BLUM Attorneys at Law

Size: px
Start display at page:

Download "BLUM Attorneys at Law"

Transcription

1 BLUM Attorneys at Law CORPORATE TAXATION SYSTEM IN SWITZERLAND Outline of Swiss Corporate Tax System Levels of Taxation in Switzerland Resident companies are subject to: federal corporate income tax, and cantonal/communal corporate income taxes, and cantonal/communal capital taxes. Resident / Non-Resident Companies Corporate taxpayers are resident under Swiss domestic tax laws if either their corporate seat or place of effective management is located in Switzerland. Resident companies are subject to worldwide taxation, excluding income allocable to foreign permanent establishments and income from foreign real estate. Non-resident companies may be subject to Swiss corporate tax if they: are partners in a Swiss partnership; or have a permanent establishment in Switzerland; or own Swiss real estate; or have claims secured by a mortgage on Swiss real estate; or deal with Swiss real estate respectively act as a broker thereof. Non-resident companies are taxed only with respect to their Swiss income and Swiss assets. The income attributable to a Swiss permanent establishment of a foreign corporation is determined under the direct method, i.e. based on the books of accounting of said permanent establishment. Corporate Income Taxes Corporate income taxes are levied both at the federal and the cantonal/communal level. The federal corporate income tax is levied at the rate of 8.5%. Given that taxes themselves are treated as a tax deductible expense for purposes of determining the company's taxable income, the effective rate of federal corporate income tax amounts to 7.83%. Cantonal corporate income tax rates vary considerably from canton to canton. On average, they are around 13%. In the fiscal year 2007, the canton of Obwalden is the most favorable canton with a combined corporate income tax rate for the canton and the communes of 6.6% and an effective rate of 5.62%. Capital Taxes The cantonal/communal capital tax is levied annually on the fully paid-in share capital and the reserves (net equity) of a resident company or branch as of the end of the fiscal year. The tax rates vary from canton to canton; on average they are around 0.4%. Reduced tax rates apply to tax privileged companies. In the fiscal year 2007 the cantonal/communal capital tax rate in the canton of Obwalden amounts to 0.2%. Participation Exemption Swiss corporations and Swiss branches holding a qualified participation (at least 20% of the stock of another corporation, whether Swiss or foreign, or representing a fair market value of at least CHF 2 million) are granted a dividend received deduction both at the federal and cantonal/communal level. Accordingly, the corporate income tax is reduced in the proportion which the net dividend income from such participations bears to the total net taxable income. As a result, such dividend income is virtually exempt from tax / doc

2 Capital Gains Capital gains realized upon the disposition of a qualified participation also qualify for the dividend received deduction both at the federal and cantonal/communal level, provided such participation has been held for at least one year. Holding Privilege In addition, all cantons grant a holding company privilege to pure holding companies which results in full tax exemption at the cantonal/communal level also for income other than dividends from qualifying participations. Generally, the requirements for the holding company privilege are: the articles of incorporation state that the company s exclusive or main purpose is the holding of participations (i.e. no active business activity); and either 2/3 of the total assets consist of qualifying participations; or 2/3 of the total income is derived from qualifying participations. Consequently, pure holding companies only pay federal corporate tax on the income that does not qualify for the federal dividend received deduction. Domiciliary Companies All cantons provide for a privileged tax regime for domiciliary companies. A resident company qualifies as a domiciliary company if its activities are predominantly performed abroad and the activities performed in Switzerland are of an administrative nature only (e.g. headquarters of multinational enterprises). The privileged tax regime for domiciliary companies is only available at the cantonal/communal level, but not at the federal level. Qualifying income from participations is tax-free. Only a small portion of foreign source income (up to 15%), which is determined in accordance with the importance of the administrative activities performed in Switzerland, is included in the company s tax base. The tax base so determined is subject to cantonal/communal corporate income tax at the ordinary tax rates. On the other hand, Swiss source income is fully included in the company s tax base. Business expenditures are deductible from the income to which they have a business correlation. Reduced capital tax rates apply to domiciliary companies. Auxiliary/Mixed Companies Auxiliary companies (also called mixed companies) are permitted to perform limited business activities in Switzerland. As a general rule, at least 80% of the total income must emanate from foreign sources. Hence, Swiss source income may not exceed 20% of the company s total income. Additionally, 80% of the expenses must be related to the business activities performed abroad. The tax regime applicable to auxiliary companies is the same as the domiciliary company tax regime, with the exception that the portion of foreign source income to be included in the tax base is determined in accordance with the importance of the business activities performed in Switzerland. Tax Losses For federal and cantonal/communal tax purposes, losses may be carried forward for seven years but cannot be carried back. Thin Capitalization Rules Under the federal thin capitalization guidelines, an asset base test is used to determine whether a company is adequately financed. For each type of asset, only a specific percentage may be financed with debt from related parties. Interest expense on related party debt in excess of the maximum debt-to-equity ratio is not deductible for federal corporate tax purposes. Only a few cantons have explicit provisions on minimum equity requirements. Many cantons apply the federal thin capitalization guidelines described above. In other cantons a debt-to-equity ratio of 6:1 may be used. Transfer Pricing Switzerland has no statutory transfer pricing rules. The Swiss tax authorities accept and apply the transfer pricing methods promulgated by the OECD. Hence, transactions between affiliated companies must observe the principle of dealing at arm's length doc 2/5

