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Taxation Law Articles

Articles written by attorneys and experts worldwide
discussing legal aspects related to Taxation.

What Can A Tax Attorney Do For Me?

Of the professionals that you can turn to for help with IRS problems, tax attorneys can most effectively help you sort through legal issues. Hiring such an expert is the most efficient way of getting on the right track. Here are seven reasons that make them valuable and indispensable.

Ten Ways To Avoid Becoming a Guest of “Club Fed”

Contrary to popular belief, the IRS doesn’t want to throw you in jail. Criminal investigations consume a lot of resources, take time, and are expensive. For most taxpayers, a criminal investigation isn’t a first step, but rather the last step in a lengthy process to get you to resolve your tax debt. In other words, it’s rare that an agent will show up on your doorstep one day with cuffs in hand.

Understanding the PFIC Rules Without Suffering a Migraine

The PFIC regime was not introduced until 1986. Prior to 1986, U.S. taxation of foreign corporations was strictly tied to control of the corporation held by U.S. persons. This allowed not only the foreign mutual fund to avoid U.S. taxation, but also U.S. persons who invested in the fund. How so?

Lifting the Veil on the Civil FBAR Penalty

It should come as no surprise that the IRS has authority to assess FBAR civil penalties. However, what might come as a surprise is that an FBAR violation doesn’t automatically mean that a penalty will be asserted. Why not?

No Laughing Matter: The Criminal Consequences of Failing to Report Foreign Bank Accounts

United States citizens, residents and other persons must annually report their direct or indirect financial interest in, or signature authority over, a financial account that is maintained with a financial institution located in a foreign country if, for any calendar year, the aggregate value of all foreign accounts exceeded $ 10,000 at any time during the year.

Don't Get Snared in Any of the Three Stages of Money-Laundering

Law enforcement and financial regulators everywhere are on the lookout for money laundering. Big corporations and financial institutions hire compliance experts, and those experts cooperate fully rather than face huge fines and penalties.

Liens and Levies Make the IRS a Collection Agency on Steroids

Sometimes the problem with “food for thought” is that it can almost choke you with its stark simplicity. Take our tax system, for example. The federal government prints our money, regulates the places where we keep it and has vast powers to take it away from us if we don’t give them their cut.

Add the Letter ‘T’ to FATCA, and No One’s Getting Fat Except the IRS

In 2010 President Obama signed P.L. 111-147, the Hiring Incentives to Restore Employment Act. The purpose of the law is in its eponymous title, but the IRS got into the act with the Foreign Account Tax Compliance Act (FATCA) provisions.

A Primer on the Foreign Earned Income Exclusion

Ordinarily, the United States taxes U.S. citizens and resident aliens on their worldwide income, even when they live and work abroad for an extended period of time. To provide some relief, a U.S. citizen or resident who meets certain requirements can elect to exclude from U.S. taxation a limited amount of foreign earned income plus a housing cost amount. A double tax benefit is not allowed, however, and a taxpayer cannot claim a credit for foreign income taxes related to excluded income.

IRS Due Process Collections - Placing a Velvet Glove on the Wrecking Ball

Due process is, according to Black’s Law Dictionary, “a course of legal proceedings … which have been established … for the enforcement and protection of private rights.” Anyone facing an IRS federal tax lien or levy has already experienced the preliminary due process following the IRS determination that more taxes are owed.

Internet Enables Thieves to Steal $4 Billion in Tax Refunds

Criminals are utilizing their Internet connection to file false tax returns that help them steal refunds from the innocent. In 2013, fraudulent returns saw almost $4 billion sent into the hands of scam artists. Making things worse is the fact that the Internal Revenue Service is having a hard time stopping the fraud from happening in the first place.

Tariff Disputes in Turkey and Alternative Methods for Resolution

Customs duties can be examined within the scope of two types of taxes which are expenditure tax and excise (Indirect) tax. Customs duty can be described as an expenditure tax. Expenditure taxes are for the services and goods produced sold or consumed. Customs duties are type of excise (indirect) tax as well because taxpayers reflect custom duties to consumer by including the tax into the prices of the goods to be sold. Taxable event, time and who to bear are not certain.

