Category: Samsung
Will Samsung, Hyundai have to pay digital tax overseas?
Big changes ahead : Samsung Electronics, LG Electronics and other top-tier South Korean companies might have to pay corporate taxes even in countries where they have no physical presence. Here's how. ... - Continue reading
Corporations paid no tax at Rio Olympics
Coca-Cola, McDonald’s, Visa and the rest of the corporate sponsors of the August 5–21 Olympic Games in Rio de Janeiro won’t be paying any taxes on the money they earn due to a tax exemption law that is set to cost Brazil hundreds of millions of dollars. The exemption, which… – Continue reading
Follow Ireland’s Example on Corporate Tax to Stop Inversions
Ireland’s 12.5 percent corporate tax rate has encouraged several major U.S. companies like Medtronic, Pfizer, Johnson Controls, and Baxalta to move there in tax inversions in recent months, saving them billions of dollars of taxes and protecting themselves from international competition in the process. The U.S. corporate tax rate, on… – Continue reading
Head of Brazilian House of Representatives investigated for tax evasion
RIO DE JANEIRO, Oct. 28 (Xinhua) — Brazil’s Secretariat of Federal Revenue is carrying out an official investigation of Eduardo Cunha, head of House of Representatives, for tax evasion and other fiscal crimes, local daily O Globo said on Wednesday. Started in August, the investigation was based on information which… – Continue reading
S. Korean biz groups have 237 firms in tax havens
SEOUL, June 25 (Yonhap) — More than half of big business groups in South Korea have set up companies in overseas tax havens, with SK Group, the nation’s third-largest conglomerate, having the most, data showed Thursday. Out of 61 business groups with combined assets of more than 5 trillion won… – Continue reading
Applied Materials and Tokyo Electron Call Off $10 Billion Merger
TOKYO — Two of the world’s largest manufacturers of the machinery used to produce semiconductors, Applied Materials of the United States and Tokyo Electron of Japan, on Monday dropped plans to merge after the Department of Justice said that combining their businesses would restrict competition. The proposed $10 billion deal… – Continue reading
European Union: European M+A News, Spring 2015
EUROPEAN M&A DOS AND DON’TS FOR NON-EUROPEAN BUYERS Inbound M&A in Europe by non-European buyers increased in 2014 by 68.6% compared to 2013, representing over a third of USD 901.4 billion total European M&A.1 For non-European buyers the basic framework of transactions may be similar, but there are a number… – Continue reading
Google, Apple tax crackdown will fail without US support
Jurisdictional issues will limit success. It’s no secret that companies including Apple, Google and Amazon, seem to pay less than their fair share of tax in Australia. Despite booking huge revenues from sales to Australian customers they are able to reduce their profits in this country by shifting profits to… – Continue reading
Adjudication forwards Q-Mobile tax evasion case to Preventive Karachi
KARACHI: The Pakistan Customs adjudication has forwarded the Q-Mobile tax evasion case to the Model Customs Collectorate (MCC) Preventive, Karachi for seeking legal and technical reference from the Federal Board of Revenue (FBR). The adjudication department, during the hearing, has completely redundant the view point of MCC-Multan, because as per… – Continue reading
Samsung to open TV plant in KZN’s Dube Tax Haven
Samsung Electronics has put an end to months of industry speculation by making a formal announcement that it will indeed be opening a manufacturing plant in Durban’s Dube Trade Port, at which it will make televisions for the local consumer market. The company has committed to a total investment totalling… – Continue reading