3 Issuance Stamp Tax At the federal level a 1% issuance stamp tax is levied on the issuance as well as the increase of participation rights, against consideration or gratuitously, with the amount of CHF 1,000, remaining exempt from tax. The establishment of a Swiss branch, however, does not trigger the issuance stamp tax. Transfer Stamp Tax At the federal level a transfer stamp tax is levied on the transfer of title to taxable securities for consideration, if at least one of the parties to the transaction or an intermediary involved in the transaction qualifies as a domestic securities dealer. Federal Withholding Tax The federal withholding tax is levied at the rate of 35% on the distribution of profits (including constructive dividends) and liquidation proceeds by a Swiss joint stock-company. A distribution is any payment by the company to its shareholder other than a repayment of stated capital. Profits distributed by a Swiss branch to its foreign head office are not subject to withholding tax No withholding tax is levied on royalties. As from July 1, 2005 the Savings Tax Agreement between Switzerland and the EU has been in force, which has introduced measures equivalent to those laid down in the EU Parent-Subsidiary Directive and the EU Interest & Royalty Directive, namely the abolition of withholding tax on crossborder payments of dividends and on cross-border interest and royalty payments between associated companies. Value Added Tax The standard VAT rate is 7.6%. The tax base is, generally, the consideration received from the contracting party. Taxable Year For each fiscal period only one tax return, which serves for federal, cantonal and communal taxes, must be filed. Ruling Practice Binding rulings may be obtained from the Swiss tax authorities within a few weeks. Treaty Withholding Tax Rates at a Glance For treaty countries, the rates below reflect the withholding tax rates applicable to outbound payments. A zero rate applies to royalties. Countries Dividends % Interest % Albania 5/15 (N1) 5 Algeria (N2) 5/15 (N3) 10 Argentina (N4) 10/15 (N1) 12 Armenia (N2) 5/15 (N1) 10 Azerbaijan (N11) 5/15 (N3) 10 Australia Austria 0/15 (N3) 0 Belarus 5/15 (N1) 8 Belgium 10/15 (N1) 10 Bulgaria 5/15 (N1) 10 Canada 5/15 (N5) 10 China Croatia 5/15 (N1) 5 Czech Republic 5/15 (N1) 0 Denmark 0 0 Ecuador doc 3/5

4 Egypt 5/15 (N1) 15 Estonia 5/15 (N3) 10 Finland 0/10 (N3) 0 France 0/15 (N6) 0 Germany 0/15 (N3) 0 Greece Hungary 10 0 Iceland 5/15 (N1, N7) // 15/10 (N8) 0 India Indonesia 10/15 (N1) 10 Iran 5/15 (N9) 10 Ireland 0 0 Israel 5/15 (N6) 10 Italy Ivory Coast Jamaica 10/15 (N6) 10 Japan 10/15 (N1) 10 Kazakhstan 5/15 (N6) 10 Kirgizstan 5/15 (N1) 5 Kuwait Latvia 5/15 (N3) 10 Liechtenstein - 0 (N10) Lithuania 5/15 (N3) 10 Luxemburg 0/15 (N1) 10 Macedonia 5/15 (N1) 10 Malaysia 5/15 (N1) 10 Mexico 5/15 (N1) 10/15 (N11) Moldova 5/15 (N1) 10 Mongolia 5/15 (N1) 10 Morocco 7/15 (N1) 10 Netherlands 0/15 (N1) 5 New Zealand Norway 0/15 (N3) 0 Pakistan 35 // 10/20 (N12) 0/30 (N13) Pakistan (N14) 10/20 (N3) 10 Philippines 10/15 (N6) 10 Poland 5/15 (N1) 10 Portugal 10/15 (N1) 10 Rumania Russia 5/15 (N3) 10 Serbia-Montenegro 5/15 (N3) 10 Singapore 10/15 (N1) 10 Slovakia 5/15 (N1) 10 Slovenia 5/15 (N1) 5 South Africa South Korea 10/15 (N1) 10 Spain 10/15 (N1) 10 Sri Lanka 10/15 (N1) 5/10 (N15) Sweden 0/15 (N1) 5 Thailand 10/15 (N6) 10/15 (N16) doc 4/5

