Category: Dissolution

Many tax-exempt charities don’t meet IRS requirements

Even though the Internal Revenue Service approves 94 percent of the applications it receives from charities for tax-exempt status filed through the simplified Form 1023-EZ, approximately a quarter of them do not meet the IRS’s own requirements. A recent report by the National Taxpayer Advocate pointed out that Treasury Department… – Continue reading

Time running out to respond to HMRC’s latest proposals on company distribution anti-avoidance rules

Two weeks remain to influence draft legislation which reduces the ability for individuals to convert income distributions from a company into capital gains by way of winding-up that company, an expert has warned.19 Jan 2016. Proposals amending the Transactions in Securities (TIS) rules were published by HMRC on 9 December… – Continue reading

Countering terrorism financing through anti-money laundering measures

It is time for re-regulation; Europe is strengthening its AML/CFT measures in order to lower current terrorist financing (TF) risks. “Money is the lifeblood of terrorist operations,” declared George Bush after the 9/11 attacks. French finance minister Michel Sapin has beaten the same drum when he recently claimed that “the… – Continue reading

France: French Tax Update – Amending Finance Bill For 2015 And Noteworthy Q4 Case Law

The present French Tax Update contains (i) an overview of the main provisions proposed by the draft amending finance bill for 2015 (loi de finances rectificative pour 2015, 2015 Draft Amending Finance Bill), (ii) an update of the parliamentary amendments adopted in respect of the draft finance bill for 2016… – Continue reading

Israel looks to join int’l anti-money laundering task force

A Financial Action Task Force (FATF) delegation visits Israel this week to consider Israel’s application for membership. “Israel is working tirelessly to upgrade its standing as a regional leader in the struggle against money laundering and financing of terrorism through persistent regulatory changes and a more effective regime. Up until… – Continue reading

Barbados: Its Systems Validated

During 2014, Barbados again produced strong evidence of the underlying strength of its financial system. All of the financial stability indicators and stress tests performed for the financial system strongly indicate that the system remains stable with the capacity to withstand a wide variety of severe economic shocks. It is… – Continue reading

Payment of Annual Fees (€350) in relation to Voluntary Liquidations (Winding up’s) and Compulsory Liquidations

The Bankruptcies and Liquidations Section announces that, with accordance to the Companies (Amendment) (No. 2) Act 2011, it will not receive the documents for Voluntary Liquidation, unless they are accompanied by a proof of payment of the Annual Fee of the amount of €350 – for all the pending years,… – Continue reading