News

Looking to start or expand a business in the United States?  Steve Handler at MichaelSilver in Chicago shares his thoughts on what you may need to consider.  [Read More]

Click here for a summary of the key aspects of Kenya's Finance act 2021 provided by Mbaya & Associates in Nairobi

• Update on Dutch government Covid support
• Registration in UBO Register
• New EU rules for VAT on e-commerce on 1 July 2021
• Cross-border workers - compliance with Dutch coronavirus legislation
• Multi-state workers: salary split
• Doing business in the Netherlands - video

Click here to find out more on the above. 

Prof. Dr. Rene Schafer, Tax Advisor and Specialist Advisor for International Tax Law, at Dornbach GmbH explains ...... [Read More]

A significant developmnent in the UAE for granting parental leave, applicable to both male and females.  Find out more ....

The UAE government has amended the Commerical Companies Law to allow foreign investors and entrepreneurs to set up fully owned onshore companies.  The amendment came into effect on 1 June 2021.  [Read More]

Judy Mason and Marco Loza at MichaelSilver in Chicago look at items to consider for your personal tax planning, strategies small business owners may wish to consider to minimise their 2021 tax bill and the American Families Plan announced by President Biden in April 2021.  [Read More]

The UAE is implementing measure to tackle tax avoidance (via profit shifting) and money laundering to bring in best practices as per the agreement with the OECD.  The find out more on this and the Economic Substance Regulation read this Blog from KPI in Dubai.

Kenya's 2021/2022 Budget was presented by the National Treausre & Planning Cabinet Secretary, Hon. Ukur Yatani on 10 June, and was themed "Building Back Better:  Strategy for Resilient and Sustainabe Economic Recovery and Inclusive Growth".  Click here to find out the taxation policy measures proposed in this update from the Tax Desk at Mbaya & Associates, Nairobi.

On 1 June 2021 Cyprus signed a tax treaty for the avoidance of double taxation with the Netherlands.  The treaty will come into force once legal procedures have been completed and will have effect in both contracting states on or after 1 January following the date it comes into force.  Find out more from this Tax Update provided by AuditPro Services.

Mr Aubrey Saverimuttu of Ted Saverimuttu & Co. in Sri Lanka takes over the reigns of our Asia Pacific region from Nandan Bendarkar.  [Read More]

New VAT simplification measures aimed at e-commerce businesses will be introduced across the EU on 1 July 2021.  Find out more in this Blog from Esther Wood at Goodman Jones in London.

We are delighted to be expanding our African region by welcoming Audinex in Casablanca.  [Read More]

Five months on form the date when the UK finally completed its exit from the European Union, the multiple challenges facing UK businesses trading with the EU are finlly becoming clear.  Graeme Blair at Goodman Jones in London takes a look at these.  [Read More]

The Ministry of Finance ("MOF"), UAE, has created a separate portal within its website for CRS and FATCA annual filings.  

The MOF has announced the opening of the annual reporting cycle of CRS/FATCA filing for the year 2020.  The due date for CRS/FATCA annual filing is 30 June 2021.  [Read More]

In an effort to tighten Anti Money Laundering regulations, the UAW has launched the goAML portal for specified bsinesses to register.  Find out more about the Law and the Designated Non-Financial Business and Professions that need to register on goAML in this blog from KPI in Dubai.

Last month saw Vale Added Tax (VAT) being introuced in the Sultanate of Oman at a standard rate of 5%.  For details of the VAT threshold, registration deadlines, rates and much more, click here to read this blog from KPI in Dubai.

Click here for Yale PGC's 2021 Quarter 2 Newsletter summarising these and other recent tax developments in Canada.

The German Anti-Treaty/Anti-Directive Shopping Provision is expected to be significantly tightened in May.  Read more in this newsletter from Dornbach GmbH.

Featuring:

• Fringe benefit tax and deemed interest tax rate
• Intended de-registration of non-compliant PIN numbers
• Voluntary tax disclousre programme
• Duty-free imports on returning residents
• Investment allowances

[Read More]

Developing an exit plan is the most important thing a business owner can do to protect the value of their business and avoid a "worst case" scenario.  MichaelSilver in Chicago consider the results of having no predetermined exit plan against having a well-designed and implemented exit plan and present their recommendations for achieving a successful one.  [Read More]

• Cross border workers - compliance with Dutch coronavirus legislation
• New EU rules for VAT on e-commerce on 1 July 2021
• What you need to know about the NOW scheme in 2021
• Reimbursement under TVL scheme increased to 100% in Q2
• Dutch tax deferral extended to 1 July 2021
• Help with tenancy issues in the Netherlands
• Doing business in the Netherlands - video

Click here to read more on the above.

HM Revenue & Customs has announced swift and sympathetic support for businesses suffering unfair levels of irrecoverable VAT due to the pandemic.  [Read More]

Since the introduction of the Tax Administration Act in 2011, taxpayers in South Africa have become aware more than ever before of their rights in dealing with the South African Revenue Services.  Click here for some brief highlights (provided by HVM Registered Auditors & Certified Accountants in Stellenbosch) on the rights that taxpayers have in terms of the Tax Administration Act, and which they may wish to enforce at some stage.

