Integra Tax World

Attraction and Benefits of the UAE’s Corporate Tax Regime for International Businesses May 15, 2024 Author: Gopu Rama Naidu FCA, FCCA, CPA under and Managing Partner KGRN Chartered Accountants LLC [email protected]   Edited by: Grant Gilmour, B.SC., MBA, CPA BC, CA, CPA AZ Integra Tax World Newsletter Editor E:  [email protected]   Embracing the Corporate Tax Landscape in the UAE: Opportunities for Global Business Growth The United Arab Emirates has recently ushered in a new era of fiscal policy with the implementation of Corporate Tax, effective from the tax periods commencing on or after June 1, 2023. This move is aimed at bolstering the nation’s economic diversification and aligning its tax practices with global standards. For international businesses considering… Read More
New tax provisions in 2024 for Greece May 15, 2024 Author: George Giannopoulos Partner [email protected]   Edited by: Grant Gilmour, B.SC., MBA, CPA BC, CA, CPA AZ Integra Tax World Newsletter Editor E:  [email protected]   Law 5104/2024 (Tax Procedure Code) was published on April  20th 2024 being effective immediately. The new Law indicates change in accounting – tax procedures and bring new procedures as well.   Efficiency measures The main efficiency provisions of the Law 5104/2024 to update the Greece tax system include the following: Pre-filled tax returns: obligation to prepare tax returns is abolished for taxpayers, who have income exclusively from wages and pensions. The tax return is automatically pre-filled by the… Read More
Tax Obligations for Related Parties – Transfer Pricing in Latin America May 15, 2024 Originally Published in Spanish, Please look at the bottom of the article for the Spanish Version. Publicado originalmente en español, consulte la parte inferior del artículo para ver la versión en español.   Author: Lic. Salvador Pizano Moreno Gerente/ Manager [email protected] Edited by: Grant Gilmour, B.SC., MBA, CPA BC, CA, CPA AZ Integra Tax World Newsletter Editor E:  [email protected]   Transfer pricing, an important and controllable aspect of international taxation, refers to the prices at which companies within an international corporate group transfer goods, services, or intangible assets between each other. The forward at paragraph 11 of the OECD Transfer Pricing Guides. Says… Read More
What is going on in “Good old Germany” in taxes? a Commentary February 22, 2024 Author: By Dr. Filip Schade, Steuerberater, Master of Laws Wagemann + Partner PartG mbB, Berlin, E: [email protected] Edited by: Grant Gilmour, B.SC., MBA, CPA BC, CA, CPA AZ Integra Tax World Newsletter Editor E:  [email protected]   In this article, I will give you a brief overview of the current economic situation in Germany and the reasons for this development. Following this, I will explain existing and planned tax incentives and subsidies and critically assess them. At the end of the article I will make four proposals for a more far-reaching reform of German tax law in order to make Germany attractive again as… Read More
Underused Housing Tax (UHT) Canada – An Update February 16, 2024 Author: Nicholas Raycroft, CPA Senior Manager, Tax Hendry Warren LLP | Chartered Professional Accountants E: [email protected]   Edited by: Grant Gilmour, B.SC., MBA, CPA BC, CA, CPA AZ Integra Tax World Newsletter Editor E:  [email protected]     On June 9, 2022, the Canadian Government enacted the “UHT Act”. This tax is intended to discourage ownership of vacant or underused Canadian real estate.  We had previously provided an overview of the new UHT in our publication on February 23, 2023 https://www.integra-international.net/underused-housing-tax-uht-canada/. Since February 23, 2023, the Canadian Government has released additional guidance and amended UHT Act legislation. We thought it would be helpful to provide… Read More
The US IC-DISC is here to stay: Are you still missing the boat for your exporting clients? February 16, 2024 Author: Paul Ferreira, CPA President of Export Tax Management E: [email protected]   Edited by: Grant Gilmour, B.SC., MBA, CPA BC, CA, CPA AZ Integra Tax World Newsletter Editor E:  [email protected]   The IC-DISC is the most effective tax planning strategy for your clients who deliver their products for use outside of the United States. In 2017, the U.S. Congress enacted the Tax Cuts and Jobs Act of 2017. This landmark legislation provides permanence for the IC-DISC in 2018 and beyond. Many privately held companies that have products delivered to customers outside of the United States, including Canada and Mexico, are significantly reducing their… Read More
Coming to the Netherlands – favorable tax regime for expats November 22, 2023 Author: Mr. M.A. (Maxim) Boschman LL.M Senior Manager Tax, specialized in (international) payroll taxes at Londen & Van Holland The Dutch economy is mainly driven by human recourses (HR), knowledge and innovation. In order to attract foreign employees who bring specific knowledge to the table, the Dutch tax rules provide a favorable tax regime. This regime is called ‘the 30%-ruling’ and is applicable if certain conditions are met. Dutch wage tax system and the 30%-ruling In principle, everything (in money or in kind) reimbursed, given or provided to employees in that capacity is considered wage, subject to Dutch wage tax… Read More
Top fiscal measures proposed by Romanian Government to be implemented for 2024 and their impact November 22, 2023 Author: Nadia Oanea, CA, Tax Advisor NOA Tax & Training SRL The 2023 summer in Romania was a hot one, with a lot of public discussions on the need to change the tax law, to manage the increased budgetary deficit. After many proposals being discussed in mass media, on September 19, 2023, the Romanian Government published a draft law on some fiscal and budgetary measures to ensure Romania's long-term financial sustainability. On September 26, the Government assumed responsibility in Parliament for this bill. On 27 October 2023, the Law no 296 / 2023 was published in the Official Gazette and… Read More
Latvia – Draft Amendments to the Corporate Income Tax Law November 22, 2023 Author: Ina Spridzane, Tax Manager, “Orients Audit & Finance” SIA The Ministry of Finance has prepared a draft for amendments of the Law on corporate income tax for Latvia (CIT) which have been intended for credit institutions and consumer lending service providers. Most countries use so - called standard CIT system where the tax is paid on a company's taxable income, which includes revenue which is reduced for qualifying expenses, for instance, cost of goods sold, general and administrative expenses, selling and marketing, research and development, depreciation, and other operating costs. Thus, the taxpayers pay CIT in the period when… Read More
VAT at 50 in the UK. Will it ever grow up? November 22, 2023 Author: Gavin Barker VAT Director, Bright Grahame Murray The VAT system in its various names (dependant on where you are in the world) has been adopted by 175 countries and yet it has still not been adopted by the US. As many people will be aware, on 1st April 2023, UK VAT turned 50. Now we are part way through the designated VAT party year, I thought I would reflect on some of the history and facts about VAT in general and some of the quirky cases within the UK. First-off a quick history lesson: The creation of VAT is… Read More