Hong Kong Last reviewed: 18 March 2014 A. Companies 1. Resident companies Corporate tax rates 16.5%

Save this PDF as:
 WORD  PNG  TXT  JPG

Size: px
Start display at page:

Download "Hong Kong Last reviewed: 18 March 2014 A. Companies 1. Resident companies Corporate tax rates 16.5%"

Transcription

1 Hong Kong Last reviewed: 18 March 2014 A. Companies 1. Resident companies Corporate tax rates 16.5% Tax base territorial Unilateral double taxation relief 2. Non- Corporate tax rates 16.5% on sale of shares in Branch profits Dividends Interest 4.95% (30% of profits x corporate tax rate) Fees (management) 3. Specific issues Participation relief n/a (all dividends are exempt from taxation) Group treatment Incentives high value manufacturing; qualifying debt instruments; qualifying reinsurance business; offshore mutual funds Anti-avoidance general rule; transfer pricing B. Individuals 1. Resident individuals Unilateral double taxation relief 2. Non-resident individuals on sale of shares in top rate 17% (income over HKD 120,000); standard tax rate 15%; unincorporated business income 15% (profits tax) top rate 17% (income over HKD 120,000) IBFD

2 Hong Kong Employment income Dividends Interest Fees (directors) C. Other direct taxes Net wealth tax Inheritance and gift taxes D. Turver taxes VAT/GST (standard) VAT/GST (reduced) VAT/GST (increased) Other salaries tax is levied on a provisional basis 4.95% (30% of profits x corporate tax rate) 2014 IBFD 198

3 Hungary Last reviewed: 1 May 2014 A. Companies 1. Resident companies Corporate tax rates Tax base Unilateral double taxation relief 2. Non- Corporate tax rates on sale of shares in 10% up to HUF 500 million; 19% over HUF 500 million worldwide part of business income; participation exemption for reported participation (at least 10% of capital, reported to tax authority, maintained for at least 1 year); gains on disposal of certain intangible assets exempt, ordinary foreign tax credit for maximum 90% of the foreign tax 10% up to HUF 500 million; 19% over HUF 500 million t taxable generally, however, 19% upon transfer of shares in real estate holding company Branch profits Dividends 0% Interest 0% 0% 0% Fees (management) 0% 3. Specific issues Participation relief inbound dividends: exempt outbound dividends: exempt Group treatment Incentives investment (with specific purpose); promotion of development; employment; SMEs; film production; sport subsidies; REITs regime; R&D IBFD

4 Hungary Anti-avoidance general rule; transfer pricing; thin capitalization; CFC (in relation to n-treaty countries and n-oecd/eu Member States) B. Individuals 1. Resident individuals 16% part of rmal income; 25% under certain circumstances Unilateral double taxation relief, ordinary foreign tax credit for maximum 90% of the foreign tax paid on foreign-source active income 2. Non-resident individuals 16% on sale of shares in t taxable generally, however, 16% tax on capital gains realized upon transferring interests in qualifying real estate holding companies Employment income general wage withholding applies Dividends 16% Interest 16%; 10% (held at least 3 years ); 0% (EU resident or held at least 5 years) (progressive, assessment) (progressive, assessment) Fees (directors) (progressive, assessment) C. Other direct taxes Net wealth tax Inheritance and gift taxes D. Turver taxes VAT/GST (standard) 27% VAT/GST (reduced) 0%, 5%, 18% VAT/GST (increased) Other local business tax, simplified entrepreneurial tax 2014 IBFD 200

5 Iceland Last reviewed: 1 May 2014 A. Companies 1. Resident companies Corporate tax rates 20%; 36% for partnerships registered as legal entities Tax base worldwide part of business income; gains on shares are exempt Unilateral double taxation relief, ordinary foreign tax credit 2. Non- Corporate tax rates 20% on sale of shares in 20% Branch profits Dividends 18% Interest 10%; 0% on certain bonds; if exempt in recipient s resident state; if paid by the Central Bank 20% 20% Fees (management) 20% 3. Specific issues Participation relief inbound dividends: outbound dividends: Group treatment Incentives tax concessions for direct investment Anti-avoidance transfer pricing; CFC regime B. Individuals 1. Resident individuals Unilateral double taxation relief national income: top rate 31.8% (over ISK 9,415,428); employment income: top rate 46.24% (over ISK 784,619); municipal income tax: average rate 14.4% part of business/investment income; privately owned movable/immovable property is exempt, ordinary foreign tax credit IBFD

6 Iceland 2. Non-resident individuals national income tax: top rate 31.8% (over ISK 9,415,428); employment income: 18% (assessment); municipal income tax - average rate 14.4% flat rate of 20% (assessment) on sale of shares in Employment income 18% (by assessment) Dividends 20% Interest 10%; 0% on interest income up to ISK 125,000 20% 18% Fees (directors) 18% C. Other direct taxes Net wealth tax Inheritance and gift taxes D. Turver taxes VAT/GST (standard) 25.5% VAT/GST (reduced) 0%, 7% VAT/GST (increased) Other, inheritance tax (gifts are taxed according to the rmal tax schedule) 2014 IBFD 202

7 India Last reviewed: 1 January 2014 A. Companies 1. Resident companies Corporate tax rates 30%; surcharge (SC) of 5% where total income exceeds INR 10 million and 10% where total income exceeds INR 100 million; 2% education cess (EC) and 1% secondary and higher education cess (SHEC) also levied on income tax payable (including surcharge where applicable); effective tax rate including above surcharge and cesses is % (with 5% SC) or 33.99% (with 10% SC) Tax base worldwide part of business income or specific regime depending on nature of taxpayer s business Unilateral double taxation relief 2. Non- Corporate tax rates 40%; surcharge (SC) of 2% where total income exceeds INR 10 million, and 5% where total income exceeds INR 100 million; 2% education cess (EC) and 1% secondary and higher education cess (SHEC) also levied on income tax payable (including surcharge where applicable); effective tax rate including above surcharge and cesses is % (with 2% SC) or 43.26% (with 5% SC) on sale of shares in Branch profits Dividends (a final dividend distribution tax is payable by the dividend-paying company at 15% plus 10% SC, EC and SHEC, i.e. an effective rate of %) Interest 20% (21.012% including SC, EC and SHEC for income between INR 10 million and INR 100 million, or 21.63% for income exceeding INR 100 million) IBFD