5 Trinidad & Tobago 10/20 (N6) 10 Tunisia UK 5/15 (N1) 0 Ukraina 5/15 (N3) 10 USA 5/15 (N6) 0 Uzbekistan 5/15 (N3) 10 Venezuela 0/10 (N1) 5 Vietnam 7/10 // 15 (N17) 10 Notes: (1) The higher rate applies if the payment is received by a company holding directly less than 25% of the (2) Not in force yet. (3) The higher rate applies if the payment is received by a company holding directly less than 20% of the (4) Not in force yet, but has been implemented provisionally. (5) The higher rate applies if the payment is received by a company holding directly less than 10% of the stock and the voting rights of the payor company. (6) The higher rate applies if the payment is received by a company holding directly less than 10% of the (7) The 15% rate applies to the dividend payment deducted from the net profit of the payor company; in all other instances the 5% rate applies. (8) The 10% rate applies if the payee is an individual; the 15% applies to legal entities. (9) The higher rate applies if the payment is received by a company holding directly less than 15% of the (10) Applies only to real security claims. (11) The 10% rate applies to interest paid to a bank after the expiration of 5 years as of the implementation of the treaty. (12) The lower rate applies if the payee is a company holding at least 1/3 of the (13) Approved loans: limitation of Swiss withholding tax to 10% of gross interest payment. (14) Entered into force on July 13, 2007 and will be implemented as of January 1, (15) The 5% rate applies to interest on bank loans. (16) The 10% rate applies to interest paid to financial institutions. (17) The 7% rate applies if the payee is a company holding at least 50% of the The 10% rate applies if the payee is a company holding at least 25% of the stock of the payor company doc 5/5

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

Guide to Treatment of Withholding Tax Rates

Guide to Treatment of Withholding Tax Rates Guide to Treatment of Withholding Tax Rates Contents 1. Introduction 1 1.1. Aims of the Guide 1 1.2. Withholding Tax Definition 1 1.3. Double Taxation Treaties 1 1.4. Information Sources 1 1.5. Guide Upkeep

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

Luxembourg Country Profile

Luxembourg Country Profile Luxembourg Country Profile EU Tax Centre July 2015 Key tax factors for efficient cross-border business and investment involving Luxembourg EU Member State Double Tax Treaties With: Albania (a) Argentina

More information

Netherlands Country Profile

Netherlands Country Profile Netherlands Country Profile EU Tax Centre March 2012 Key factors for efficient cross-border tax planning involving Netherlands EU Member State Yes Double Tax Treaties With: Albania Czech Rep. Jordan Nigeria

More information

THE ADVANTAGES OF A UK INTERNATIONAL HOLDING COMPANY

THE ADVANTAGES OF A UK INTERNATIONAL HOLDING COMPANY THE ADVANTAGES OF A UK INTERNATIONAL HOLDING COMPANY Ideal Characteristics for the Location of an International Holding Company Laurence Binge +44 (0)1372 471117 laurence.binge@woolford.co.uk www.woolford.co.uk

More information

THE ISRAELI TAX SYSTEM. Iris Stark, CPA

THE ISRAELI TAX SYSTEM. Iris Stark, CPA THE ISRAELI TAX SYSTEM Iris Stark, CPA October 2012 THE ISRAELI TAX SYSTEM Taxation in Israel is based on an individual method. Accordingly, as of 2003, all Israeli residents are liable for payment of

More information

Non-Resident Withholding Tax Rates for Treaty Countries 1

Non-Resident Withholding Tax Rates for Treaty Countries 1 Non-Resident Withholding Tax Rates for Treaty Countries 1 firms Non-Resident Withholding Tax Rates for Treaty Countries 1 Country 2 Interest 3 Dividends 4 Royalties 5 Annuities 6 Pensions/ Algeria 15%

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

Ireland Country Profile

Ireland Country Profile Ireland Country Profile EU Tax Centre July 2015 Key tax factors for efficient cross-border business and investment involving Ireland EU Member State Yes Double Tax Treaties With: Albania Armenia Australia

More information

Other Tax Rates. Non-Resident Withholding Tax Rates for Treaty Countries. Non-Resident Withholding Tax Rates for Treaty Countries 1

Other Tax Rates. Non-Resident Withholding Tax Rates for Treaty Countries. Non-Resident Withholding Tax Rates for Treaty Countries 1 Other Tax Rates Non-Resident Withholding Tax Rates for Treaty Countries Non-Resident Withholding Tax Rates for Treaty Countries 1 Country 2 Interest 3 Dividends 4 Royalties 5 Annuities 6 Pensions/ Algeria