GMNI is delighted to announce that Bado, Kuster, Zerbino & Rachetti in Montevideo has joined our South American region.  [Read More]

The US Treasury Depatment and IRS has announced that the federal income tax filing due date for individuals (1040) for the 2020 tax year will be postponed from 15 April to 17 May 2021.  [Read More]

This and more from the Tax Desk at Mbaya & Associates in Nairobi. [Read More]

President Biden signed the US$1.9 trillion American Rescue Plan Act of 2021 ("ARP") on 11 March 2021.  The ARP provides relief funding to families and individuals, state and local governments, businesses and tax-exempt organisations.  Learn more about the notable benefits for individual taxpayers and businesses.

India's 2021 Budget was presented by Finance Minister, Normla Sitharaman on 1 February.  Read the budget highlights, as presented on the Government of India's website.

As expected, the Spring Budget announced on 3 March 2021 by the UK Chancellor of the Exchequer, Rishi Sunak, focused on contining support for businesses as the UK moves towards the easing of Covid-19 lockdown measures.

Find out more from this Budget Summary 2021 provided by Goodman Jones in London.

With many American businesses going to the UK right now, Goodman Jones in London have put together a summary of Frequently Asked Quesions that U.S. organisations have been putting to them.

Follow the link to Yale PGC's 2021 Quarter 1 Newsletter summarising these and other most recent tax developments in Canada.

Including Voluntary Tax Disclosure Program guidelines, accounting for Corporation Tax in years of income 2020 & 2021, solutions for staff onboarding while working-from-home.  [Read More]

Find out more on these subjects from this newsletter provided by Sullivan Bille PC in Boston.

There are always risks associated with trading in foreign currencies, and even more so now with all the unknowns occuring in the global economy.  How can you reduce those risks and how do you account for them in your business accounting system?  Read this article by Jennifer Birmingham at MichaelSilver in Chicago.  [Click here]

Find out more from this latest Newsletter from the Tax Desk at Mbaya & Associates in Nairobi.

With the UK having left the EU on 31 December, Goodman Jones' Managing Partner, Cetin Suleyman, gives a brief overview of UK VAT changes post Brexit.

At the time of year in the US when focus needs to be on getting 1099s prepared and delivered, MichaelSilver highlight some changes and important considerations for tax reporting in the new year.

Accon International share their year-end tips to help you and your business:

• Make use of the coronavirus support package
• Buy an electric car before the year is out
• Distribute dividend in 2020
• Work-related costs scheme:  increase and decrease in discretionary budget
• Benefit from the lower corporate income tax rate.

Click here for more details. 

The December issue of Mbaya & Associates' Newsletter announces proposals that tax reprieves put in place to cushion tax payers from the effects of Covid-19 will cease at the end of the year.  It also looks at the costs on solar energy and discusses income tax and VAT refunds.

A recently released Framework Summary of the Bipartisan COVID Relief Act of 2020 calls for a further US$300 billion to be released to the Small Business Administration, providing additional funding to allow those hardest hit small businesses to receive a second forgivable Paycheck Protection Program (PPP) loan.  [Read More]

Mauritius has introduced a new long-stay visa to meet the growing demand from international visitors looking to relocate to the Covid-safe island for work, leisure or retirement.  The new Premium Visa is open to those who want to relocate to allow them to work remotely, have a long-term second home on the islands or to retire there.  Find out more from this Global Business Update from GWMS Limited.

Click here to discover what 2020 year-end tax planning opportunities are available to individuals as well as business owners from this checklist provided by MichaelSilver in Chicago.

On 18 November the US Internal Revenue Service doubled down on its position that businesses receiving PPP loan forgiveness cannot deduct the PPP-related expenses.  Revenue Ruling 200-27 addresses the timing of the non-deductibility of PPP-related expenses.  [Read More]

As another tax year comes to a close int he USA, it is time for auto dealers to consider their tax planning opportunities and year-end tasks.  View checklist provided by MichaelSilver in Chicago.

Applicable to all UAE headquartered Multinational Groups of Entities (MNEs) whose consolidated group revenue exceeds AED 3.15 million in the previous financial year, click here to find out more about Country by Country Reporting in the UAE.  Information provided by KPI in Dubai.

For many borrowers who received Paycheck Protection Program (PPP) funds, the question of "When should I submit my PPP loan forgiveness application, earlier or wait until the application due date?" remains.  Click here for an article from Joshua Prince at MichaelSilver in Chicago in which he discusses several issues that may impact your decision.

For the latest on this, the taxation of subsidiaries and branches and the disclosure of company beneficial ownership in Kenya read this month's Newsletter from the Tax Desk at Mbaya & Associates.

The UAE Cabinet recently issued a Resolution introducing a regulation that requires all companies registered in the UAE mainland and commercial-free zones (exemptions do apply) to maintain registers of its real beneficial owners and partners or shareholders.  Find out more ....

Does your or your client's business need to apply for VAT Deregistration in the UAE?  Find out more from this blog post by KPI in Dubai.

On 27 October 2020 the Cyprus Tax Department issued an Implementing Guideline to clarify the application of Article 2 of the Income Tax Legislation relating to tax residency and permanent establishment (PE).  The purpose of the Guideline is to provide specific tax relaxation to those affected by the global measures taken to prevent the spread of COVID-19.  [Read More]

GMNI is delighted to announce that Methaq Consulting & Auditing in Amman, Jordan has joined its Asia Pacific region.  [Read More]