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Luxembourg: new VAT rules on directors' fees

To address these two core questions concerning the VAT Directive's interpretation, the CJEU provided the following reasoning.

Balancing certainty and ambiguity – The Revamped Tax Treatment of Disposal Gains in Hong Kong

Hong Kong generally adopts a territorial principle of taxation, i.e. profits tax is only chargeable on Hong Kong-sourced profits derived by a person carrying on a trade, profession or business in Hong Kong.

UK tax update October 2023

In this article for the October edition of French estate planning journal Ingénierie Patrimoniale, Edward Reed, George Mitkov and Quentin Oyon look at recent developments in the UK.

Why California life is worth the taxes – at least for many

For Michelle, at least, the lifestyle is second to none. “It is hard to beat living in a city where you can enjoy outdoor activities year-round,” she says.

VAT treatment of UK termination and compensation payments

In January 2021, following intense lobbying from businesses and advisers, HMRC partially retracted Brief 12/20

Necessary and impactful changes to the Irish Employment Investment Incentive Scheme (EIIS)

The scheme aims to encourage individuals to provide equity based finance to Irish companies.

Edward Renn talks upcoming tax changes with Accounting Today

As the final days of 2023 draw near, it appears increasingly unlikely that Congress will have the capacity to pass any year-end tax legislation.

Autumn Statement 2023: life sciences businesses to benefit from R&D tax changes

An enhanced 27% tax credit will be available to small or medium enterprises (SMEs) that spend 30% of total expenditure on qualifying R&D.

VAT on UK commercial property transactions

VAT is often recoverable for businesses

Can Double Tax Treaties Take a 'Bite' Out of the US Net Investment Income Tax?

The court's dicta also seems to open the door for using the Three Bite Rule to advance other varieties of freestanding treaty-based foreign tax credit arguments.

Offshore non-compliance and HMRC's Worldwide Disclosure Facility – Traps for the unwary

This effort has been carried out in conjunction with an increase of direct requests to foreign tax authorities with respect to the affairs of UK tax residents, again significantly up as against the previous year.

British Virgin Islands Removed from EU Tax Blacklist

HMRC updates guidance on governance of UK tax disputes

The recent updates to the guidance represent a fairly substantial reorganisation of the locations of the parts of the guidance

HMRC collects £70m from multinationals via profit diversion compliance facility

The UK’s tax regime prevents this by applying the amount of profit or loss that would have been made between unconnected parties for tax purposes.

Plastic packaging imports fall in first year of UK tax

The tax is calculated on a fixed amount per tonne.

Maples Group's International Tax Teams Recognised for Excellence by International Tax Review

This achievement highlights the firm's expertise and focus on providing high-quality, multi-jurisdictional tax advice and transactional support to clients.

Bermuda Considers Introducing Corporate Income Tax on Multi-National Enterprises

Bermuda’s proposed corporate income tax on MNEs signifies a transformative moment in its tax policy.

Government of Bermuda Consulting on Possible Introduction of Corporate Income Tax

Taxes paid under the proposed Bermuda corporate income tax regime would be those that would otherwise be payable to other jurisdictions under the OECD global minimum tax framework.

VAT insights - August 2023

A round up of the Simmons & Simmons insights on VAT developments over the last month.

More holistic incentives and regulatory clarity needed in HK’s family office push

Helen points out that it is often the personal factors such as how easy it is to get visas for the family and the pathway to obtain permanent residency that “move the needle” for family offices.