More information

World Consumer Income and Expenditure Patterns

World Consumer Income and Expenditure Patterns World Consumer Income and Expenditure Patterns 2014 14th edi tion Euromonitor International Ltd. 60-61 Britton Street, EC1M 5UX TableTypeID: 30010; ITtableID: 22914 Income Algeria Income Algeria Income

More information

Malta Country Profile

Malta Country Profile Malta Country Profile EU Tax Centre July 2015 Key tax factors for efficient cross-border business and investment involving Malta EU Member State Yes. Double Tax Treaties With: Albania Australia Austria

More information

ISRAEL CHEMICALS LTD (the Company ) Tax withholding on dividends paid on shares traded on the New York Stock Exchange ( NYSE )

ISRAEL CHEMICALS LTD (the Company ) Tax withholding on dividends paid on shares traded on the New York Stock Exchange ( NYSE ) January 13, 2016 ISRAEL CHEMICALS LTD (the Company ) Tax withholding on dividends paid on shares traded on the New York Stock Exchange ( NYSE ) The Company wishes to inform that it has obtained from the

More information

Norway Country Profile

Norway Country Profile Norway Country Profile Produced by Oslo Revisjon AS P.O. Box 123 Skoyen, N - 0212 Oslo, Norway Phone: +47 22 50 24 50 Fax : +47 22 50 36 80 Email: firmapost@oslorevisjon.no The intention of this profile

More information

The Company Tax System in Malta

The Company Tax System in Malta The Company Tax System in Malta Maltese companies are subject to tax at 35% Malta s tax system adopts a full imputation system Effective system for relief of double taxation Compliant with EU law Maltese

More information

Consolidated International Banking Statistics in Japan

Consolidated International Banking Statistics in Japan Total (Transfer Consolidated cross-border claims in all currencies and local claims in non-local currencies Up to and including one year Maturities Over one year up to two years Over two years Public Sector

More information

Cyprus Country Profile

Cyprus Country Profile Cyprus Country Profile EU Tax Centre July 2015 Key tax factors for efficient cross-border business and investment involving Cyprus EU Member State Yes Double Tax Treaties With: Armenia Austria Azerbaijan

More information

41 T Korea, Rep. 52.3. 42 T Netherlands 51.4. 43 T Japan 51.1. 44 E Bulgaria 51.1. 45 T Argentina 50.8. 46 T Czech Republic 50.4. 47 T Greece 50.

41 T Korea, Rep. 52.3. 42 T Netherlands 51.4. 43 T Japan 51.1. 44 E Bulgaria 51.1. 45 T Argentina 50.8. 46 T Czech Republic 50.4. 47 T Greece 50. Overall Results Climate Change Performance Index 2012 Table 1 Rank Country Score** Partial Score Tendency Trend Level Policy 1* Rank Country Score** Partial Score Tendency Trend Level Policy 21 - Egypt***

More information

Netherlands Country Profile

Netherlands Country Profile Netherlands Country Profile EU Tax Centre July 2015 Key tax factors for efficient cross-border business and investment involving Netherlands EU Member State Yes Double Tax Treaties With Albania Argentina

More information

GLOBAL INVESTMENTS IN R&D

GLOBAL INVESTMENTS IN R&D Americas North America United States Europe Asia European Union Japan Germany N.I.E. Asia China L.A.C. C.I.S. Europe C.E.O. Europe India Oceania Israel Africa Other in Asia Mexico Arab States (Africa)

More information

Malta launches patents exemption

Malta launches patents exemption Malta launches patents exemption Background The Maltese government published regulations for the application of an exemption from corporate tax on royalties (and similar income) derived from qualifying

More information

GfK PURCHASING POWER INTERNATIONAL

GfK PURCHASING POWER INTERNATIONAL GfK PURCHASING POWER INTERNATIONAL 1 Agenda 1. Europe 3 2. Americas 45 3. Asia & Near East 54 4. Afrika 66 5. Australia 68 6. Overview of countries and available levels 70 2 2 EUROPE 4 GfK

More information

Appendix 1: Full Country Rankings

Appendix 1: Full Country Rankings Appendix 1: Full Country Rankings Below please find the complete rankings of all 75 markets considered in the analysis. Rankings are broken into overall rankings and subsector rankings. Overall Renewable

More information

Taxation of Cross-Border Mergers and Acquisitions

Taxation of Cross-Border Mergers and Acquisitions KPMG INTERNATIONAL Taxation of Cross-Border Mergers and Acquisitions kpmg.com 2 : Taxation of Cross-Border Mergers and Acquisitions Introduction The (UAE) is a federation of seven Emirates: Abu Dhabi,

