Category: Tax Authority

Business / Canada / Compliant / Controlled Foreign Companies / Corporate Tax / Insurance / Related party Transactions / Tax Authority / Transfer pricing

Canada: The Importance Of Tax Due Diligence When Buying A Business

Published by: Mondaq - July 8, 2022

Buying a business is rarely a straightforward decision. In order to get the most out of a potential deal, buyers need to be aware of key risks and pitfalls so they can incorporate mitigation strategies into their deal negotiations. The challenge for buyers is ensuring that no significant risks are missed when making their assessment. This can be difficult, particularly when buyers focus primarily on quality of earnings analyses or other non-financial and tax diligence reviews. ... - Continue reading

Business / Corporate Tax / Digital Services / Framework / G20 / Jurisdiction / OECD / Offshore / Offshore Tax Evasion / Revenue / Tax Authority / Tax competition / Tax Evasion / Tax treaties

What is the global minimum corporate tax?

Published by: Business Standard - June 13, 2022

The global minimum corporate tax on MNCs was aimed at discouraging them from shifting profits to low-tax countries. But it will reduce the incentives to attract investment in developing countries ... - Continue reading

Automatic Exchange of Information / Bilateral Agreement / Certification / FATCA / Financial Institutions / OECD / Private Equity Funds / Tax Authority / Tax Avoidance / Tax Evasion / Withholding Tax

Q&A: tax issues for private equity funds in Cayman Islands

Published by: Lexology - March 10, 2022

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

Business / HMRC / Income Tax / Tax Avoidance / Tax Deductions / Tax Evasion / Tax Fraud

Is Tax Avoidance A Crime In The Uk?

Published by: ICSTD - March 8, 2022

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

Activity / Capital gains / Capital Gains Tax / Common Reporting Standard / Directors / HMRC / Regulatory / Shares

UK: Tax Bites – June 2021

Published by: Mondaq - June 9, 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 reading

Activity / Business / Directors / Double Tax Treaty / Double Taxation / Individuals / Jurisdiction / OECD / Permanent establishment / Regulatory / Tax Authority / Tax Laws

COVID-19 and tax treaties: the updated OECD guidance

Published by: MNE Tax - January 27, 2021

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

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