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UK corporation tax group relief

It does not look at capital losses, which are subject to different rules.

Corporate Alternative Minimum Tax: US Treasury, IRS Release Interim Guidance

Even though several important questions remain unanswered, the Notice provides welcome guidance on many critical issues as taxpayers evaluate the impact of the CAMT on their financial reporting and estimated tax payments for the first quarter of 2023.

New VAT penalty regimes

Under the new regime, if a person fails to make a VAT return on time, that person is liable to one late submission penalty point for the relevant group of returns.

Dentons Eric Silwamba, Jalasi & Linyama provide an article on Corporate Tax to International Comparative Legal Guide

Corporate Tax 2023 Publication

UK tax deductions not available on costs associated with disposal of a business

This decision upheld part of an earlier Upper Tribunal (UT) decision, which also concluded that the expenses were expenses of management, but overturned the UT’s conclusion that the expenses were not of a capital nature.

Important changes planned for Italy's real estate tax framework

Capital gains resulting from the disposal of companies or other entities, wherever they are located, which hold Italian property may become taxable in Italy.

UAE’s corporate tax exemption for investment funds ‘a welcome relief’

This will include UAE companies that are incorporated or managed and controlled in the UAE, as well as some entities in free zones.

Lower VAT rates to apply in Luxembourg in 2023

The changes were ratified by the Council of State last month and will take effect from 1 January 2023 until 31 December 2023.

HMRC taxpayer information notices

HMRC is not required to make an informal request prior to issuing a Schedule 36 notice, so in some circumstances, HMRC may consider it more appropriate to simply issue a Schedule 36 notice straight away.

Autumn Statement: tax reform must align with UK’s net zero agenda, say experts

In a report earlier this year, the Climate Change Committee urged the government to undertake a net zero tax review to establish how the tax system can best support the transition to net zero.

UK adopts further international exchange of information on tax matters

The UK has signed up to two new multi-lateral competent authority agreements (MCAA) for the automatic exchange of information about two different categories of international activity.

Lack of evidence signals the failure of historic VAT claim

They concluded that NHS Lothian did not have sufficient evidence to support its ‘Fleming’ claim for under-recovered input tax.

Foreign gains to be subject to Hong Kong Profits Tax – a call for re-examination of investment holding structures

The new regime does not apply to foreign-sourced dividends and disposal gains if the receiving MNE entity satisfies the ‘economic substance requirement’.

Reversal on planned UK dividend tax cut a ‘blow to entrepreneurs’

But delivering a statement in the House of Commons, Hunt told MPs that he would “reverse almost all the tax measures” announced in the growth plan that had not yet been legislated for in parliament.

Snapshot: what are some tax consequences of debt funding for Luxembourg?

Recent international (ie at OECD level), regional (ie at the level of the European Union) and unilateral initiatives have been launched and implemented

Truss corporation tax U-turn will ‘get less attention in the board room’

The reversal of that proposal was so short lived that most businesses will not have had chance to adjust their investment plans in any event.

Two lawyers featured in Spear's Tax & Offshore Index

The list showcases the top providers of a wide range of services to UHNWs

International Tax Review recognizes Dentons among world's leading tax practices

Altogether, ITR granted Dentons 52 individual rankings, including five in the Women in Tax category, recognizing the Firm’s leading women lawyers.

Saffery Champness recognised as tier one Independent Trust Company

“Congratulations and thanks are due to all of our team whose hard work and commitment have been reflected in our ranking again this year.”

Did the Inflation Reduction Act Create a SPAC Tax?

This blog post highlights the potential application of the excise tax to SPACs.