European Commission Tightens Key EU Corporate Tax Rules

The European Commission has put forward certain amendments to key EU corporate tax legislation, in order to significantly reduce tax avoidance in Europe. The proposal will address deficiencies in the Parent-Subsidiary Directive, which may allow the operation of structures that will benefit from reduced taxation.

The Taxation Perspective in Liquidiation of Turkish Companies

As well as the company establishment, an investor may take decision for termination of his/her company or a company's termination conditions stated in the laws may occur such that start of a liquidation process becomes unavoidable for the company.

Fighting The Post-Bankruptcy Survival Of Federal Tax Liens On Property Excluded From The Bankruptcy Estate

The federal tax collection system is founded on the concept of voluntary compliance.[1] The United States government expects taxpayers to compute and timely pay all taxes owed. Most taxpayers fulfill this obligation. However, a minority refuse to comply. Those falling within the latter category are subject to forced collection and various penalties.

Obtaining a Residence Permit in Greece

Greek government instated a procedure to obtain permanent residence permits, which can be renewed every five years, for third-country citizens who own real estate in Greece of minimum value €250.000, adopting a friendlier stance towards those who wish to own real estate property in Greece.

The Greek Real Estate Market for Foreign Investors

Our practical guide to real estate in Greece covers the entire spectrum of legal and tax issues which arise in practice when purchasing, managing, utilizing, developing and reselling property in Greece. It is addressed to both Greek nationals and foreign citizens of other European and non-EU countries who have a practical interest in legal and tax matters in Greece, with the aim of facilitating entrepreneurship and more generally the access of foreigners to the Greek market.

Think You Got Game? Try Solving a Criminal Tax Problem

While reading can aid in learning, there is no substitute for doing. Reading about what steps should be taken to solve a tax problem is no different than reading about how to ride a bicycle. In the same way that the only way to learn how to ride a bicycle is by experiencing it firsthand – i.e., by physically getting on it (and perhaps falling off it more than once) – the only way to become proficient at solving tax problems is by trudging through a multitude of hypotheticals.

Income Tax Act, 1962 : Section 12L

As part of an initiative to become more energy efficient, the South African Government has decided to incentivise reductions in energy usage. Coming into operation on 1 November the recently introduced section 12L of the Income Tax Act, No 58 of 1962 (‘the Act’) provides for a tax deduction calculated by a set formula pertaining to the amount of energy saved for any person that is carrying on a trade during any year of assessment ending before 1 January 2020.

New Amendment to the Highly Qualified Persons Rules - Malta

Legal Notice 16 of 2014, has brought into effect amendments to the Highly Qualified Persons Rules, applicable retrospectively from year of assessment 2013.

More U.S. Taxpayers Admit to Secret Swiss Accounts

Why Swiss Bank Clients Who Can’t Stand the Heat Are Getting Out of the Kitchen.

Failing to File a Tax Return and that “Wascally” Little Word (not "Wabbit") Called Willfulness

Nary a day goes by that a client doesn’t ask me the question, “Why am I being charged criminally with failing to file my tax returns? Lots of people get behind on their taxes and fail to file their returns for a few years, but they are not prosecuted. Why me?”

Home Sweet Home for International Tax Collection

Recently, I received a panicked call from a client being detained at a major metropolitan airport. The client, a nonresident U.S. taxpayer, owed money to the Internal Revenue Service. Upon investigation, I learned who was responsible for detaining him: none other than the IRS. Under what authority? A two-year-old program designed to target nonresident delinquent taxpayers who travel to and from the United States.

Don’t Forget to Add the Salt When Cooking Up an IRS Voluntary Disclosure

New Jersey Notice of Federal Tax Change Requirements

Section 6050I – A Weapon In The IRS’s Criminal Arsenal

Congress enacted section 6050I to attack and unearth the underground economy. As enforced, however, section 6050I has been used as a weapon in the IRS’s criminal arsenal.

