Category: Insurance

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

Capital Gains Tax / Corporation Tax / Double Tax Treaty / Exemptions / Incorporation / Insurance / Offshore Investments / Tax Haven / Tax Relief

How much capital gains tax you pay in Portugal?

Published by: PORTUGAL resident - March 6, 2022

Like many countries, Portugal imposes a capital gains tax on the sale of assets. It only applies to gains made on real estate and investments; personal items are not taxable and inheritances are only subject to a limited form of stamp duty. Your exposure will depend on whether you are resident, how you own the asset and, with property, whether it is your main home. ... - Continue reading

Insurance / Internal Revenue Service (IRS) / Tax Avoidance / Tax Deductions / Tax Planning

IRS cracking down on abuses of microcaptive insurance

Posted On: September 26, 2017

Forming a small insurance company known as a microcaptive can be a great way for small businesses to reduce insurance costs and realize tax savings. Abusive microcaptive arrangements, however, have attracted scrutiny from Congress and the IRS. Last month, the Tax Court decided an important microcaptive case, holding against the… – Continue reading

Insurance / Internal Revenue Service (IRS) / Legislation / Tax Avoidance / Tax Evasion / Tax Laws / USA

IRS Warns On Micro-Captive Insurance Tax Shelters

Posted On: February 15, 2017

For the third consecutive year, the US Internal Revenue Service (IRS) has placed abusive micro-captive insurance tax shelters on its list of top tax scams to watch out for in the 2017 filing season. The IRS explained that the US tax code generally allows businesses to create captive insurance companies… – Continue reading

Automatic Exchange of Information / Banking / Business / Common Reporting Standard / Europe / FATCA / G20 / Insurance / OECD / Regulatory / Tax Evasion

Invoke Launches a CRS/AEoI Reporting Solution to Add to its Tax and Regulatory Software Suite

Posted On: January 26, 2017

A European leader in financial, tax and regulatory reporting for the banking and insurance sectors, Invoke is expanding its software range to meet CRS/AEoI cross-country tax reporting requirements. As part of the global fight against tax evasion, the G20 and OECD program for the exchange of tax payers’ financial information… – Continue reading

Automatic Exchange of Information / Banking / Common Reporting Standard / Insurance / Investments / Offshore Accounts / Residency / Singapore / Tax Authority

Singapore-based FIs must establish tax residency status of account holders: IRAS

Posted On: January 6, 2017

SINGAPORE: Under the Common Reporting Standard (CRS) which has been in effect since Jan 1, Singapore-based Financial Institutions (FIs) are now required to establish the tax residency status of all their account holders, the Inland Revenue Authority of Singapore (IRAS) said on Friday (Jan 6). The CRS is an internationally… – Continue reading

Business / Directors / Employment / HMRC / Industrial / Insurance / Legislation / Regulatory / Revenue / Tax Arrangement / Tax Avoidance / Tax Break / United Kingdom / VAT

Labour and unions demand action on temp agencies’ tax avoidance

Posted On: November 16, 2016

Opposition vows to shut down scheme that uses ‘contrived’ financial arrangements to slash national insurance bills Labour and trade unions have called on the government to take action after a Guardian investigation found that an aggressive tax avoidance scheme used by temporary recruitment agencies is depriving the taxpayer of “hundreds… – Continue reading

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