8 India Fees (management) 3. Specific issues Participation relief Group treatment Incentives Anti-avoidance B. Individuals 1. Resident individuals Unilateral double taxation relief 25% (26.265% including SC, EC and SHEC for income between INR 10 million and INR 100 million, or % for income exceeding INR 100 million) 25% (26.265% including SC, EC and SHEC for income between INR 10 million and INR 100 million, or % for income exceeding INR 100 million) 25% (26.265% including SC, EC and SHEC for income between INR 10 million and INR 100 million, or % for income exceeding INR 100 million) inbound dividends: outbound dividends: research companies; mineral oil production; cold chain facilities; shipping and air transportation; hotels; hospitals; power sector; manufacturing sector specific rules dealing with the holding period of income securities; transfer of income and immovable property; transfer pricing top rate 30% (on income over INR 1 million); 2% education cess (EC) and 1% secondary and higher education cess (SHEC) also levied on income tax payable; additional surcharge of 10% applicable on tax payable where total income exceeds INR 10 million, resulting in effective top rate of 33.99% specific regime 2014 IBFD 204

9 2. Non-resident individuals India schedular; top rate 30% (on income over INR 1 million); 2% EC and 1% SHEC also levied on income tax payable; additional surcharge of 10% applicable on tax payable where total income exceeds INR 10 million, resulting in effective top rate of 33.99% on sale of shares in Employment income top rate 30% (on income over INR 1 million); additional surcharge of 10% applicable on tax payable where total income exceeds INR 10 million, resulting in effective top rate of 33.99% Dividends Interest Fees (directors) C. Other direct taxes Net wealth tax Inheritance and gift taxes D. Turver taxes VAT/GST (standard) VAT/GST (reduced) VAT/GST (increased) Other (a final dividend distribution tax is payable by the dividend-paying company at 15% plus 10% SC, EC and SHEC, i.e. an effective rate of %) 10%/20% (11.33% / 22.66% including SC, EC and SHEC) 25% (28.325% including SC, EC and SHEC) 25% (28.325% including SC, EC and SHEC) 25% (28.325% including SC, EC and SHEC) (exists at state level) (exists at state level) (exists at state level) central sales tax on interstate sale of goods at 2% or 10%, or the prevailing state value added tax or state sales tax rate, whichever is higher; service tax at 12% (12.36% including EC and SHEC) on specified services; commodities transaction tax at 0.01% on commodities transactions IBFD

Income in the Netherlands is categorised into boxes. The above table relates to Box 1 income.

Income in the Netherlands is categorised into boxes. The above table relates to Box 1 income. Worldwide personal tax guide 2013 2014 The Netherlands Local information Tax Authority Website Tax Year Tax Return due date Is joint filing possible Are tax return extensions possible Belastingdienst www.belastingdienst.nl

More information

Your guide to taxation in India

Your guide to taxation in India Sharing our experience Your guide to taxation in India www.fpinternational.com The tax treatment of our products if you return to India Whilst tax planning might be an important part of your overall financial

More information

TAXATION INTRODUCTION

TAXATION INTRODUCTION TAXATION INTRODUCTION India has a complex tax structure and levy ranges from taxes and duties on corporate income, personal income, manufacturing, sale of goods, works contract, rendition of services,

More information

Macau SAR Tax Profile

Macau SAR Tax Profile Macau SAR Tax Profile Produced in conjunction with the KPMG Asia Pacific Tax Centre Updated: June 2015 Contents 1 Corporate Income Tax 1 2 Income Tax Treaties for the Avoidance of Double Taxation 5 3 Indirect

More information

Cambodia Tax Profile. kpmg.com.kh

Cambodia Tax Profile. kpmg.com.kh Cambodia Tax Profile kpmg.com.kh Content 1 2 Tax Profile Income Tax Treaties for the Avoidance of Double Taxation 6 Indirect Tax (e.g. VAT/GST) 7 8 Personal Taxation Other Taxes 9 11 Free Trade Agreements

More information

TURKEY CORPORATE TAX (KURUMLAR VERGISI) The basic rate of corporation tax for resident and non-resident companies in Turkey is 20%.

TURKEY CORPORATE TAX (KURUMLAR VERGISI) The basic rate of corporation tax for resident and non-resident companies in Turkey is 20%. TURKEY CORPORATE TAX (KURUMLAR VERGISI) The basic rate of corporation tax for resident and non-resident companies in Turkey is 20%. Corporations in Turkey can be regarded as either limited or unlimited

More information

TAX PRACTICE GROUP Multi-Jurisdictional Survey TAX DESK BOOK

TAX PRACTICE GROUP Multi-Jurisdictional Survey TAX DESK BOOK ICELAND Introduction TAX PRACTICE GROUP Multi-Jurisdictional Survey TAX DESK BOOK CONTACT INFORMATION Ólafur Kristinsson LOGOS legal services Efstaleiti 5 108 Reykjavík Iceland +354-5400300 olafurk@logos.is

More information

The Advantages of the UK as a Location for a Holding Company. David Gibbs May 2015

The Advantages of the UK as a Location for a Holding Company. David Gibbs May 2015 The Advantages of the UK as a Location for a Holding Company David Gibbs May 2015 The UK is an attractive location to site an international holding company since not only does it offer a relatively stable