More information

Clinical Trials. Local Trial Requirements

Clinical Trials. Local Trial Requirements Clinical Trials Clinical trials insurance covers the legal liabilities of the insured in respect of clinical trials for bodily injury arising from the trial. The coverage provided by Newline is on the

More information

AVIATION FINANCE THE IRISH SECTION 110 REGIME

AVIATION FINANCE THE IRISH SECTION 110 REGIME AVIATION FINANCE THE IRISH SECTION 110 REGIME Ireland - A Leading Aviation Jurisdiction Ireland is one of the leading locations in the world for all forms of aircraft finance and leasing activities. This

More information

MIT U.S. Income Tax Presentation Non US Resident Students

MIT U.S. Income Tax Presentation Non US Resident Students MIT U.S. Income Tax Presentation Non US Resident Students PwC Boston Nabih Daaboul Carol McNeil Rich Wagman 1 Basic U.S. Tax Overview for International Students A foreign national is a person born outside

More information

Gap Banana Republic Old Navy Athleta Intermix. Stores Online (countries) Stores Online (countries) Stores Online (countries) Stores Franchise Stores

Gap Banana Republic Old Navy Athleta Intermix. Stores Online (countries) Stores Online (countries) Stores Online (countries) Stores Franchise Stores Gap Inc.'s Global Footprint As of the end of Q3 2016, Gap Inc. had 3,742 company operated or franchised stores in operation across 50 countries and our global brands have the ability to ship online orders

More information

Dividends Tax: Summary of withholding tax rates per South African Double Taxation Agreements currently in force Version: 2 Updated: 2012-05-22

Dividends Tax: Summary of withholding tax rates per South African Double Taxation Agreements currently in force Version: 2 Updated: 2012-05-22 Dividends Tax: Summary of withholding tax rates per South African Double Taxation Agreements currently in force Version: 2 Updated: 2012-05-22 Note: A summary of the rates and the relevant provisions relating

More information

Waterpark Lines World Report

Waterpark Lines World Report Brochure More information from http://www.researchandmarkets.com/reports/1837057/ Waterpark Lines World Report Description: This report provides Market Consumption/Products/Services for 100 countries by

More information

H 1B ALTERNATIVES. CIS exhausted the full quota of 65,000 bachelor s degree H 1B s the first

H 1B ALTERNATIVES. CIS exhausted the full quota of 65,000 bachelor s degree H 1B s the first Mark B. Rhoads Helen L. Konrad Direct Dial:804.775.3824 Direct Dial: 804.775.3825 Facsimile: 804.249.9595 Facsimile: 804.249.9595 E Mail: mrhoads@lawmh.com E Mail: hkonrad@lawmh.com Practice Limited to

More information

Bangladesh Visa fees for foreign nationals

Bangladesh Visa fees for foreign nationals Bangladesh Visa fees for foreign nationals No. All fees in US $ 1. Afghanistan 5.00 5.00 10.00 2. Albania 2.00 2.00 3.00 3. Algeria 1.00 1.00 2.00 4. Angola 11.00 11.00 22.00 5. Argentina 21.00 21.00 42.00

More information

Dutch/Canadian tax treaty comparison, 2013

Dutch/Canadian tax treaty comparison, 2013 Dutch/Canadian tax treaty comparison, 2013 Hendrik van Duijn DTS Duijn's Tax Solutions Zuidplein 36 (WTC Tower H) 1077 XV Amsterdam T +31 888 387 669 T +31 888 DTS NOW F +31 88 8 387 601 duijn@duijntax.com

More information

International Recruitment vs. National Recruitment. Rolf Heeb. AIMS International

International Recruitment vs. National Recruitment. Rolf Heeb. AIMS International International Recruitment vs. National Recruitment Rolf Heeb AIMS International CONTENT 1. Introduction 2. Definitions 3. Considerations in International Recruitment 4. Global Executive Search Firms 5.

