Category: Miscellaneous

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

Canada / Canada Revenue Agency / Government Bodies / Related party Transactions / Transfer pricing

Canada: COVID-19 Just Made Transfer Pricing More Difficult

Published by: Mondaq - October 28, 2020

The COVID-19 pandemic has made the lives of hundreds of millions of people around the world uncertain, wreaking havoc on all aspects of our daily lives. Governments and taxing authorities are grappling with not only how to keep the broader macroeconomy viable over the short run, but also how to bring the economy back to fiscal balance in the medium and longer term. In an article published by the Gowling WLG Transfer Pricing & Competent Authority Group entitled "CRA Audit Activity: The Calm before the Storm?", it was hypothesized that the Canada Revenue Agency ("CRA") would likely step up audit activity, after the COVID-19 episode is finally behind us, to reign in government deficits. ... - Continue reading

Business / Jurisdiction / Multinationals / OECD / Philippines / Profit Shifting / Related party Transactions / Tax Collection / Transfer pricing

Enhanced transfer pricing regime amidst the pandemic

Posted On: August 31, 2020

Globally, the coronavirus disease 2019 (Covid-19) pandemic is requiring governments to design and implement strategies to cope with the deepening impact of the virus. They are introducing measures to cushion the blow from the economic downturn, such as drawing from reserves and intensifying tax collection efforts. As entire countries and… – Continue reading

Bangladesh / Budget / Double Taxation / Revenue / Tax Collection / VAT

VAT on online purchase must if not paid by cos during sourcing: NBR

Posted On: September 23, 2019

Value-added tax on online purchase of goods and services will be applicable if the e-commerce company concerned collects those from the original suppliers and manufacturers without paying VAT, according to the National Board of Revenue. ‘There will be no VAT on online purchase of any goods and services if the… – Continue reading

Budget / Investments / Pakistan / Tax Authority

Budget and taxation

Posted On: June 2, 2019

With the present outdated and corrupt tax system, FBR cannot collect taxes as per its real potential — even proposed target of Rs5500 billion for next fiscal year 2019-20 would be an uphill taskThe Pakistani state does not need any borrowing, if all the citizens, especially the rich, are taxed… – Continue reading

Budget / Capital gains / Capital Gains Tax / Commercial Property / Inheritance Tax / Investments / Offshore / Residential Property / Revenue / Tax Break / United Kingdom / Visa

Non-resident capital gains tax on UK commercial property ‘could block overseas investment’ – expert view

Posted On: May 13, 2019

The Government’s changes to the tax treatment of overseas investment in UK commercial property will increase revenues in the short term but might prove short-sighted, write Craig Hughes and Russell Dickie There is, as they say, no place like home. However, in recent years, solid and steady capital growth and… – Continue reading

Budget / Revenue / Tax Authority / Tax Evasion / Tax Reform / Tunisia

Tunisian Government Estimates Tax Evasion at USD8.3 Billion

Posted On: February 3, 2019

Prime Minister’s adviser in charge of tax reform Faisal Derbal has revealed that tax evasion is estimated to reach TND25 billion (around USD8.3 billion) in Tunisia. He denied, during a press conference in the government’s headquarters, rumors circulating about the tax evasion value rising to double of the mentioned number… – Continue reading

Anti money laundering / Beneficial Ownership / Budget / Jurisdiction / Property / Tax Fraud / Tax Haven / Tax Transparency / United Kingdom

Report: £250 billion fraud in UK tax havens greater sum than 20 years of foreign aid budget

Posted On: December 5, 2018

Russia most common place of origin for fraudsters using British overseas territories A NEW report has identified over £250 billion in fraudulent funds directed through UK tax havens, more than over 20 years of the UK Government’s foreign aid budget. The report, by Transparency International, examined the UK’s overseas territories,… – Continue reading

Austria / Budget / Double Tax Treaty / Gaar / HM Revenue & Customs / Income Tax / Japan / Legislation / New Zealand / OECD / Property / Residence / South Africa / United Kingdom

Worldwide: UK Tax Round Up – November 2018

Posted On: November 30, 2018

General UK Tax Developments Finance Bill The Finance (No 3) Bill 2018-19 (which will become the Finance Act 2019) was published on 7 November and includes legislation to enact the changes highlighted in our UK Budget blog post ( UK Budget Blog). Another key area covered by the Finance Bill… – Continue reading

Budget / Business / Foreign Direct Investment (FDI) / Investments / Transfer pricing / Vietnam

FDI policy shift aims to support domestic firms

Posted On: October 4, 2018

Viet Nam News HÀ NỘI —Vietnam will institute new policies designed to attract foreign direct investment (FDI) by boosting the development of local companies and setting up value chains driven by advanced technologies. FDI has been a major factor in Vietnam’s rapid socio-economic development; however, some key metrics remain below… – Continue reading

Bahamas / Budget / Business / Foreign Direct Investment (FDI) / Investments / Non-Domiciled / Property

Tax Hike ‘Shockwaves’ Hit High-End Properties

Posted On: July 30, 2018

Foreign investors were yesterday said to have halted construction projects, with some threatening to sell their high-end properties, as the “shockwaves” from Budget tax changes hit home. Robert Myers, the Organisation for Responsible Governance’s (ORG) principal, told Tribune Business that much of the Bahamas’ second home market “is dead” unless… – Continue reading

Budget / Business / EU / Legislation / Offshore / Tax Authority / Tax Avoidance / Tax Evasion

EU budget: Boosting cooperation between tax and customs authorities for a safer and more prosperous EU

Posted On: June 8, 2018

For the next long-term EU budget 2021-2027, the Commission is proposing measures to make tax and customs cooperation between Member States better and more efficient. Continued funding of these programmes will help the EU to progress in offering businesses unfettered and easy access to the EU’s Single Market so that… – Continue reading

Budget / Indiana / Internal Revenue Service (IRS) / Offshore / Revenue / Tax Avoidance / Tax Fraud / USA

Four years of monitoring have crushed tax fraud in Indiana

Posted On: April 23, 2018

Officials say fraudulent claims fell off quickly after new technologies took the state off attackers’ easy-target list. With tax season comes attempted fraud, as crooks use false identities to try to trick all levels of government into sending them refund checks. There are ways to fight back, though, and Indiana… – Continue reading

Banking / Budget / Marshall Islands / Offshore / Russia / Venezuela

Offshore Tax Haven Marshall Islands to Issue National Cryptocurrency

Posted On: March 1, 2018

A small island nation with less than 60,000 inhabitants best known internationally as a former test site for nuclear weapons is joining the hottest new trend – issuing a national cryptocurrency. The planned Marshall Islands’ Govcoin is expected to be issued later this year. Marshall Islands Govcoin ICO The Republic… – Continue reading

Follow:

Trending Now

Top 10 Sources