More information

Country Tax Guide. www.bakertillyinternational.com

Country Tax Guide. www.bakertillyinternational.com www.bakertillyinternational.com International Tax Contact Moscow Andrey Kirillov T: +7 (495) 783 88 00 a.kirillov@bakertillyrussaudit.ru Corporate Income Taxes Resident companies, defined as those which

More information

Hong Kong SAR Tax Profile

Hong Kong SAR Tax Profile o Hong Kong SAR Tax Profile Produced in conjunction with the KPMG Asia Pacific Tax Centre Updated: November 2013 Contents 1 Corporate Income Tax 1 2 Income Tax Treaties for the Avoidance of Double Taxation

More information

Thailand Tax Profile. Produced in conjunction with the KPMG Asia Pacific Tax Centre. Updated: November 2013

Thailand Tax Profile. Produced in conjunction with the KPMG Asia Pacific Tax Centre. Updated: November 2013 Thailand Tax Profile Produced in conjunction with the KPMG Asia Pacific Tax Centre Updated: November 2013 Contents 1 Corporate Income Tax 1 2 International Treaties for the Avoidance of Double Taxation

More information

GERMANY TAX GUIDE. International Business Publications, USA Washington, DC, USA - Germany

GERMANY TAX GUIDE. International Business Publications, USA Washington, DC, USA - Germany GERMANY TAX GUIDE International Business Publications, USA Washington, DC, USA - Germany -3- GERMANY TAX GLIDE TABLE OF CONTENTS IMPORTANT INFORMATION FOR UNDERSTANDING GERMAN 10 STRATEGIC PROFILE 10 Geography

More information

TAX PRACTICE GROUP Multi-Jurisdictional Survey TAX DESK BOOK

TAX PRACTICE GROUP Multi-Jurisdictional Survey TAX DESK BOOK TRINIDAD AND TOBAGO Introduction TAX PRACTICE GROUP Multi-Jurisdictional Survey TAX DESK BOOK CONTACT INFORMATION Myrna Robinson-Walters M. Hamel-Smith &Co Eleven Albion, Dere and Albion Streets, Port-of-Spain,Trinidad

More information

United States Corporate Income Tax Summary

United States Corporate Income Tax Summary United States Corporate Income Tax Summary SECTION 1: AT A GLANCE CliftonLarsonAllen LLP 222 Main Street, PO Box 1347 Racine, WI 53401 262-637-9351 fax 262-637-0734 www.cliftonlarsonallen.com Corporate

More information

A 5.5% solidarity surcharge is imposed on the income tax liability of all taxpayers.

A 5.5% solidarity surcharge is imposed on the income tax liability of all taxpayers. Worldwide personal tax guide 2013 2014 Germany Local information Tax Authority Website Tax Year Tax Return due date 31 May 2013 Is joint filing possible Are tax return extensions possible 2013 income tax

More information

Monaco Corporate Taxation

Monaco Corporate Taxation Introduction Monaco is a sovereign principality. France is a guarantor of the sovereignty and territorial integrity of Monaco, while Monaco is to conform to French interests. Although the Prince is the

More information

Cambodia Tax Profile. Produced in conjunction with the KPMG Asia Pacific Tax Centre. Updated: August 2013

Cambodia Tax Profile. Produced in conjunction with the KPMG Asia Pacific Tax Centre. Updated: August 2013 Cambodia Tax Profile Produced in conjunction with the KPMG Asia Pacific Tax Centre Updated: August 2013 Contents 1 Corporate Income Tax 1 2 Income Tax Treaties for the Avoidance of Double Taxation 5 3

More information

Spanish Tax Facts. The Expatriate Financial Guide to Spain

Spanish Tax Facts. The Expatriate Financial Guide to Spain The Expatriate Financial Guide to Spain Spanish Tax Facts Introduction Tax Year Assessment Basis Taxation in Spain occurs at a national level and at a regional ( Autonomous Community ) or municipal level.

More information

Slovenia. Chapter. Avbreht, Zajc & Partners Ltd. 1 General: Treaties. 2 Transaction Taxes. Ursula Smuk

Slovenia. Chapter. Avbreht, Zajc & Partners Ltd. 1 General: Treaties. 2 Transaction Taxes. Ursula Smuk Chapter Avbreht, Zajc & Partners Ltd. Ursula Smuk 1 General: Treaties 1.1 How many income tax treaties are currently in force in? 44 income tax treaties are currently in force in. 1.2 Do they generally

More information

Worldwide personal tax guide 2013 2014. Japan. Local information. 2013 National Income Tax Rates Taxable Income Band National Income Tax Rates

Worldwide personal tax guide 2013 2014. Japan. Local information. 2013 National Income Tax Rates Taxable Income Band National Income Tax Rates Worldwide personal tax guide 2013 2014 Japan Local information Tax Authority Ministry of Finance Website www.mof.go.jp Tax Year 1 January to 31 December Tax Return due date 15 March Is joint filing possible

More information

COUNTRY PROFILE HONG KONG

COUNTRY PROFILE HONG KONG COUNTRY PROFILE HONG KONG 1. Economy and foreign investments 2. Tax Rates 3. Tax Treaties 4. Tax Credits 5. Property Tax 6. Excise Tax 7. Stamp Duty 8. Capital Duty 9. Estate Duty 10. Other duties, fees

More information

TAXATION OF INTEREST, DIVIDENDS AND CAPITAL GAINS IN CYPRUS

TAXATION OF INTEREST, DIVIDENDS AND CAPITAL GAINS IN CYPRUS TAXATION OF INTEREST, DIVIDENDS AND CAPITAL GAINS IN CYPRUS LAWS AND DECREES The Income Tax (Amendment) Law of 2005 The Special Contribution for Defence (Amendment) Law of 2004 The Assessment and Collection

More information

Tax Compliance in Greater China

Tax Compliance in Greater China m is,cch a Wolters Kiuwer business Tax Compliance in Greater China China, Hong Kong and Taiwan B363170 EXPANDED TABLE OF CONTENTS IX Chapter 1 INVESTMENT FRAMEWORK CHINA Introduction 4 Overview of the

