01/13/2023
VAT: changes in processing option to tax forms
From February 2023, HMRC will only issue an automated acknowledgement of receipt of a notification of an option to tax sent by email.
Tax
01/12/2023
Tax analysis advised in Luxembourg after Budget law passed
The changes affect Luxembourg tax transparent entities operating in Luxembourg with foreign shareholders where those shareholders hold at least 50% of voting rights or capital in the Luxembourg entity or hold entitlements to at least 50% of its profits.
01/11/2023
UK corporation tax group relief
It does not look at capital losses, which are subject to different rules.
01/06/2023
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.
01/03/2023
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.
12/15/2022
Dentons Eric Silwamba, Jalasi & Linyama provide an article on Corporate Tax to International Comparative Legal Guide
Corporate Tax 2023 Publication
12/15/2022
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.
12/15/2022
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.
12/14/2022
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.
12/06/2022
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.
12/05/2022
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.
11/18/2022
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.
11/17/2022
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.
11/02/2022
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.
11/01/2022
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’.
10/20/2022
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.
10/20/2022
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
10/17/2022
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.
10/17/2022
Two lawyers featured in Spear's Tax & Offshore Index
The list showcases the top providers of a wide range of services to UHNWs
10/12/2022
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.