Long-term Investment Account - Hole in the Net

The purpose of the personal income tax is to make Hungarian tax residents liable to tax on all their personal income irrespective of where the income is sourced and in which form it is realized. The personal income tax laws, therefore, create a net around the individuals and any item of income can only get through the net if it has been taxed.

New Jersey Clamping Down on Tax Evasion Amongst Small Business Owners

The Internal Revenue Service takes great pleasure in auditing individuals who own their own small businesses. Why target these “moms and pops?” For the simple reason that they often deal in cash and keep two sets of books. Add in possible sales tax violations and before you know it auditors from the state revenue department have joined in the action.

Rescued From the Brink of Insanity: Practical Advice for Making the Decision to Opt Out of the OVDI - Part II

Hypotheticals demonstrating when opting out is detrimental to the taxpayer.

Rescued From the Brink of Insanity: Practical Advice for Making the Decision to Opt Out of the OVDI - Part I

Opting Out: The solution for the non-willful OVDI taxpayer? Hypotheticals demonstrating when opting out is in the best interests of the taxpayer.

Argentina: Tax Havens - Publication of the List of Cooperative Jurisdictions for Tax Transparency Purposes

The National Tax Authority (“AFIP”) published today in its “web” site the list of countries, jurisdictions, territories, states and special tax regimes which qualify as cooperative for tax transparency purposes (the “Cooperative Jurisdiction List”).

The Current Account Deficit and The Tax Increases in Turkey

The unprecedented level of economic growth in Turkey during the last decade have created an economy with a GDP person of USD$ 10.000, an inflation rate cut down below the double digits, a purchasing power more than quadrupled, capacity utilization ratio of 75.6%, a government budget deficit below the Maastricht criteria of 3% and a public debt to GDP reduced down to 36% of the GDP.

Tax Advantages in Turkey: R&D

In line with its high economic growth and its transformation in to an economic hub in its region, Turkey is recently investing alot to transform itself in to a center of high tech and R&D.

Tax Haven and Legislation in Turkey

I. INTRODUCTION Turkey has been trying to take the strong measures against tax havens and monies left to these countries, but the measures still seem not enough. In order to understand this, foreign investors’ tendency and applicability of Turkish laws should be examined.

A Tax Exempt Start up for Multinational Companies: Liasion Offices in Free Trade Zones of Turkey

Today, in global cash flow around the world made multinational companies to think more on tax benefits and cost effectiveness before they invest in a country.

On Transfer Pricing by Permanent Representative Offices of Non-resident Pharm Companies - Ukraine

The problem of taxation of permanent representative offices of non-residents (including multinational pharmaceutical companies) has recently gained considerable importance, not least of all due to the attempts on behalf of the tax authorities to make such permanent representative offices pay the taxes in Ukraine. Such attempts of the tax authorities have several times been backed up by the courts, thus the debate to define the “tax nature” of representative offices has become a pressing issue.

Don't Gamble With Gift Tax Returns

Beginning in 2011, the IRS started cracking down on taxpayers who did not file gift tax returns after making gifts that required reporting.

Think You Got Game? Try Being like Santa. How Imitating Santa Can Help You Save Taxes This Year

Paying tax is painful. But reading about it shouldn't be.

Immediate Tax Deducts for Accrued Property Transfer Taxes – Germany

Whether real estate is being acquired entirely new in the context of property acquisition or if it was already in the partnership’s possession is an important fact.

Italian Parliament Approves ‘Google Tax’ in 2014 Budget but the European Union Thinks It Is Illegal

  By Giambrone
Italy’s Parliament approved a controversial law on Friday forcing tech giants like Google to sell advertising online only through Italian intermediaries, provoking anger from digital economy experts.

Chinese Regulations for Investments in Germany

A rather detailed introduction of the legal aspects of outbound investment from China to foreign countries based upon the legal reality of China before 2012, which is undergoing further major changes in China at the moment.