More information

G E N C S V A L T E R S L A W F I R M B A L T I C T A X C A R D 2 0 1 5

G E N C S V A L T E R S L A W F I R M B A L T I C T A X C A R D 2 0 1 5 CORPORATE INCOME TAX IN BALTICS Corporate Income Tax Rates in Baltics Country Standard rate Decreased rate Transfer of loses to next periods Latvia 15% 11% microenterprises Unlimited Lithuania 15% Estonia

More information

Laos Tax Profile. Produced in conjunction with the KPMG Asia Pacific Tax Centre. Updated: June 2015

Laos Tax Profile. Produced in conjunction with the KPMG Asia Pacific Tax Centre. Updated: June 2015 Laos Tax Profile Produced in conjunction with the KPMG Asia Pacific Tax Centre Updated: June 2015 Contents 1 Corporate Income Tax 1 2 Income Tax Treaties for the Avoidance of Double Taxation 5 3 Indirect

More information

DOING BUSINESS IN DENMARK 2013

DOING BUSINESS IN DENMARK 2013 DOING BUSINESS IN DENMARK 2013 Editors: Wendela van den Brink-van Agtmaal Carlos Gutiérrez P. Ridha Hamzaoui Marnix Schellekens Mei-June Soo IBFD Visitors address: H.J.E. Wenckebachweg 210 1096 AS Amsterdam

More information

Facts on Taxation in Denmark

Facts on Taxation in Denmark Facts on Taxation in Denmark Updated by Njord Law Firm, December 2015 www.investindk.com Contents Corporate taxation... 2 Tax liability for different corporate forms... 2 Full or limited tax liability...

More information

Income tax for individuals is computed on a monthly basis by applying the above progressive tax rates to employment income.

Income tax for individuals is computed on a monthly basis by applying the above progressive tax rates to employment income. Worldwide personal tax guide 2013 2014 China Local information Tax Authority Website Tax Year Tax Return due date Is joint filing possible Are tax return extensions possible State Administration of Taxation

More information

Country Tax Guide.

Country Tax Guide. Country Tax Guide www.bakertillyinternational.com Country Tax Guide Germany Corporate Income Taxes Resident companies, defined as companies which are legally constituted in Germany, or which are legally

More information

Addendum. This addendum set out changes to be made in the Statement of Additional Information (SAI) of Tata Mutual Fund.

Addendum. This addendum set out changes to be made in the Statement of Additional Information (SAI) of Tata Mutual Fund. Addendum This addendum set out changes to be made in the Statement of Additional Information (SAI) of Tata Mutual Fund. Date of Enactment of Finance Bill 2015: 14th May 2015 Section VI. TAX & LEGAL & GENERAL

More information

Double Taxation Relief

Double Taxation Relief CHAPTER 15 Double Taxation Relief Some Key Points Bilateral relief Under this method, the Government of two countries can enter into an agreement to provide relief against double taxation by mutually working

More information

Belgium: Tax treatment of immigrating taxpayers

Belgium: Tax treatment of immigrating taxpayers Belgium: Tax treatment of immigrating taxpayers IFA Congres Madrid 30 May 2014 Marc Vandendijk Tax Lawyer VANDENDIJK & PARTNERS Rue Edith Cavellstraat 66 1180 Brussels Tel.: + 32 (0)2.343.33.45 E-MAIL:

More information

Receita Federal do Brasil (RFB) www.receita.fazenda.gov.br 1 January to 31 December Last working day of April following end of tax year

Receita Federal do Brasil (RFB) www.receita.fazenda.gov.br 1 January to 31 December Last working day of April following end of tax year Worldwide personal tax guide 2013 2014 Brazil Local Information Tax Authority Receita Federal do Brasil (RFB) Website www.receita.fazenda.gov.br Tax Year 1 January to 31 December Tax Return due date: Last

More information

Country Tax Guide. www.bakertillyinternational.com

Country Tax Guide. www.bakertillyinternational.com Country Tax Guide www.bakertillyinternational.com Baker Tilly Russia www.bakertilly.ru Eduard Kutcherov T: +7 (495) 783 88 00 kutcherov@bakertilly.ru Andrey Kirillov T: +7 (495) 783 88 00 a.kirillov@bakertilly.ru

More information

Provinces and territories also impose income taxes on individuals in addition to federal taxes

Provinces and territories also impose income taxes on individuals in addition to federal taxes Worldwide personal tax guide 2013 2014 Canada Local information Tax Authority Website Tax Year Tax Return due date Is joint filing possible Are tax return extensions possible Canada Revenue Agency (CRA)

More information

German Tax Facts. The Expatriate Financial Guide to Germany

German Tax Facts. The Expatriate Financial Guide to Germany The Expatriate Financial Guide to Germany German Tax Facts Introduction Tax Year Assessment Basis Income Tax Taxation in Germany occurs at a national and municipal level. The Ministry of Finance controls

More information

EXPLANATION OF PROPOSED INCOME TAX TREATY BETWEEN THE UNITED STATES AND HUNGARY

EXPLANATION OF PROPOSED INCOME TAX TREATY BETWEEN THE UNITED STATES AND HUNGARY EXPLANATION OF PROPOSED INCOME TAX TREATY BETWEEN THE UNITED STATES AND HUNGARY Scheduled for a Hearing Before the COMMITTEE ON FOREIGN RELATIONS UNITED STATES SENATE On June 7, 2011 Prepared by the Staff

More information

Hong Kong Taxation FUNDS AND FUND MANAGEMENT 2010. 3.1 Taxation of funds. Exemption for authorized or regulated funds. The first exemption applies to:

Hong Kong Taxation FUNDS AND FUND MANAGEMENT 2010. 3.1 Taxation of funds. Exemption for authorized or regulated funds. The first exemption applies to: Hong Kong Taxation FUNDS AND FUND MANAGEMENT 2010 3.1 Taxation of funds Funds, like other entities, are prima facie subject to Hong Kong tax (currently at the rate of 16.5 percent for the 2009/2010 year

More information

Papua New Guinea Tax Profile

Papua New Guinea Tax Profile Papua New Guinea Tax Profile Produced in conjunction with the KPMG Asia Pacific Tax Centre Updated: June 2015 Contents 1 Corporate Income Tax 1 2 Income Tax Treaties for the Avoidance of Double Taxation

More information

FOREIGNERS DOING BUSINESS IN THE UNITED STATES U.S. Taxation Overview

FOREIGNERS DOING BUSINESS IN THE UNITED STATES U.S. Taxation Overview FOREIGNERS DOING BUSINESS IN THE UNITED STATES U.S. Taxation Overview The U.S. economic activities of foreign individuals and entities are classified as inbound transactions while the foreign economic

More information

Sri Lanka Tax Profile

Sri Lanka Tax Profile Sri Lanka Tax Profile Produced in conjunction with the KPMG Asia Pacific Tax Centre Updated: September 2014 Contents 1 Corporate Income Tax 1 2 Income Tax Treaties for the Avoidance of Double Taxation

More information

Holding companies in Ireland

Holding companies in Ireland Holding companies in Irel David Lawless Paul Moloney Dillon Eustace, Dublin Irel has long been a destination of choice for holding companies because of its low corporation tax rate of 12.5 percent, participation

More information

Netherlands. Croatia. Malta. Slovenia. Greece. Czech Republic. Portugal. Compulsory. households actual. social contributions.

Netherlands. Croatia. Malta. Slovenia. Greece. Czech Republic. Portugal. Compulsory. households actual. social contributions. Structure and development of tax revenues Table EL.: Revenue (% of GDP) 2004 2005 2006 2007 2008 2009 200 20 202 203 I. Indirect taxes : : 2.3 2.7 2.7.8 2.6 3.5 3. 3.4 VAT : : 6.8 7. 7.0 6.3 7. 7.2 7.

More information

Malta Companies in International Tax Structuring February 2015

Malta Companies in International Tax Structuring February 2015 INFORMATION SHEET No. 126 Malta in International Tax Structuring February 2015 Introduction Malta is a reputable EU business and financial centre with an attractive tax regime and sound legislative framework.

More information

Bosera ETFs. Bosera FTSE China A50 Index ETF

Bosera ETFs. Bosera FTSE China A50 Index ETF Important: If you are in any doubt about the contents of this Addendum, you should consult your stockbroker, bank manager, solicitor, accountant or other financial adviser. This Addendum forms an integral

More information

The above are the rates of the personal income tax (imposta sul reddito delle persone fisiche, or IRPEF).

The above are the rates of the personal income tax (imposta sul reddito delle persone fisiche, or IRPEF). Worldwide personal tax guide 2013 2014 Italy Local information Tax Authority Italian Revenue Agency Website www.agenziaentrate.gov.it Tax Year 1 January to 31 December Tax Return due date 30 September

More information

Saudi Arabia Tax Guide

Saudi Arabia Tax Guide Saudi Arabia Tax Guide I IMPORTANT DISCLAIMER: No person, entity or corporation should act or rely upon any matter or information as contained or implied within this publication without first obtaining

More information

TAX CARD 2015 GREECE. Table of Contents

TAX CARD 2015 GREECE. Table of Contents GREECE TAX CARD TAX CARD 2015 GREECE Table of Contents 1. Individuals 1.1 Personal Income Tax 1.1.1 Employment and Pension Income 1.1.2 Income from Individual Practices and Freelance Professions 1.1.3

More information

TAX GUIDE BELGIUM. Professional advice should be obtained before acting on any information contained herein.

TAX GUIDE BELGIUM. Professional advice should be obtained before acting on any information contained herein. TAX GUIDE BELGIUM DISCLAIMER This document is for guidance only. Professional advice should be obtained before acting on any information contained herein. Last up date : December 2010 1 1. INDIVIDUAL INCOME

More information

Guide to Going Global TAX 2015

Guide to Going Global TAX 2015 Guide to Going Global TAX 2015 CONTENTS INTRODUCTION 03 04 AUSTRIA 08 BRAZIL 12 CANADA 16 CHINA 20 24 FRANCE 27 GERMANY 31 INDIA 35 IRELAND 39 ITALY 45 JAPAN 49 MEXICO 53 POLAND 57 SINGAPORE 61 SPAIN 65

More information

INTERNATIONAL EXECUTIVE SERVICES. India. Taxation of International Executives TAX

INTERNATIONAL EXECUTIVE SERVICES. India. Taxation of International Executives TAX INTERNATIONAL EXECUTIVE SERVICES India Taxation of International Executives TAX India: Taxation of International Executives Overview and Introduction 2 Income Tax 3 Tax Returns and Compliance 3 Tax Rates

More information

News Flash. September, 2015. Tax guide for property investment in Hungary

News Flash. September, 2015. Tax guide for property investment in Hungary News Flash September, 2015 Tax guide for property investment in Hungary Tax guide for property investment in Hungary In our current newsletter we would like to inform you about the most important taxation

More information

Company Income Tax and Other Taxes

Company Income Tax and Other Taxes Company Income Tax and Other Taxes Company Taxation Arrangements The company tax rate (also known as the corporate) is 30%. The treatment of business expenditure for the mining and petroleum industries

More information

450 Lexington Ave 1350 I Street, NW Suite 3320 Suite 1100 New York, NY 10017 Washington, DC 20005

450 Lexington Ave 1350 I Street, NW Suite 3320 Suite 1100 New York, NY 10017 Washington, DC 20005 Eric van Aalst Mark Riedy Citco Corporate Services Inc. Andrews Kurth LLP 450 Lexington Ave 1350 I Street, NW Suite 3320 Suite 1100 New York, NY 10017 Washington, DC 20005 Structuring International Operations