More information

FDI performance and potential rankings. Astrit Sulstarova Division on Investment and Enterprise UNCTAD

FDI performance and potential rankings. Astrit Sulstarova Division on Investment and Enterprise UNCTAD FDI performance and potential rankings Astrit Sulstarova Division on Investment and Enterprise UNCTAD FDI perfomance index The Inward FDI Performance Index ranks countries by the FDI they receive relative

More information

TRANSFERS FROM AN OVERSEAS PENSION SCHEME

TRANSFERS FROM AN OVERSEAS PENSION SCHEME PENSIONS PROFILE DECEMBER 2011 TRANSFERS FROM AN OVERSEAS PENSION SCHEME = Summary A simplified guide to the process: 1. Individual requests transfer from their overseas pension scheme to their UK registered

More information

Introducing Clinical Trials Insurance Services Ltd

Introducing Clinical Trials Insurance Services Ltd Introducing Clinical Trials Insurance Services Ltd Important Staff Richard Kelly Managing Director Richard joined CTIS in 2006 having previously managed the Pharmaceutical wholesale division at Heath Lambert

More information

Total Domestic Factoring FCI 594, , , , , , , %

Total Domestic Factoring FCI 594, , , , , , , % Accumulative Turnover Figures for All FCI Members Compared to Worldwide Factoring Turnover (in Millions of EUR and USD) EUR EUR EUR EUR EUR EUR EUR INCREASE 2006 2007 2008 2009 2010 2011 2012 2011/2012

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

International Financial Reporting Standards

International Financial Reporting Standards International Financial Reporting Standards Of Growing Importance for U.S. Companies Assurance Services there is no longer a choice Three factors may influence your need to consider IFRS. First, many organizations

More information

ORBITAX ESSENTIAL INTERNATIONAL TAX SOLUTIONS

ORBITAX ESSENTIAL INTERNATIONAL TAX SOLUTIONS REUTERS/Jo Yong-Hak ORBITAX ESSENTIAL INTERNATIONAL TAX SOLUTIONS ALIGN AND STREAMLINE YOUR TAX PLANNING WORKFLOW FOR CROSS-BORDER TRANSACTIONS ACROSS MULTINATIONAL ENTITIES ALIGN YOUR GLOBAL TAX UNIVERSE

More information

MALTA TRADING COMPANIES IN MALTA

MALTA TRADING COMPANIES IN MALTA MALTA TRADING COMPANIES IN MALTA Trading companies in Malta 1. An effective jurisdiction for international trading operations 410.000 MALTA GMT +1 Located in the heart of the Mediterranean, Malta has always

More information

Facts about German foreign trade in 2012*

Facts about German foreign trade in 2012* Facts about German foreign trade in 2012* Foreign trade figures in 2012 Exports Imports Net foreign demand Total Goods Services Total Goods Services Total memorandum items billion EUR In relation to EU

More information

Transfer Pricing. ICPAK Tax Training. April 2016

Transfer Pricing. ICPAK Tax Training. April 2016 Transfer Pricing ICPAK Tax Training April 2016 Presentation Outline 1 2 3 4 5 6 Introduction to transfer pricing TP methods and comparables Documentation Advance Pricing Agreements Emerging issues Q &

More information

Contact Centers Worldwide

Contact Centers Worldwide A Contact Centers Worldwide Country Tel.no. Supported lang. Contact Center Albania Algeria 852 665 00 +46 10 71 66160 Angola 89900 +34 91 339 2121 (Port) and Portuguese +34 913394044 +34 913394023 (Por)

More information

Global Effective Tax Rates

Global Effective Tax Rates www.pwc.com/us/nes Global s Global s April 14, 2011 This document has been prepared pursuant to an engagement between PwC and its Client. As to all other parties, it is for general information purposes

More information

International Call Services

International Call Services International Call Services Affordable rates for business calls. Wherever you are in the world. We ve got plenty to say when it comes to staying in touch when you re overseas. We have agreements with 443

More information

Know the Facts. Aon Hewitt Country Profiles can help: Support a decision to establish or not establish operations in a specific country.

Know the Facts. Aon Hewitt Country Profiles can help: Support a decision to establish or not establish operations in a specific country. Aon Hewitt Country Profiles Your eguide to employment requirements and practices Profiles for nearly 90 countries worldwide Risk. Reinsurance. Human Resources. Know the Facts Whether you are a newcomer

More information

Global Dialing Comment. Telephone Type. AT&T Direct Number. Access Type. Dial-In Number. Country. Albania Toll-Free 00-800-0010 888-426-6840

Global Dialing Comment. Telephone Type. AT&T Direct Number. Access Type. Dial-In Number. Country. Albania Toll-Free 00-800-0010 888-426-6840 Below is a list of Global Access Numbers, in order by country. If a Country has an AT&T Direct Number, the audio conference requires two-stage dialing. First, dial the AT&T Direct Number. Second, dial

More information

Cisco Global Cloud Index Supplement: Cloud Readiness Regional Details

Cisco Global Cloud Index Supplement: Cloud Readiness Regional Details White Paper Cisco Global Cloud Index Supplement: Cloud Readiness Regional Details What You Will Learn The Cisco Global Cloud Index is an ongoing effort to forecast the growth of global data center and

