04/12/2021
New York is raising taxes for millionaires. Will other states follow?
The plan also includes more relief for those hit hardest by the coronavirus pandemic such as renters, small businesses, and undocumented immigrants.
Tax
04/12/2021
New Tax Transparency Rules for Digital Platforms introduced by DAC 7
The overall aim of this Directive is to improve administrative cooperation in the field of taxation and address the challenges posed by the digital platform economy.
04/12/2021
Cryptocurrency users beware: IRS targets unknown taxpayers via John Doe summons
The summons require the crypto exchanger to produce records identifying all such taxpayers falling above this US$20,000 threshold, along with any documentation related to their cryptocurrency transactions.
04/08/2021
US gift and estate tax legislative proposals
The proposals would change the gift and estate tax exemption amounts and rates and meaningfully impact trust planning.
04/07/2021
Luxembourg lists of CRS Participating and Reportable Jurisdictions
Such agreement will either be in the form of the OECD’s Multilateral Competent Authorities Agreement (MCAA) or another type of exchange of information agreement such as a Tax Information Exchange Agreement (TIEA).
04/07/2021
Cyprus releases its 2021 lists of CRS Reportable and Participating Jurisdictions
Reportable Jurisdictions are those participating jurisdictions with an agreement in place to exchange relevant CRS account information with Cyprus.
04/06/2021
Buffet of tax-evading secrecy revealed by US settlement with Swiss bank Rahn+Bodmer
This is a global ranking of the countries most complicit in helping wealthy individuals hide their wealth from the rule of law
03/31/2021
Non-fungible tokens: at the UK legal and tax frontier
Is this just another bubble waiting to burst or is it the sign of an important shift in attitude towards the digital world?
03/29/2021
Real Property Tax Forgiveness Program
The purpose of this Program is to provide much needed relief to families and business owners adversely impacted by the economic effects of the COVID-19 pandemic
03/29/2021
The shocking ways billionaires, highly profitable companies hide their money
With average condominiums selling for over $4 million, Millennium Tower is not only a wealthy residence for the rich, but also a ‘wealth storage unit’ for global capital looking to park itself and hold value.
03/26/2021
Hong Kong Private Equity awaits confirmation of carried interest tax concession
Yet one piece of the puzzle is still missing - the clarification on the treatment and taxation of carried interest.
03/12/2021
Crypto-assets and the OECD
The EU has also been taking an increasing interest in this area.
03/09/2021
New York Senate proposes new tax on auction sale of art
The tax would be imposed on the purchaser and collected by the auctioneer in addition to state and local sales tax.
03/09/2021
Withholding tax on royalties for German IP
Any royalty payable for Registered German IP is subject to German withholding tax
03/07/2021
Cyprus Tax authorities extend the imposition of penalties for late submission on DAC 6
The Tax Department will not begin imposing administrative fines until 30 June 2021