More information

6. Taxation. 6.1 General

6. Taxation. 6.1 General of being deemed as conducting business in Thailand, with a resulting tax burden. However, where the Thai agent does not act solely for the overseas company, but acts as a general agent for various companies,

More information

31 October (paper filing) 31 January (Electronic Filing)

31 October (paper filing) 31 January (Electronic Filing) Worldwide personal tax guide 2013 2014 United Kingdom Local information Tax Authority Website Tax Year Tax Return due date Is joint filing possible HM Revenue and Customs (HMRC) www.hmrc.gov.uk 6 April

More information

Setting up your Business in SINGAPORE Issues to consider

Setting up your Business in SINGAPORE Issues to consider SINGAPORE is commerce, industry, heritage, culture and entertainment all rolled into a little island of slightly over 700 square kilometres with a population of 5.4 million. Here at the crossroads of Asia,

More information

UBS (Irl) Fund plc. Supplement dated 2 July 2015 to the Prospectus dated 27 April 2015

UBS (Irl) Fund plc. Supplement dated 2 July 2015 to the Prospectus dated 27 April 2015 UBS (Irl) Fund plc Supplement dated 2 July 2015 to the Prospectus dated 27 April 2015 This Supplement is part of the English language Prospectus (the "Prospectus") dated 27 April 2015 of UBS (Irl) Fund

More information

Malaysia Tax Profile. Produced in conjunction with the KPMG Asia Pacific Tax Centre. Updated: November 2013

Malaysia Tax Profile. Produced in conjunction with the KPMG Asia Pacific Tax Centre. Updated: November 2013 Malaysia Tax Profile Produced in conjunction with the KPMG Asia Pacific Tax Centre Updated: November 2013 Contents 1 Corporate Income Tax 1 2 Income Tax Treaties for the Avoidance of Double Taxation 4

More information

International aspects of taxation in the Netherlands

International aspects of taxation in the Netherlands International aspects of taxation in the Netherlands Individuals resident in the Netherlands are subject to income tax on their worldwide income. Companies established in the Netherlands are subject to

More information

DOING BUSINESS IN HONG KONG 2013

DOING BUSINESS IN HONG KONG 2013 DOING BUSINESS IN HONG KONG 2013 Editors: Wendela van den Brink-van Agtmaal Carlos Gutiérrez P. Ridha Hamzaoui Marnix Schellekens Mei-June Soo IBFD Visitors address: H.J.E. Wenckebachweg 210 1096 AS Amsterdam

More information

2016 Tax Guideline for the Czech Republic. Legal forms of business Social security & Labor law aspects Overview of taxation system

2016 Tax Guideline for the Czech Republic. Legal forms of business Social security & Labor law aspects Overview of taxation system 2016 Tax Guideline for the Czech Republic Legal forms of business Social security & Labor law aspects Overview of taxation system General information about the Czech Republic Location: The Czech Republic

More information

Brunei Darussalam Tax Profile

Brunei Darussalam Tax Profile Brunei Darussalam Tax Profile Produced in conjunction with the KPMG Asia Pacific Tax Centre Updated: April 2013 Contents 1 Corporate Income Tax 1 2 Income Tax Treaties for the Avoidance of Double Taxation

More information

Appendix 3. The metric

Appendix 3. The metric Appendix 3 A consistent and useful effective tax rate methodology to assess the global tax performance of multinationals in relation to Australian-linked business operations 1 The purpose of this paper

More information

AFGHANISTAN INCOME TAX LAW. An unofficial translation of the Income Tax Law 2009 as published in Official Gazette number 976 dated 18 th March 2009

AFGHANISTAN INCOME TAX LAW. An unofficial translation of the Income Tax Law 2009 as published in Official Gazette number 976 dated 18 th March 2009 AFGHANISTAN INCOME TAX LAW 2009 An unofficial translation of the Income Tax Law 2009 as published in Official Gazette number 976 dated 18 th March 2009. This translation has been prepared by the Afghanistan

More information

MEXICAN TAX BILL FOR 2016

MEXICAN TAX BILL FOR 2016 MEXICAN TAX BILL FOR 2016 On September 8, 2015, the President sent to Congress the Tax Bill where some proposals are made to change current Mexican tax legislation. The main proposals are the following:

More information

Taiwan Tax Profile. Produced in conjunction with the KPMG Asia Pacific Tax Centre. Updated: January 2013

Taiwan Tax Profile. Produced in conjunction with the KPMG Asia Pacific Tax Centre. Updated: January 2013 Taiwan Tax Profile Produced in conjunction with the KPMG Asia Pacific Tax Centre Updated: January 2013 Contents 1 Corporate Income Tax 1 2 International Treaties for the Avoidance of Double Taxation 6

More information

TAX PRESENTATION. By Ronald R. Fieldstone, Esq. and Rebecca Abrams Sarelson, Esq. Arnstein & Lehr LLP

TAX PRESENTATION. By Ronald R. Fieldstone, Esq. and Rebecca Abrams Sarelson, Esq. Arnstein & Lehr LLP TAX PRESENTATION By Ronald R. Fieldstone, Esq. and Rebecca Abrams Sarelson, Esq. Arnstein & Lehr LLP 1 Table of Contents 1. Immigration Tax and EB-5 5 Planning (a) (b) (c) (d) (e) (f) Pre-departure planning

More information

UNIQUE TAX INCENTIVES in BELGIUM

UNIQUE TAX INCENTIVES in BELGIUM Federal Public Service Finance UNIQUE TAX INCENTIVES in BELGIUM 2014 Fiscal Department for Foreign Investments 25 22,3 23 24,2 26,3 25,1 28,2 31 31,3 34 34,3 37,1 37,9 36,5 38,6 40,1 2 Effective (Average)