Four End of the Year Ideas to Save Money on Your Taxes

  By HG.org
For millions of Americans, the holiday season is about giving and charity, and few stop to consider the state of their personal finances and taxes. But, the end of the year is also the end of a tax period for individuals, meaning that come December 31, they cannot make any more changes that will help reduce the taxes they will have to pay in a few months.

New Jersey Estate & Inheritance Tax: Reducing the Size of the Estate Through Gifting

New Jersey is one of only a few states that impose both an inheritance tax and a state estate tax. The inheritance tax applies when someone who lived in New Jersey, or owned property there, leaves property to someone who isn’t a close relative. The tax rate depends on how closely the inheritors and deceased person were related.

New Jersey Estate Tax: The Uninvited Guest

New Jersey collects both an inheritance tax and its own estate tax, separate from the federal estate tax.

Is There Any Tax Liability for Giving a Gift?

  By HG.org
Those who have dabbled with tax laws much at all are probably familiar with the general mantra that any money received may be taxable income. They may also be familiar with the idea that payments over a certain amount or in certain types of relationships (like employer/employee) often require that the payer ensure taxes are taken out before the balance is given to the payee. But what about gifts? Is there any tax liability for giving a gift?

Foreign Account Tax Compliance Act - Panama

In 2014, essentially all the financial institutions operating in Panama will be required to submit information to the United States (IRS) authorities, concerning “American citizen” in Panama.

How Does U.S. Law View Offshore Bank Accounts?

  By HG.org
Perhaps you are one of the fortunate few who has achieved a level of wealth where you are legitimately concerned that the ebb and flow of the U.S. economy could have a dramatic effect on your personal finances. Or, perhaps, you have heard that there are ways to avoid certain taxes if you keep your money offshore.

A Message from Uncle Sam to Taxpayers Who Have Undisclosed Foreign Bank Accounts: the Clock Is Ticking

OVDI: Is the IRS playing unfair? Read on...

Found Money – What Are My Legal Obligations?

  By HG.org
Everyone has seen a few cents on the ground, likely dropped while someone pulled a ring of keys from their pocket. While we would probably not think twice about picking up a penny, what if it was a bank envelope full of $100 bills? It may seem like a dream come true, but there are certain legal obligations when one finds misplaced money.

Can Foreigners Buy Real Estate in the United States?

  By HG.org
As the real estate market in the U.S. has made a strong indication of recovery, some outside of the United States have begun to look again at American real estate investments as a possibility. This leads some to wonder, though, whether it is even possible for a foreigner to buy real estate in the U.S.? If so, are there any special laws to be aware of or taxes that must be paid?

The Calm Before the Storm: Warning Signs that a Referral to Criminal Investigation is Looming

A criminal investigation conducted by the IRS is different from a civil investigation. Criminal investigation of taxpayer returns or fraudulent activity is conducted by the Criminal Investigation Division of the IRS (CI). CI is the heavy artillery of the IRS arsenal.

Eggshell Audits: Keeping the Shell of the Egg From Cracking When There are Criminal Tax Issues

In an “eggshell audit,” you must walk on eggshells to represent your client effectively in the civil examination without exposing the fraud, all the while honoring your duties to the tax system not to mislead the revenue agent.

To File or Not to File an Amended Return to Correct an Original Return That Has Criminal Tax Dimensions

Your client has filed a fraudulent return underreporting his tax liability. He now has misgivings. He comes to you and expresses great concern. What should you do?

The Hazards of Failing to File a Tax Return

All of us procrastinate. But some take things to dangerous extremes – putting off the filing of tax returns for a few years, or even many years. According to the IRS, each year some ten million people fail to file their tax returns. Nonfilers, as the IRS calls them, are skating on thin ice. They face both criminal and civil consequences. Luckily, these problems can be resolved if addressed, but they can also bring imprisonment and financial ruin if ignored.

New Facilities for Customs Clearance in International Trade

New regulations in Turkish International Trade Law came into effect on 10.01.2013 in order to simplify customs procedures for international traders. With the new regulation, economic operators can apply for an Authorized Economic Operator (AEO) status, which is given permanently with no expiry, either to have easier access to customs simplifications or to be in a more favorable position to comply with the new security requirements.

