About David Brimmer

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So far David Brimmer has created 187 blog entries.

Mauritius: 50 years of Independence this year

April 23rd, 2018|Categories: Newsletters, Tax|

Mauritius having attained its independence on 12 March 1968, has celebrated it’s 50 years of Independence this year. The Golden [...]

Creatrust Securitisation Platform

April 20th, 2018|Categories: Newsletters, Tax|

Promoters or Issuers use securitisation vehicles as an alternative to traditional bank funding, to transfer risk or deconsolidate risk off [...]

US Expatriates Living Abroad – What You Should Know About the New Tax Law – Part I

April 16th, 2018|Categories: Newsletters, Tax|

The Tax Cuts and Jobs Act 2017 (TCJA) changed many things, including reporting and taxing requirements for US taxpayers living abroad. [...]

Hong Kong continues to expand its tax treaty network – New double taxation agreement with India

April 13th, 2018|Categories: Newsletters, Tax|

Hong Kong has recently signed a comprehensive double taxation agreement (CDTA) with India. This brings the number of CDTAs Hong [...]

India: Professional updates for April 2018

April 11th, 2018|Categories: Newsletters, Tax|

CBIC clarified that LUT shall be deemed to be accepted on Generation of ARN, No documents required to be physically [...]

Why it is important to reconcile your tax balance regularly

April 7th, 2018|Categories: Newsletters, Tax|

In this month’s write up, we will highlight the importance of reconciling your taxes with the revenue authority in PNG [...]

$1 Billion in Refunds Still Unclaimed from 2014 Returns

April 3rd, 2018|Categories: Newsletters, Tax|Tags: |

Under Internal Revenue Code Section 6511(a)Period of Limitation on Filing Claim.— a claim for refund or credit must be filed [...]

New IP Box Regime in Luxembourg – 5,2% effective tax rate – BEPS compliant.

March 29th, 2018|Categories: AITC, Tax|Tags: , |

Luxembourg is known for its favorable intellectual property regime. Its legislation is also one of the main reasons why foreign [...]

India: Tax & Professional updates For March 2018

March 25th, 2018|Categories: AITC, Tax|Tags: , |

RBI had discontinued the Letter of Undertaking (LOU) & Letter of Comfort (LOC) for trade credit for import into India [...]

A comparison of Cyprus and BVI corporate structures in the light of recent global tax reforms.

March 23rd, 2018|Categories: AITC, Tax|Tags: , |

The recent revelations in the Panama and Paradise Papers illustrated the need for companies to make a shift towards more [...]

Interest on Home Equity Loans Often Still Deductible Under New Law

March 21st, 2018|Categories: AITC, Tax|Tags: , |

WASHINGTON - The Internal Revenue Service today advised taxpayers that in many cases they can continue to deduct interest paid [...]

Austrian premium for research and development has been increased to 14% as of January 1, 2018

March 19th, 2018|Categories: AITC, Tax|Tags: , |

In Austria, companies that carry out research and development are financially supported by the state. They may claim a research [...]

1st Taxpayer Victory in a “Willful” FBAR Penalty Case!

March 14th, 2018|Categories: AITC, Tax|Tags: , |

On September 20, 2017, the Eastern District of Pennsylvania issued an important taxpayer friendly opinion regarding the "willfulness" standard in [...]

Hong Kong uses massive fiscal surplus to spur innovation and alleviate taxes

March 11th, 2018|Categories: AITC, Tax|Tags: , |

Hong Kong recently announced record-breaking fiscal surplus of 138 billion HKD from the 2017-18 fiscal year. This is mostly thanks [...]

New chairperson for the National Council of Tax Advisors

March 8th, 2018|Categories: AITC, Tax|Tags: |

On the weekend of 12th-14th of January 2018, the Fifth National Convention of Tax Advisors was held in Warsaw. A [...]

Are you getting your GST Refunds on time?

March 3rd, 2018|Categories: AITC, Tax|Tags: , |

This write up highlights the GST Refund process followed in Papua New Guinea (PNG) and is useful for all business, [...]

Initial Coin Offering – BlockChain – Bitcoin Funds

February 21st, 2018|Categories: AITC, Tax|Tags: |

The SLP can be used to setup up a Bitcoin Fund as an Unregulated Alternative Investment Fund An ICO (Initial [...]

Foreign LPs Investing in Australia

February 18th, 2018|Categories: AITC, Tax|Tags: |

There has been a heartening development in the long running uncertainly about the access to treaty benefits for partners in [...]

IRS to Begin Revoking US Passports of Delinquent Taxpayers in 2018!

February 17th, 2018|Categories: AITC, Tax|Tags: |

Starting this month, the IRS will start implementing new procedures required under a 2015 law to crack down on individuals [...]

Two-tiered Profits Tax Rates Regime in Hong Kong

February 15th, 2018|Categories: AITC, Tax|Tags: |

A two-tiered profits tax rates regime was proposed by the Hong Kong Government during the last quarter of 2017 and [...]