More information

The investment fund statistics

The investment fund statistics The investment fund statistics Narodowy Bank Polski (NBP) publishes data reported by investment funds which have been defined in Art. 3 section 1 of the Act of 27 May 2004 on investment funds (Journal

More information

7.3. Cannabis: Wholesale, street prices and purity levels

7.3. Cannabis: Wholesale, street prices and purity levels 7.3. Cannabis: Wholesale, street prices and purity levels CANNABIS HERB East Eritrea 4.0 3.0-5.0 2003 1,100.0 1,000.0-1,200.0 1.0-5.0 2003 Kenya 0.2 0.1-0.3 2003 99.0 70.0-130.0 2003 Madagascar 1.3 1.1-1.4

More information

Raveh Ravid & Co. CPA. November 2015

Raveh Ravid & Co. CPA. November 2015 Raveh Ravid & Co. CPA November 2015 About Us Established in 1986 by Abir Raveh, CPA & Itzhak Ravid, CPA 6 Partners, 80 employees Located in Tel Aviv, Israel wide range of professional services highly experienced

More information

MAUVE GROUP GLOBAL EMPLOYMENT SOLUTIONS PORTFOLIO

MAUVE GROUP GLOBAL EMPLOYMENT SOLUTIONS PORTFOLIO MAUVE GROUP GLOBAL SOLUTIONS PORTFOLIO At Mauve Group, we offer a variety of complete employee management services such as Global Employment Solutions (GES), Professional Employment Outsourcing (PEO),

More information

Tble Home Team Visiting Team Home Team Visiting Team Home Team Visiting Team. Open Qualification Group A. 1st Round 2nd Round 3rd Round

Tble Home Team Visiting Team Home Team Visiting Team Home Team Visiting Team. Open Qualification Group A. 1st Round 2nd Round 3rd Round Open Qualification Group A 14th WORLD BRIDGE GAMES OPEN SERIES Group A 1 Netherlands Mexico Chile Netherlands Netherlands Denmark 2 Saudi Arabia Bosnia & Hrzna Switzerland Jordan Spain Germany 3 Korea

More information

EUROPEAN COMMISSION DIRECTORATE-GENERAL FOR EDUCATION AND CULTURE

EUROPEAN COMMISSION DIRECTORATE-GENERAL FOR EDUCATION AND CULTURE EUROPEAN COMMISSION DIRECTORATE-GENERAL FOR EDUCATION AND CULTURE Higher education and international affairs International cooperation and programmes; Jean Monnet Brussels, October 2014 MANAGING INTERNATIONAL

More information

Sulfuric Acid 2013 World Market Outlook and Forecast up to 2017

Sulfuric Acid 2013 World Market Outlook and Forecast up to 2017 Brochure More information from http://www.researchandmarkets.com/reports/2547547/ Sulfuric Acid 2013 World Market Outlook and Forecast up to 2017 Description: Sulfuric Acid 2013 World Market Outlook and

More information

S ESHWAR CONSULTANTS HOUSE OF CORPORATE & IPR LAWS 37/57, 53 rd Street, 9 th Avenue, Ashok Nagar, Chennai , India

S ESHWAR CONSULTANTS HOUSE OF CORPORATE & IPR LAWS 37/57, 53 rd Street, 9 th Avenue, Ashok Nagar, Chennai , India NEWSLETTER ON INTERNATIONAL REGISTRATION OF TRADEMARKS UNDER THE MADRID SYSTEM S ESHWAR CONSULTANTS HOUSE OF CORPORATE & IPR LAWS 37/57, 53 rd Street, 9 th Avenue, Ashok Nagar, Chennai 600083, India Contact

More information

Perrigo Company Acquisition of Elan Corporation plc Exchange of Perrigo common shares Frequently Asked Questions & Answers

Perrigo Company Acquisition of Elan Corporation plc Exchange of Perrigo common shares Frequently Asked Questions & Answers Perrigo Company Acquisition of Elan Corporation plc Exchange of Perrigo common shares Frequently Asked Questions & Answers On November 18, 2013, Perrigo Company ( Perrigo ) announced that its shareholders

More information

Reporting practices for domestic and total debt securities

Reporting practices for domestic and total debt securities Last updated: 4 September 2015 Reporting practices for domestic and total debt securities While the BIS debt securities statistics are in principle harmonised with the recommendations in the Handbook on

More information

Foreign Taxes Paid and Foreign Source Income INTECH Global Income Managed Volatility Fund

Foreign Taxes Paid and Foreign Source Income INTECH Global Income Managed Volatility Fund Income INTECH Global Income Managed Volatility Fund Australia 0.0066 0.0375 Austria 0.0045 0.0014 Belgium 0.0461 0.0138 Bermuda 0.0000 0.0059 Canada 0.0919 0.0275 Cayman Islands 0.0000 0.0044 China 0.0000