Whistleblowers Programs Could Help Regain Funds From Tax Dodgers

According to the California Franchise Tax Board, the state is owed more than 6.5 billion dollars in tax revenue. Some contend that implementation of a whistleblower rewards program could help to bring in some of that lost revenue.

Malta – Liechtenstein Doble Taxation Treaty

Malta's continuous effort in extending its tax treaty network (nearly 70 treaties entered into by Malta up to the end of October 2013) is again evidenced by a new tax treaty signed with Liechtenstein.

Updated Article Life in the Sun: The Ease of Benefitting from Tax Residence in Malta

Further to the suspension of the Permanent Residents Scheme in December 2010, the Government of Malta has put in place a scheme for special tax status aimed at attracting internationally mobile, high net worth individuals (HNWI) to become tax resident in our islands and benefit from a favorable tax rate of 15% on any income remitted into Malta.

The Migration of Non Resident Trusts to Italy

  By Giambrone
Trusts are still alien to the Italian legal system as they are essentially based on concepts in contrast with the Italian general principles on ownership. As the Italian legal system does not have a definition of trust, the Hague Convention has provided one, together with rules to be applied by Italian judges in the presence of conflicts in case of assets in trust located in Italy.

Polish and Turkish Legal Systems for Value Added Tax (VAT)

The value added tax (VAT), is a type of indirect turnover based tax that is levied during the final phase of the purchaser of the goods and is included in the price of the purchased item or service. Being a turnover tax, VAT is levied at each stage of the production and the distribution process as well.

Structuring Shareholders’ Agreements to Maintain Healthy Business Relationships

When persons get together to start a business, they generally share a common vision and goal for the business. However, as the journey progresses, the expectations, ambitions and even commitment of the individual shareholders tend to diverge.

Tax Deductibility of Valuation Reports in Divorce Proceedings – Germany

When assessing the value of a property because of the duty to disclose information and pay gains in divorce proceedings, the costs incurred are not tax deductible.

Special Tax Rate - Malta

It was reported in the past weeks that a “total of 320 professionals who have taken up residence in Malta are benefiting from a maximum tax rate of 15% on their €75,000-plus salaries”.

Impact of foreign and Domestic Inheritance Tax on Capital Assets – Germany

Under certain circumstances, inheritance tax charged in another country cannot be deducted or considered as a liability against the capital assets of a German testator.

How to Write Off Expenses for Meals and Entertainment on Your Corporate Taxes

  By HG.org
One of the most common questions often asked of corporate attorneys by small business owners who are just setting up their first company is how to write off expenses. Usually, two of the most important expenses these people want to write off are meals and entertainment expenses.

According to the BFH, Foreign Inheritance Tax May Not Creditable – Germany

If inheritance tax paid in a foreign country is not meant to be deductible in Germany, it is disregarded when the German inheritance tax is calculated.

Fiscal Cliff Crisis Avoided? Estate Taxes in 2013

In 2012, with the dreaded “Fiscal Cliff” looming, many were worried about the inaction that would cause the estate tax exemption level to fall to $1 million. However, in the first two days of the new year, Congress finally passed the American Taxpayer Relief Act of 2012 (ATRA) which makes permanent the $5 million exemption as well as portability.

Action Required: Portability

The American Taxpayer Relief Act of 2012 (ATRA) extended and made permanent (i.e., until Congress changes its mind) a number of key estate tax provisions. This includes a $5 million ($5.25 including inflation) estate tax exemption and portability of a deceased spouse’s exemption to the surviving spouse. The result of this means that married couples can shelter up to $10.5 million of their estate from federal taxes.

IRS Provides Same Sex Couples Direction, Post DOMA Ruling

The Supreme Court’s recent decision to allow same-sex couples to receive marriage benefits raised several questions that left many lawmakers, financial institutions and individuals anxious for answers. Now, finally, the IRS has issued guidance in Revenue Ruling 2013-17. A Revenue Ruling is the IRS’s interpretation of the law.

