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, [...]

Double Tax Treaties – Malta

March 7th, 2017|Categories: Tax|Tags: |

Throughout the years Malta has succeeded to conclude a number of double tax treaties with important trading partners as well [...]

Switzerland: DTT with UAE Signed

November 3rd, 2011|Categories: Tax|Tags: , |

Switzerland and the United Arab Emirates have recently signed in Dubai a double taxation treaty (DTT) containing provisions on the [...]

Aitc 2011 annual conference a success

September 1st, 2011|Categories: AITC|Tags: , , |

Delegates from member countries have gathered this year in Zurich from Septemeber 1st to 4th, to mark an important anniversary [...]