Taxation

Mexico "sugar tax" is in fact extensive tax reform

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By Sergio Guerrero Rosas, Guerrero y Santana, S.C.

After receiving the opinion of the Commission of Finance and Public Credit, last month the Mexican Congress approved the economic package proposed by President Peña Nieto on 8 September 2013. The package includes substantial amendments to, as well as the repeal and enactment of, various tax laws. The objective of the proposal is to generate employment and support the economy through a counter-cyclical effort. However, no programmes have been created or launched to stimulate investment or employment.

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Taxation

Trusts and international tax planning: a brief world tour perspective

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By Professor Robert Anthony, Graham Busch, Brigitte Jakoby, Nick Dornburg, Sergio Finulli, Fola Olaniyan, Robert R. Worthington, Angel Gabriel Viso, Ashish Bairagra and Ricky Wong, Independent member firms of GGI

The following article considers the efficacy of the trust as a means of tax planning, and considers how trusts are dealt with in a variety of jurisdictions.

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Taxation

OECD presents united front against aggressive tax optimization

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The revenue that states are losing due to international tax optimization by large companies is back into the focus of the Organization for Economic Co-operation and Development (OECD). According to the OECD study "Addressing Base Erosion and Profit Shifting", multinational corporations are eroding the tax base and disproportionately shifting their profits.

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Taxation

New Tax Regime in the Republic of Cyprus

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By Marios Eliades, M. Eliades & Partners LLC

The House of Representatives of the Republic of Cyprus has introduced new legislation relating to the intellectual property regime,  interest deductibility, group relief and deemed distribution of dividends. The new legislation became effective 1st January 2012.

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Taxation

The UK’s secret international trading vehicle

By Graham Busch, Lawrence Grant

Come in James Bond? Shaken not stirred? Well, to be honest, the vehicle to which I refer is not 007's Aston Martin. Nothing quite so glamorous. Nonetheless, a very interesting opportunity for international traders wishing to use a UK entity that offers limited liability in a potentially (entirely) UK tax-free environment. I am talking here about the UK Limited Liability Partnership, or LLP.

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Taxation

Poland has become a tax haven

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By Artur Plutowski, EFS Group


The latest issue of Der Spiegel (German weekly magazine) awarded Poland the European Champion due to the excellent performance of the Polish economy which has achieved GDP growth over last 6-8 years. In that period Poland became a very attractive investment location. In the last months Poland became even more attractive; it became a tax haven. Savings can be achieved by the implementation of structures including a vehicle in the form of a Limited Joint Stock Partnership (the 'Partnership').

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Taxation

UK Budget Changes Affecting UK Property

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By David J Kidd, Citroen Wells Financial Audit & Accountancy Services


London as favoured location? There was a recent report that London and New York are still the favoured places for the world's wealthy to buy houses, but competition is growing from Beijing and Dubai. Quality of life and economic activity were, according to the report, among key factors for the wealthy in choosing where to invest. London came top of the list in most factors and was still expected to be top of the list in a decade's time. This report was prepared prior to the UK Budget on 21st March 2012 when adverse tax measures, uncertain in detailed scope, were announced; and it remains to be seen whether London can continue to be a favoured place. This article covers the main changes.

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Taxation

EU Parliament in favor of common corporate tax base


On April 19, 2012, the members of the European Parliament voted in favor of the compulsory introduction of a common corporate tax base with a clear majority of 452 against 172 votes at first reading of the consultation procedure. With this decision, the Parliament goes beyond the draft legislation of the European Commission, which only provides for a voluntary system.

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