Shipping Investment Funds: Tax Advantages Can Go Up In Smoke – Germany

Due to disparities that must be calculated, investors in shipping funds may have to wait a long time before benefiting from expected tax savings.

Protect Your Assets From Judgment

  By HG.org
If you have already been sued, it is probably too late to do anything to protect your assets. But, if you are a planner and looking to protect your assets before you have a problem, this article is for you.

German Inheritance Tax

This article provides a brief introduction to the German inheritance tax.

Protection of Foreign Direct Investment in Cyprus

Cyprus had been the first Member State to experience and implement the resolution and bail-in approach with respect to failing banks, thus relieving taxpayers and direct investors from suffering the burden of rescuing failing, bad-managed banks. But there can be no doubt that Cyprus is a jurisdiction actively protecting foreign direct investment at the highest levels.

Understanding the Differences Between Corporations, LLC's, and Partnerships

  By HG.org
Congratulations on your decision to start a new business. The question you may be asking, though, is what kind of business you should form? What is the difference between a corporation, an LLC, and a partnership? Why form one and not another?

Private Confidentiality within Tax Investigation

The confidentiality of tax information is privately agreed, but this does not prevent the collection of information from a tax investigation subsequent to request for confidential information.

How Tax Treaties Allow Benefits from Double Taxation

Double tax treaties provide for relieving double taxation; sometimes double taxation relief is extend to tax paid by foreign subsidiaries and other foreign affiliates in terms of economic definition.

Reduced VAT on Short-term Yacht Charters Commencing in Malta

On the 29th July 2013, the VAT Department published guidelines in relation to the Malta VAT treatment of short-term yacht charters starting in Malta, which guidelines are largely similar to the interpretation which applicable to long-term yacht leases.

Amendment to the High Net Worth Individuals Rules for Non-EU/Non-EEA/Non-Swiss

Following the launch of the Global Residency Program earlier this month, the Government has (by means of Legal Notice 178 of 2013) amended the HNWI Rules.

Tax Due Diligence in M&A Transactions in Uzbekistan

The old English proverb says, “There are only two things in life that we can’t avoid, death and taxes,” – and it confirms once again the value and importance of the tax due diligence procedure as one of crucial attributes of most M&A (mergers and acquisitions) transactions.

Ukraine Extends Tax Privileges for IT Sector

Acknowledging the importance of the IT sector in Ukraine’s economy, the government has provided tax breaks to qualified companies and individuals in the IT sector that fall under the category of "subjects of the software product industry". From the period of January 1, 2013 until January 1, 2023, qualified IT companies and individuals are subject to a reduced profit tax rate of only 5%, provided they maintain a separate accounting of income and expenses of their activity in this sphere.

Panama Enacts New Tourism Law: Law 431 of 2012

Almost twenty years have passed since the enactment of Law 8 of 1994, which until the end of the year 2012 regulated tourism investments and incentives in the Republic of Panama. This body of law responded to a national strategy and a master plan oriented towards promoting tourism related investments in Panama.

Global Residence Program Launched - Malta

The 2013 Global Residence Program Rules have been finally published. Conversely as what has been expected however, these Rules are only applicable to non-Maltese, non-EEA and non-Swiss nationals.

Voluntary Disclosure in Relation to Untaxed Income Received from Service Fees Charged to an Agency - Germany

Reportedly, a number of university-level professors have voluntarily made disclosures in relation to untaxed income received as service fees charged to a PhD conferral mediation agency.

Can an Arm's-Length Principle Fall Outside the Arm's-Length Range?

The Metropolitan Court passed a strange judgement in a recent case. According to the judgement, taxpayers cannot argue that they used arm’s-length price in their transaction with their related companies if the corresponding transfer pricing document does not meet the legal requirements.

Amendment to the Highly Qualified Persons Rules - Malta

Legal Notice 152 of 2013, has brought into effect amendments to the Highly Qualified Persons Rules, applicable retrospectively from the 1st of January 2013.

