tax base during the transitional period until 30 June 2021, during which time countries will still be allowed to continue extending current benefits to existing beneficiaries of IP regimes.
By Sandrine Bonvin, Bonnefous & Cie SA
Until 2015, companies with headquarters in a foreign country and which booked business in Switzerland had no obligation regarding value-added tax (VAT).
By Richard Jahoda Jr, Grinex Czech Republic
The highly anticipated new edition of the OECD’s Transfer Pricing Guidelines was issued on 10 July 2017. It mainly reflects a consolidation of changes resulting from the BEPS project. Probably the greatest change in the 2017 edition is in the chapter on the arm’s length principle, in part explaining the identification of commercial or financial relations.
By Sergio Finulli and Andrea Angheleddu,COMMA 10 Chartered Accountants & Lawyers
Thanks to the new resident non-domiciled regime enacted in 2017, Italy, along with other countries, takes part in the challenge of attracting high-networth (HNW) individuals.
By Alexey Pyatov, Treuhand- und Revisionsgesellschaft Mattig-Suter & Partner
Swiss withholding taxes (WHT) are relevant for outbound payments from Swiss subsidiaries to international holdings. Dividends bear a 35% tax rate that can be only decreased by a Treaty or EU-Directive if particular requirements are met. The Swiss Federal Tax Authority (SFTA) checks for substance before allowing a WHT reduction. General considerations are a confirmation of tax residency, beneficial ownership and tax avoidance via Treaty shopping.
By Andre Groeneveld and Edward Hendrickx, EJP auditors & tax lawyers
Every Ultimate Beneficial Owner (UBO) with an ownership of 25% or more in a company will be registered as from this summer. This implies that the Chamber of Commerce in the Netherlands keeps a record of who has an ownership in which company and how large that share actually is (in parts of 25%).
By Robin de Raad, Zirkzee Group
The Netherlands is famous for its attractive tax structures as well as the possibility of obtaining certainties in advance from the Dutch Tax Authorities. However, international developments on international taxation issues could have an impact on certain R&D tax benefits. Is it still attractive to establish R&D activities in the Netherlands?
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