News

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]