Tax Avoidance - Cameroon

Tax avoidance like tax evasion is a worldwide phenomenon, prevalent in all countries including Cameroon. It is not a modern device, neither merely resulting from the present day imposition nor necessarily brought about by the strong and popular resentment of taxation. The origin o f tax avoidance can be traced to the thirteenth and fifteenth centuries England where the “Use” and the ‘’Trust’ were employed to avoid the incidence of manorial tenure.

Federal Supreme Court Judgment Makes Things Harder for Tax Evaders - Germany

Financial criminal offenses may occur more readily and more frequently than most people expect. In a recent decision, the BGH seems to have tightened its jurisdiction on tax misdeeds.

Sales Tax Law in Germany

Sales tax is a tax incurred when deliveries or other services are exchanged. For this reason, sales tax is incurred with respect to nearly every service and every product.

A Q&A Guide to Doing Business in Angola

  By FCB&A
An overview of key developments affecting doing business in Angola and an introduction to its legal system for foreign investment, currency regulations and incentives, business vehicles and relevant restrictions and liabilities. It provides short overviews on the laws regulating employment relationships including redundancies and on competition law, data protection, product liability/safety, taxation/tax residency and IP rights over patents, trade marks, registered and unregistered designs.

Bad Times for Tax Dodgers after Federal Supreme Court Judgment - Germany

The German Federal Supreme Court (BGH) is said to have tightened its jurisdiction on tax offenses in a recent ruling. In some cases, a suspended sentence is excluded.

Immediate Tax Deducts for Accrued Property Transfer Taxes - Germany

Whether real estate is being acquired entirely new in the context of property acquisition or if it was already in the partnership’s possession is an important fact.

The Application of VAT Exemptions on Commercial Yachts Registered Under the Malta Flag

In the judgement S&D Yachts Limited vs MY Nautonnier delivered by the Court of Magistrates in Malta on the 3rd May 2013, it was held among other things that a vessel registered as a commercial yacht was not automatically entitled to an exemption from VAT.

Malta and India Renegotiate Double Taxation Avoidance Agreement

India and Malta renegotiated the Double Taxation Avoidance Agreement (DTAA) between the two countries with the intention of aligning to changes in domestic laws.

Tightening of Jurisprudence on Criminal Code for Tax Offenses - Germany

The Federal Court of Justice (BGH) has seemingly tightened the jurisprudence on tax evasion. This shall particularly concern tax evaders who have failed to pay tax on multi-million euro amounts.

Change in Place of Supply Rules Affects the Maltese Leasing Structure

The 2013 amendments to the VAT legislation brought about changes to the place of supply rules in relation to long-term leases of yachts (leases for more than 90 days) to a non-taxable person.

Doble Taxation Treaty - Panama

Territoriality Tax Rule or Territorially tax system means “Do not pay taxes in Panama incomes for offshore source”, is a major fiscal benefits for foreign investors, however the country was victimize for Criminal Organization, choosing our jurisdiction for laundry money activities.

Open a Bank Account in Panama

The authors offer an overview of the process to obtain a bank account in Panama.

Notice of Included Sales Tax May Not Be Sufficient - Germany

A business can potentially be acting anti-competitively if the notice of included sales tax only becomes visible after clicking on the button “shipping and payment options”.

Accrued Property Transfer Tax May Apparently Still Be Immediately Tax Deductible - Germany

Up to now, it was not clear from a tax law perspective whether accrued property transfer tax constitutes incidental acquisition costs or an expense that is immediately tax deductible when there is a change to the composition of partners.

BFH Rules: No Constitutional Concerns Regarding the 1%- Rule - Germany

The BFH has quashed constitutional doubts concerning the 1%- rule on the basis of the gross list new price.

Thailand – the Latest Developments in South East Asia

Thailand is recovering from historic floods that inundated the country on a scale never seen before. Drastic taxation measures helped to boost the economy in 2012. Despite uncertainty about the evolution of the global economy, the Thai economy is expected to rebound sharply with GDP growing by 5.5% in 2012 and 5% in 2013 (according to The World Bank).

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