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03/08/2021 USA: ACCOUNTING & TAX CONSIDERATIONS FOR EXPANDING INTO THE UNITED STATES

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]

  • United States of America

28/07/2021 KENYA: HIGHLIGHTS OF FINANCE ACT 2021

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

  • Kenya

27/07/2021 NETHERLANDS: THE LATEST NEWS FROM ACCON INTERNATIONAL (JULY 2021)

  • 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. 

  • Netherlands

16/07/2021 GERMANY: REFORM OF THE CONTROLLED FOREIGN CORPORATION RULES

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

  • Germany

14/07/2021 UAE: PARENTAL LEAVE - NEW LEGISLATION

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

13/07/2021 UAE: 100% FOREIGN OWNERSHIP IN ONSHORE COMPANIES

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]

  • United Arab Emirates

06/07/2021 USA: MID-YEAR TAX PLANNING

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]

  • United States of America

21/06/2021 UAE: LATEST ON ULTIMATE BENEFICIAL OWNER & ECONOMIC SUBSTANCE REGULATIONS

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.

  • United Arab Emirates

21/06/2021 KENYA: FISCAL YEAR 2021/2022 BUDGET HIGHLIGHTS

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.

  • Kenya

16/06/2021 CYPRUS: NEW TAX TREATY SIGNED WITH THE NETHERLANDS

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.

  • Cyprus

08/06/2021 A NEW PRESIDENT FOR GMNI'S ASIA PACIFIC REGION

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

  • Sri Lanka

03/06/2021 EU: VAT SIMPLIFICATION FOR E-COMMERCE BUSINESSES

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.

  • United Kingdom

02/06/2021 GMNI APPOINTS A NEW FIRM IN MOROCCO

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

  • Morocco

01/06/2021 UK: WHERE ARE WE ON OUR VAT BREXIT JOURNEY?

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]

  • United Kingdom

25/05/2021 UAE: CRS / FATCA FILING FOR REPORTABLE TAX PERIOD 2020

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]

  • United Arab Emirates

20/05/2021 UAE: ANTI MONEY LAUNDERING LAW REGISTRATION & COMPLIANCE

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.

  • United Arab Emirates

20/05/2021 OMAN: THE INTRODUCTION OF VAT

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.

  • Oman

18/05/2021 CANADA: IMMEDIATE CAPITAL ASSET WRITE-OFF, CANADA RECOVERY HIRING, EXTENDED WAGE & RENT SUBSIDIES, COVID-19 BENEFITS FOR INDIVIDUALS AND MUCH MORE

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

  • Canada

12/05/2021 GERMANY: IMMINENT ADDITIONAL TAX LOAD FOR INTERNATIONAL PAYMENTS

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

  • Germany

12/05/2021 KENYA: MAY 2021 NEWSLETTER FROM THE TAX DESK OF MBAYA & ASSOCIATES

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]

  • Kenya

07/05/2021 SIX ELEMENTS OF A SUCCESSFUL EXIT PLAN

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]

  • United States of America

26/04/2021 NETHERLANDS: THE LATEST NEWS FROM ACCON INTERNATIONAL

  • 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.

09/04/2021 UK: HMRC SUPPORT FOR BUSINESSES SUFFERING LOST VAT RECOVERY

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

  • United Kingdom

09/04/2021 SOUTH AFRICA: WHY DO I NEED TO KNOW MY RIGHTS AS A TAXPAYER?

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.

  • South Africa

06/04/2021 GMNI EXTENDS ITS SOUTH AMERICAN PRESENCE BY WELCOMING BADO, KUSTER, ZERBINO & RACHETTI IN URUGUAY

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

  • Uruguay

23/03/2021 USA: TAX DEADLINE FOR INDIVIDUAL (1040) TAX RETURNS PUSHED TO 17 MAY 2021

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]

  • United States of America

23/03/2021 KENYA: EXTENSION OF TIMELINES FOR SUBMISSION OF BENEFICIAL OWNERSHIP INFORMATION

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

  • Kenya

18/03/2021 USA: THE AMERICAN RESCUE PLAN EXTENDS RELIEF THROUGH 2021

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.

  • United States of America

04/03/2021 INDIA: 2021 BUDGET

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.

 

 

  • India

04/03/2021 UK: SPRING BUDGET 2021

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.

  • United Kingdom

01/03/2021 UK/USA: FAQs FOR U.S. BUSINESSES EXPANDING INTO THE UK

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.

  • United Kingdom

01/03/2021 CANADA: PENSION PLAN COSTS, EMERGENCY WAGE SUBSIDY, EMERGENCY RENT SUBSIDY, PERSONAL TAX DEDUCTIONS FOR EMPLOYEES WORKING FROM HOME DURING COVID-19 AND MORE

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

  • Canada

16/02/2021 KENYA: THE LATEST UPDATE FROM THE TAX DESK OF MBAYA & ASSOCIATES IN NAIROBI

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]

  • Kenya

16/02/2021 USA: IRS NOTICES, ABATING TAX PENALTIES, SALES TAX AUDITS

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

  • United States of America

12/02/2021 USA: ACCOUNTING FOR FOREIGN CURRENCY TRANSACTIONS AND EXCHANGE RATES

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]

  • United States of America

26/01/2021 KENYA: DIGITAL SERVICE TAX, A CHANGE OF TAX RATES AND MORE ....

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

  • Kenya

11/01/2021 UK: VAT CHANGES POST BREXIT

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.

  • United Kingdom
  • GMNI News

11/01/2021 USA: IT'S 1099 SEASON

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.

  • United States of America
  • GMNI News

15/12/2020 NETHERLANDS: END OF YEAR TIPS 2020

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. 

  • Netherlands

15/12/2020 KENYA: RETURN OF PRE-COVID TAX RATES .... AND MORE

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.

  • Kenya

15/12/2020 USA: FRAMEWORK SUMMARY OF THE BIPARTISAN COVID RELIEF ACT OF 2020

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]

  • United States of America

08/12/2020 MAURITIUS: THE NEW PREMIUM TRAVEL VISA FOR LONG STAYS

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.

  • Mauritius

07/12/2020 USA: 2020 YEAR-END TAX PLANNING CHECKLIST

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.

  • United States of America

03/12/2020 USA: LATEST IRS GUIDANCE ON NON-DEDUCTIBILITY OF PPP-RELATED EXPENSES

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]

  • United States of America

20/11/2020 USA: 2020 YEAR-END PLANNING CHECKLIST FOR AUTO DEALERS

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.

  • United States of America

20/11/2020 UAE: COUNTRY BY COUNTRY REPORTING

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.

  • United Arab Emirates

17/11/2020 USA: WHEN SHOULD YOU SUBMIT YOUR PPP LOAN FORGIVENESS APPLICATION - EARLIER OR LATER?

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.

  • United States of America

16/11/2020 KENYA: AMNESTY ON VOLUNTARY TAX DISCLOSURE

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.

  • Kenya

16/11/2020 UAE: ULTIMATE BENEFICIAL OWNERSHIP

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 ....

  • United Arab Emirates
  • Economy

13/11/2020 UAE : VAT DEREGISTRATION

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.

  • United Arab Emirates

09/11/2020 CYPRUS: APPLICATION OF TAX RESIDENCY AND PERMANENT ESTABLISHMENT (PE) DURING COVID-19 CRISIS

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]

  • Cyprus

01/10/2020 WELCOMING GMNI'S FIRST MEMBER IN JORDAN

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

  • Jordan

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