More information

Greece Country Profile

Greece Country Profile Greece Country Profile EU Tax Centre March 2013 Key factors for efficient cross-border tax planning involving Greece EU Member State Double Tax Treaties With: Albania Estonia Lithuania Serbia Armenia Finland

More information

Tax Overview Setting up a Fund Manager in Singapore

Tax Overview Setting up a Fund Manager in Singapore www.pwc.com Tax Overview Setting up a Fund Manager in Singapore 8 July 2014 Singapore Agenda - Overview of Singapore tax system - Taxation of fund manager and individuals - Treatment of onshore and offshore

More information

Corporate Tax Implications of Denmark s Unilateral Termination of its Tax Treaties with France and Spain

Corporate Tax Implications of Denmark s Unilateral Termination of its Tax Treaties with France and Spain Corporate Tax Implications of Denmark s Unilateral Termination of its Tax Treaties with France and Spain Tax Treaty Monitor Jakob Bundgaard and Katja Joo Dyppel* Denmark terminated its tax treaties with

More information

FOREWORD. Saint Lucia

FOREWORD. Saint Lucia FOREWORD A country's tax regime is always a key factor for any business considering moving into new markets. What is the corporate tax rate? Are there any incentives for overseas businesses? Are there

More information

INTERNATIONAL EXECUTIVE SERVICES. Australia. Taxation of International Executives TAX

INTERNATIONAL EXECUTIVE SERVICES. Australia. Taxation of International Executives TAX INTERNATIONAL EXECUTIVE SERVICES Australia Taxation of International Executives TAX : Taxation of International Executives Overview and Introduction 3 Income Tax 4 Tax Returns and Compliance 4 Tax Rates

More information

INTERNATIONAL EXECUTIVE SERVICES. Brazil. Taxation of International Executives TAX

INTERNATIONAL EXECUTIVE SERVICES. Brazil. Taxation of International Executives TAX INTERNATIONAL EXECUTIVE SERVICES Brazil Taxation of International Executives TAX : Taxation of International Executives Overview and Introduction 3 Income Tax 4 Tax Returns and Compliance 4 Tax Rates 6

More information

Hong Kong. Country M&A Team Country Leader ~ Nick Dignan Guy Ellis Rod Houng-Lee Anthony Tong Sandy Fung Greg James Louise Leung Nicholas Lui

Hong Kong. Country M&A Team Country Leader ~ Nick Dignan Guy Ellis Rod Houng-Lee Anthony Tong Sandy Fung Greg James Louise Leung Nicholas Lui Hong Kong Country M&A Team Country Leader ~ Nick Dignan Guy Ellis Rod Houng-Lee Anthony Tong Sandy Fung Greg James Louise Leung Nicholas Lui Mergers & Acquisitions Asian Taxation Guide 2008 Hong Kong March

More information

EXPLANATION OF PROPOSED PROTOCOL TO THE INCOME TAX TREATY BETWEEN THE UNITED STATES AND GERMANY

EXPLANATION OF PROPOSED PROTOCOL TO THE INCOME TAX TREATY BETWEEN THE UNITED STATES AND GERMANY EXPLANATION OF PROPOSED PROTOCOL TO THE INCOME TAX TREATY BETWEEN THE UNITED STATES AND GERMANY Scheduled for a Hearing Before the COMMITTEE ON FOREIGN RELATIONS UNITED STATES SENATE On July 17, 2007 Prepared

More information

MALTA Jurisdictional Guide

MALTA Jurisdictional Guide MALTA Jurisdictional Guide GENERAL INFORMATION The Republic of Malta is situated in the centre of the Mediterranean, south of Sicily, east of Tunisia and north of Libya. Malta gained its independence from

More information

Fundamentals of Australian Taxation. Snehal Shah Director GMK Partners Pty Ltd

Fundamentals of Australian Taxation. Snehal Shah Director GMK Partners Pty Ltd Fundamentals of Australian Taxation Snehal Shah Director GMK Partners Pty Ltd Disclaimer This presentation is of a general nature only and is not intended to be relied upon as, nor to be a substitute for,

More information

PERSONAL AND CORPORATE TAXATION J. E. Triay Triay & Triay 28, Irish Town Gibraltar The Basis of Taxation? Income tax is charged on the income of any person (includes a company) which either; Accrues in

More information

Chapter 2 Company Taxation Regimes in the Asia-Pacific Region, India, and Russia

Chapter 2 Company Taxation Regimes in the Asia-Pacific Region, India, and Russia Chapter 2 Company Taxation Regimes in the Asia-Pacific Region, India, and Russia 2.1 Overview Generally, as regards the fiscal year 2009, the tax systems in the Asia-Pacific region, India, and Russia follow

More information

14. Corporate Tax and Depreciation

14. Corporate Tax and Depreciation 14. Corporate Tax and Depreciation Corporate income tax is levied on income from the worldwide operations of Czech tax residents and on Czech-source income of Czech tax non-residents. Czech tax residents

More information

15 Double Taxation Relief

15 Double Taxation Relief 15 Double Taxation Relief 15.1 Concept of Double Taxation Relief In the present era of cross-border transactions across the globe, the effect of taxation is one of the important considerations for any

More information

INTRODUCTION TO THE TAXATION SYSTEM IN ISRAEL

INTRODUCTION TO THE TAXATION SYSTEM IN ISRAEL INTRODUCTION TO THE TAXATION SYSTEM IN ISRAEL 1. INTRODUCTION The Israeli tax system is based on UK tax principles with substantial modification. On January 1, 2003, Israel introduced a substantial tax

More information

Pros and Cons. Moving your Company s operations and executives from Hong Kong to Singapore. Shanker Iyer Sanjay Iyer 9 February 2015 IYER PRACTICE

Pros and Cons. Moving your Company s operations and executives from Hong Kong to Singapore. Shanker Iyer Sanjay Iyer 9 February 2015 IYER PRACTICE Moving your Company s operations and executives from Hong Kong to Singapore Pros and Cons Shanker Iyer Sanjay Iyer 9 February 2015 SINGAPORE HONGKONG 20 YEARS IN PRACTICE AGENDA 1. General Background 2.

