Frankfurt, Germany

COVID-19 and Its Effects on Transfer Prices of Routine Companies

By Oliver Biernat, Benefitax GmbH

COVID-19 currently has a massive impact on our lives and our economy. Many companies experience declining sales and profits, some industries even struggle to survive. Therefore, in internationally operating groups the question arises as to how the unplanned fluctuations in operating results can be adequately taken into account and documented in transfer prices.

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Port Louis, Mauritius

Termination of DTA between Zambia & Mauritius

By Graeme Saggers, Nolands

The Zambian Government announced the termination of the Double Taxation Agreement (“DTA”) between the Government of the Republic of Zambia and the Government of the Republic of Mauritius on the 22nd of June 2020 by way of a written notice of termination given to Mauritius.

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ECJ Decision “Aures Holdings”

By Brigitte Jakoby, Jakoby Dr Baumhof – Wirtschaftsprüfer Steuerberater Rechtsanwälte

In the matter “Aures Holdings” (AH), the European Court of Justice (ECJ) had to evaluate whether the transfer of the administrative seat of a company from one Member State to another could involve the transfer of losses between Member States. AH is a company incorporated under the Netherland’s law, whose registered seat and place of effective management were originally located in the Netherlands. AH was a tax resident of the Netherlands (unlimited tax liability) and incurred a loss of EUR 2,792,187.00 in the financial year 2007. On 01 January 2008, AH initially set up a permanent establishment in the Czech Republic and on 01 January 2009 transferred its place of effective management to the address of the permanent establishment. In this context, AH also transferred its tax residence to the Czech Republic and applied to the Czech tax authorities for the deduction of the loss which had been incurred in the Netherlands until 2007.

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Moscow, Russia

Russia: Tax Control Trends

By Irina Orlova-Panina, Nektorov, Saveliev & Partners

Russian tax authorities started to apply rules introduced in 2017 that establish the limits by which taxpayers can reduce their tax base. Now more efforts should be made by taxpayers to prove the “good faith” of their counterparties and business substance of the transactions. Taxpayers should proactively mitigate tax risks for previous and future tax periods.

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Moscow City International Business Center in Russia

Latest Developments on Beneficial Ownership in Russia

By Valeria Khmelevskaya, KBK Accounting

One of the major conditions currently necessary in Russia for application of the incentives provided by double taxation treaties (DTT) is the “actual right of the company to the income” obtained from the sources in Russia. This is the statutory naming for a beneficial ownership concept (BO) in Russia, which continues to develop and evolve after introduction into legislation in 2015.

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Chicago, USA

Tax Planning Spotlight: Qualified Small Business Stock

By Robert Jacobson, Kutchins, Robbins & Diamond, Ltd. (KRD)

Foreign nationals looking to start a business in the US often find that operating as a C Corporation is most desirable. One of the benefits of becoming a C Corporation is that they can issue Qualified Small Business Stock (QSBC). A QSBC is a US C Corporation that, upon sale, can have a 100% Federal capital gain exclusion for both regular and alternative minimum tax purposes.

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