06/25/2021
Germany: MOF publishes draft decree on tax treatment of virtual currencies and tokens
The draft decree provides some initial insights on how the tax authorities consider transactions involving virtual currencies and tokens.
Tax
06/24/2021
One Small Step but (Perhaps) One Giant Leap for Global Tax Reform: The G7 Agrees on a Broad Framework for Pillar One and Two
As discussed below, there is still much work to do to flesh out the details of the framework
06/23/2021
What US and international taxpayers need to know about Biden’s tax policy proposal (Green Book)
This note is intended to be a quick overview of the Green Book focusing on its impact on private clients. It is not an exhaustive analysis of all provisions of the Green Book.
06/23/2021
Bermuda warned over sovereignty rights on tax haven status
"Bermuda has a right to determine for itself what it thinks is an appropriate tax system for its jurisdiction," he said.
06/16/2021
Proposed new UK residential property developer tax
The government has not yet set a rate for the tax
06/14/2021
Season and Sweat? The IRS Adds Offshore Credit Funds to Their Active Audit Campaign
This change in audit posture may also serve as a catalyst for reviewing loan acquisition activities conducted in prior years.
06/14/2021
The Office of Tax Simplification publishes second report on simplifying Capital Gains Tax
The OTS has suggested significant CGT reforms across a wide range of areas, including moving home, getting divorced, and running or investing in a business
06/10/2021
New U.S. capital gains tax proposals for gifts, inheritances and trusts
These new capital gains taxes would be in addition to those generally applicable under the existing gift and estate tax regime.
06/08/2021
G7 Pact on Tax – What does it mean?
The proposals aimed to apportion taxing rights more evenly between countries and discourage profit shifting.
06/07/2021
Global Accountants’ Liability Update – May 2021
Court of Appeal rules in favor of accounting firm in breach of contract claim
06/04/2021
US To Tighten Monitoring Of Foreign Crypto Investors In Concerns Over Tax Evasion
The proposal comes as more and more global concern is voiced over the possible tax gap between taxes owed and the taxes that are being paid on time.
05/31/2021
Belgium - EU judges oblige Tax Authorities to apply anti-abuse provisions
This decision was based on an assessment by the Commission of the aforementioned transactions under the criteria for the relevant anti-abuse provision, as laid down in case law.
05/30/2021
Opinion on interpretation and implementation of MLI approved
The principles were drawn from public international law, the design of the MLI, and the MLI’s drafting history.
05/28/2021
New developments in Italian taxation of image rights
The Italian tax authorities were asked by an Italian film maker (company) whether the remuneration paid to a Spanish resident actress for her performances carried out in Italy were subject to Italian income tax (through the standard 30% final withholding
05/27/2021
Ireland introduces higher stamp duty rate for bulk housing buys
The charge is a rise from the stamp duty normally charged on residential property in Ireland, which is 1% of a property value up to €1 million, and 2% on the balance of any higher value.
05/24/2021
Review of UK R&D tax credits system begins
The government has set itself the target of raising total investment in research and development (R&D) to 2.4% of UK GDP by 2027.
05/17/2021
Tax residency – changes in the wind
The first proposed test is a 183 day test. A taxpayer will be a tax resident of Australia if they spend 183 days or more in Australia in an income year.
05/12/2021
Preparing for the Unknown: What a Capital Gains Rate Hike Could Mean
Taxpayers in this category will fall into two groups.
05/10/2021
Costs Risk in Appeals from the Irish Tax Appeals Commission
A recent High Court judgment considered the question of costs awards in these cases stated.
05/07/2021
The hacker, the tax haven, and what $200 million in offshore deposits can tell us about the fight against illicit wealth
In the past decade many governments have made a lot of progress in getting archetypal havens to start sharing information on the owners of offshore wealth.