More information

Pros and Cons. Moving your Company s operations and executives from Hong Kong to Singapore. Shanker Iyer Sanjay Iyer 9 February 2015 IYER PRACTICE

Pros and Cons. Moving your Company s operations and executives from Hong Kong to Singapore. Shanker Iyer Sanjay Iyer 9 February 2015 IYER PRACTICE Moving your Company s operations and executives from Hong Kong to Singapore Pros and Cons Shanker Iyer Sanjay Iyer 9 February 2015 SINGAPORE HONGKONG 20 YEARS IN PRACTICE AGENDA 1. General Background 2.

More information

Tax Reform in Brazil and the U.S.

Tax Reform in Brazil and the U.S. Tax Reform in Brazil and the U.S. Devon M. Bodoh Principal in Charge Latin America Markets, Tax KPMG LLP Carlos Eduardo Toro Director KPMG Brazil Agenda Overview of Global Tax Reform Overview Organization

More information

Investing in Northern Ireland

Investing in Northern Ireland Investing in Northern Ireland Key Tax Issues August 2012 kpmg.ie 1 1 Contents 1 Introduction 3 2 Corporation tax 4 3 Individual taxation 10 4 Other taxes 12 Appendix 1 - UK Tax Residence 13 2 1. Introduction

More information

Philippines Tax Profile

Philippines Tax Profile Philippines Tax Profile Produced in conjunction with the KPMG Asia Pacific Tax Centre Updated: September 2013 Contents 1 Corporate Income Tax 1 2 Income Tax Treaties for the Avoidance of Double Taxation

More information

Asia Pacific. Corporate Tax Report. Brought to you by www.rikvin.com. Connect with us for the latest business updates:

Asia Pacific. Corporate Tax Report. Brought to you by www.rikvin.com. Connect with us for the latest business updates: Asia Pacific Corporate Tax Report Brought to you by www.rikvin.com Connect with us for the latest business updates: Circle us on Google+ Like us on Facebook Join us on LinkedIn Follow us on Twitter TABLE

More information

Income Basic Tax, Otherwise Known as Alternative Minimum Tax ("AMT")

Income Basic Tax, Otherwise Known as Alternative Minimum Tax (AMT) Corporate Taxation System in Taiwan Corporate Income Tax The amount of income of a profit-seeking enterprise shall be the net income, i.e., the gross yearly income after deduction of all costs, expenses,

More information

FOREWORD. Cape Verde. Services provided by member firms include:

FOREWORD. Cape Verde. Services provided by member firms include: 2015/16 FOREWORD A country's tax regime is always a key factor for any business considering moving into new markets. What is the corporate tax rate? Are there any incentives for overseas businesses? Are

More information

TDS ON FOREIGN REMITTANCES Surprises continued..

TDS ON FOREIGN REMITTANCES Surprises continued.. TDS ON FOREIGN REMITTANCES Surprises continued.. CA. Ashwani Rastogi ashwani.rastogi.ca@gmail.com +91 9990999281 New Delhi 12 August 2014 1 TDS ON FOREIGN REMITTANCE As Per Section 195 TDS shall be deducted

More information

The Expatriate Financial Guide to

The Expatriate Financial Guide to The Expatriate Financial Guide to Australian Tax Facts Australia Introduction Tax Year Assessment Basis Income Tax Taxation in Australia is mostly at a national/federal level with property taxes (council

More information

Private Company: SWEDEN

Private Company: SWEDEN Private Company: SWEDEN Limited Liability Company [Aktiebolag /AB] Partnership [Handelsbolag / HB] Limited Partnership [Kommanditbolag / KB] Formation and Registration Bank Accounts Professional Administration

More information

CLIENT ATTORNEY PRIVILEGED WORK PRODUCT. Jurisdictional comparison The Netherlands Luxembourg Cyprus Holding companies

CLIENT ATTORNEY PRIVILEGED WORK PRODUCT. Jurisdictional comparison The Netherlands Luxembourg Cyprus Holding companies Jurisdictional comparison The Netherlands Luxembourg Cyprus Holding companies CORPORATE/LEGAL Incorporation time and costs Possible in 3 days app. EUR 2,500 Less than a week app. EUR 4,000 Up to 2 weeks

More information

Norway Taxation. 3.1 Taxation of funds. Gross income

Norway Taxation. 3.1 Taxation of funds. Gross income Norway Taxation FUNDS AND FUND MANAGEMENT 2010 3.1 Taxation of funds A collective investment fund (verdipapirfond) is a separate taxable entity and is liable to corporate income tax at the standard rate

More information

ENCHANCING PORTUGUESE CORPORATE TAX REGIME

ENCHANCING PORTUGUESE CORPORATE TAX REGIME December 2013 ENCHANCING PORTUGUESE CORPORATE TAX REGIME The Parliament has approved the Portuguese Corporate Income Tax Reform. This Reform, which follow largely the recommendations of the Reform Commission,

More information

Luxembourg Individual Taxation

Luxembourg Individual Taxation Introduction Individuals are subject to a national income tax and a surcharge thereon and inheritance and gift taxes. Individuals may be subject to a municipal business tax if they run a business on their

More information

Annual International Bar Association Conference 2014. Tokyo, Japan. Recent Developments in International Taxation. Portugal. Guilherme Figueiredo

Annual International Bar Association Conference 2014. Tokyo, Japan. Recent Developments in International Taxation. Portugal. Guilherme Figueiredo Annual International Bar Association Conference 2014 Tokyo, Japan Recent Developments in International Taxation Portugal Guilherme Figueiredo Eurofin Capital S.A. gfigueiredo@eurofincapital.com 1. RECENT

More information