UAE introduces federal corporate income tax system
The United Arab Emirates issued Federal Decree-Law No. 47 of 2022 on the Taxation of Corporations and Businesses, which provides the legislative basis for the introduction of a federal corporate income tax (CIT) regime on business profits from financial years starting on or after 1 June 2023. Under the regime,…
European Council approves new foreign subsidies’ regulation
The European Council gave its final approval to the foreign subsidies’ regulation, which is designed to address distortions created by subsidies granted by non-EU countries to companies operating on the EU single market. The regulation lays down procedural rules for investigating such subsidies in the context of large concentrations and…
U.S. Entity Structure Benefits
Have you wanted to know the benefits of entity structures in the United States? What are the liability protections, the tax implications and the formation and maintenance requirements? This is your one stop shop to learn it all. The best part is, you can compare the structures to see what…
ARGENTINA EQUIVALENT GOOD STANDING – WHAT IT IS AND HOW TO GET ONE
In Argentina, the Ministry of Justice and Human Rights oversees the Inspección General de Justicia (IGJ) which is the Superintendency of Corporations in Buenos Aires, Argentina. The accessibility of corporate and public records has waxed and waned under different Argentinian presidents – from reasonably open access to…
Switzerland To Share Tax Data With 12 More States
At its meeting on May 18, 2022, the Swiss Federal Council approved the dispatch on the introduction of the automatic exchange of information on financial accounts (AEOI) with 12 other partner countries. Specifically, the Federal Council intends to exchange information on financial accounts with the following other partner…
BVI To Launch New Tax Administration Platform
The British Virgin Islands’ Inland Revenue Department is to introduce a new platform from early next year to automate the administration of all taxes and licenses. The Standard Integrated Government Tax Administration System – SIGTAS 3.0 – is to be introduced from February 2023, the Government said. The…
Seychelles Company Formation
Introduction to the Seychelles A byword for tropical beauty, the Seychelles is an archipelago located in the Indian Ocean to the north east of Madagascar. However, as well as being a popular tourist destination, the Seychelles has established itself on the map as a modern and competitive offshore financial…
Singapore Company Formation
Located in South East Asia, Singapore has emerged as the region’s premier business and trade hub. With a highly developed and successful free market economy the city-state enjoys an open and corruption-free environment, legal and political stability, and a low tax regime. Singapore has long been ranked highly for…
Ireland Company Formation
Due to its low corporate tax rate, business-friendly government, use of the English language, and its common law heritage, Ireland has become a favored destination for foreign companies entering the EU marketplace, especially those from the United States. Foreign investors are represented across numerous economic sectors, in particular manufacturing, information…
British Virgin Islands Company Formation
British Virgin Islands Company Formation The British Virgin Islands Business Company format has arguably been the most popular offshore corporate vehicle of the last 20 to 30 years. A brief introduction to the BVI’s legal framework as well as its tax rules, companies legislation and limited company format are…