Category: Tax Authority
Q&A: tax issues for private equity funds in Cayman Islands
Under current Cayman Islands law, there are no Cayman Islands taxes on income or gains of the private equity fund (PE fund) or on gains on dispositions of shares or partnership interests, and distributions made by a PE fund will not be subject to withholding tax in the Cayman Islands. ... - Continue reading
Is Tax Avoidance A Crime In The Uk?
There are financial and criminal penalties involved in tax evasion. Other instances can be civil or criminal. Generally speaking, HMRC deals with all types of fraud and evasion through civil processes. The severity of your tax evasion depends on how large a jail sentence you can expect, assuming you are charged with tax evasion. ... - Continue reading
UK: Tax Bites – June 2021
Further extension to UK Common Reporting Standard compliance rules
Regulations have been made to extend the International Tax Compliance Regulations 2015 (SI 2015/878) (the Compliance Regulations). The Compliance Regulations, among other things, require UK financial institutions to report information regarding certain non-UK account holders to HMRC for exchange under international arrangements relating to the Common Reporting Standard (CRS). ... - Continue readingHow to help clients as HMRC cracks down on overseas assets
‘International data sharing and anti-money laundering regulations are only likely to get tighter’ ... - Continue reading
Israeli tax circular addresses intercompany recharges from stock-based compensation
In 2018, the Israeli Supreme Court ruled that stock-based compensation must be added to the cost base for transfer pricing purposes. ... - Continue reading
Poland APA statistics reveal alarming trends
Poland’s National Tax Office has published statistics for its advance pricing agreement (APA) program, updated for 31 December 2020. ... - Continue reading
COVID-19 and tax treaties: the updated OECD guidance
The new situation has created questions about the application of the existing tax treaty rules. For example, new taxing rights over an employee’s income may arise in a jurisdiction if an employee changes work location because of the COVID-19 restrictions. ... - Continue reading
UK seeks feedback on proposed VAT changes that reflect digital platform “sharing economy”
The UK’s HM Treasury has requested public feedback on whether the VAT rules should be changed to account for the new “sharing economy,” facilitated by online digital platforms like Uber and Airbnb. Comments are requested by March 3, 2021. ... - Continue reading