Cyprus VAT on Land – Updates by the Tax Department

February 14th, 2018|Categories: AITC, Tax|Tags: |

In November 2017, the Cyprus parliament voted an important amendment to the Cyprus VAT Legislation, which amends the main VAT [...]

IRS Urges Travelers Requiring Passports to Pay Their Back Taxes or Enter into Payment Agreements; People Owing $51,000 or More Covered

February 8th, 2018|Categories: AITC, Tax|Tags: |

On January 16, 2018 the IRS further warned that Travelers Requiring Passports to Pay Their Back Taxes or Enter into [...]

Turkey: 5% of income tax and corporate tax rate deduction would be applied as of 1 January 2018 under certain conditions.

February 2nd, 2018|Categories: AITC, Tax|Tags: |

The General Communiqué No: 301 on Income Tax was published in the Official Gazette dated December 23, 2017 and numbered [...]

Papua New Guinea Key Compliance Dates for 2018

January 24th, 2018|Categories: Tax|Tags: |

Shishya, a consulting firm specialising in servicing Asia Pacific markets, has kindly provided the Papua New Guinea Key Compliance Dates [...]

Argentina enacts integral Tax Reform introducing significant changes in decades

January 23rd, 2018|Categories: Tax|Tags: |

Argentina enacted an integral tax reform through Law 27.430 (published on the Official Gazette on December 29th 2017), which became [...]

Register of Beneficial Owners in Malta

January 20th, 2018|Categories: Tax|Tags: |

On the 26th December by virtue of Legal Notice 374 of 2017 as of the 1st January 2018 the Registrar [...]

Minimum salaries for foreign workers rise 33 percent in Romania

January 18th, 2018|Categories: Tax|Tags: |

Romanian authorities have increased minimum salary levels for foreign employees by 33 percent as the country prepares for a new [...]

China Withholding Tax Deferral Policy for Foreign Direct Reinvestment

January 14th, 2018|Categories: Tax|Tags: |

Dividends derived from China by a foreign investor are currently subject to China Enterprise Income Tax in the form of [...]

Double tax treaty for between Cyprus and Saudi Arabia

January 10th, 2018|Categories: Tax|Tags: |

The Cyprus Ministry of Finance has announced that Cyprus has entered into a double tax agreement with Saudi Arabia for [...]

What the tax reform bill means for individuals

January 7th, 2018|Categories: Tax|Tags: |

Passive H.R. 1, known as the Tax Cuts and Jobs Act, which both houses of Congress passed on Dec. 20, [...]

US 2018 Tax Reform -What You Need To Know?

December 20th, 2017|Categories: Newsletters|Tags: |

The House passed the final version of the Republican tax bill on Wednesday December 20, 2017, capping off a furious [...]

Main amendments on Romanian Fiscal Code

December 18th, 2017|Categories: Newsletters|Tags: |

Below are the main amendments on Romanian Fiscal Code, to enter into force starting with January 2018. Corporate income tax [...]

Recent UK personal tax developments and news

December 15th, 2017|Categories: Newsletters|Tags: |

Scottish income tax Scotland’s draft Budget for 2018/19 has now been released and details of the proposed Scottish tax changes [...]

Wake-up Call for Common Australian Discretionary Trust Arrangements

December 13th, 2017|Categories: Newsletters|Tags: |

Discretionary trusts are extremely common in Australia, both for the holding of assets, and from an international perspective, more unusually, [...]

VAT on Land: Important Amendment to the VAT Legislation

December 11th, 2017|Categories: Newsletters|Tags: |

In November 2017, the Cyprus parliament voted a significant amendment to the Cyprus VAT Legislation (VAT Law – Amending Law [...]

Revised FTP 2015 – India

December 8th, 2017|Categories: Newsletters|Tags: |

Revised FTP 2015 – 20 has been amended in such a way that it is in line with the provisions [...]

2018 PNG Budget Commentary from Shishya

December 6th, 2017|Categories: Newsletters|Tags: |

Executive summary below: The Deputy Prime Minister and Minister for Treasury, Hon. Charles Abel handed over the 2018 Budget on [...]

Certain changes on China withholding tax obligations for non-residents

December 4th, 2017|Categories: Newsletters|Tags: |

Passive incomes such as dividends, interests, royalties, capital gains derived from China by a non-Chinese tax resident enterprise (“NRE”) are [...]

Changes to the Malta Residence and Visa Programme

November 21st, 2017|Categories: Newsletters|Tags: |

The Malta Residence and Visa Programme (MRVP) provides an excellent opportunity to non-EU Nationals, non-EEA Nationals and non-Swiss Nationals including [...]

Tax Amnesty Scheme and New Tax Clearance Process in Papua New Guinea (PNG)

November 17th, 2017|Categories: Newsletters|Tags: |

TAX AMNESTY SCHEME The Commissioner General of Internal Revenue Commission(IRC) has notified a temporary relief to businesses in PNG. Who [...]