More information

FACT SHEET. Gini Coefficient

FACT SHEET. Gini Coefficient FACT SHEET 1. Overview 1.1 Developed by an Italian statistician Corrado in the 1910s, is commonly used to indicate income inequality in a society. is a number which has a value between zero and one. As

More information

Managing payments from and to Latin America: Reducing your company's tax burden

Managing payments from and to Latin America: Reducing your company's tax burden Managing payments from and to Latin America: Reducing your company's tax burden Latin America 2010: Proactive Strategies for Doing Business in Today's Changing Landscape Miami, Florida March 17, 2010 Why

More information

Indonesia Tax Profile

Indonesia Tax Profile Indonesia Tax Profile Produced in conjunction with the KPMG Asia Pacific Tax Centre Updated: November 2013 Contents 1 Corporate Income Tax 3 2 International Treaties for the Avoidance of Double Taxation

More information

UPDATE ON NON-RESIDENT INVESTMENT IN CANADIAN REAL ESTATE

UPDATE ON NON-RESIDENT INVESTMENT IN CANADIAN REAL ESTATE Page 1 of 9 UPDATE ON NON-RESIDENT INVESTMENT IN CANADIAN REAL ESTATE Jack Bernstein Aird & Berlis LLP Toronto, Canada To be submitted for publication in Tax Notes International, 2015 The stable Canadian

More information

U.S. Salary Increase Survey Highlights

U.S. Salary Increase Survey Highlights Consulting Performance, Reward & Talent 2012 2013 U.S. Salary Increase Survey Highlights We ask each participating company to treat these survey findings with the greatest confidence. The findings are

More information

Passport for Financial Lines

Passport for Financial Lines Passport for Financial Lines Established markets already have layers of constantly-shifting regulations, emerging economies are introducing new risks and challenges. Multinationals must be well equipped

More information

KINGDOM OF CAMBODIA NATION RELIGION KING 3

KINGDOM OF CAMBODIA NATION RELIGION KING 3 KINGDOM OF CAMBODIA NATION RELIGION KING 3 TOURISM STATISTICS REPORT February 2016 MINISTRY OF TOURISM Statistics and Tourism Information Department No. A3, Street 169, Sangkat Veal Vong, Khan 7 Makara,

More information

Tax Card 2013 With effect from 1 January 2013 Lithuania. KPMG Baltics, UAB

Tax Card 2013 With effect from 1 January 2013 Lithuania. KPMG Baltics, UAB Tax Card 2013 With effect from 1 January 2013 Lithuania KPMG Baltics, UAB CORPORATE INCOME TAX Taxable profit of Lithuanian and foreign corporate taxpayers is subject to a standard (flat) rate of 15%.

More information

International Mains Voltages Edition 01/97

International Mains Voltages Edition 01/97 International Mains Voltages Edition 01/97 0921 271X / 0197 The international low voltages used in industry, business and domestically. Listed in continents and countries. Status April 1996 The following

More information

Sources of Global CO 2 Emissions ( , Direct Emissions by Sector Only) Intergovernmental Panel on Climate Change (IPCC)

Sources of Global CO 2 Emissions ( , Direct Emissions by Sector Only) Intergovernmental Panel on Climate Change (IPCC) "World energy consumption" by Construct - BP Statistical Review of World Energy 2015 Sources of Global CO 2 Emissions (1970-2004, Direct Emissions by Sector Only) Intergovernmental Panel on Climate Change

More information

Starting a Business in Israel

Starting a Business in Israel Starting a Business in Israel Inspiration Invention Innovation Content: Page 1. Business Entities....... 2 a. Company...... 2 b. Foreign Company (e.g. a branch)...... 2 c. Partnership...... 3 d. Self Employed......

More information

FDI IN FIGURES. April 2013

FDI IN FIGURES. April 2013 97 98 99 1 2 3 4 5 6 7 8 9 1 11 12 97 98 99 1 2 3 4 5 6 7 8 9 1 11 12 p p FDI IN FIGURES April 213 According to preliminary estimates, global FDI flows have declined in 212 by 14% from 211 to USD 1.4 trillion

More information

Taxation in the Pharmaceutical Industry

Taxation in the Pharmaceutical Industry Industry Issue Report: Taxation in the Pharmaceutical Industry In this report, we examine the effects of taxation on the pharmaceutical industry in the United States compared to other OECD countries, using

More information

MALTA TRADING COMPANIES

MALTA TRADING COMPANIES MALTA TRADING COMPANIES Malta Trading Companies Maltese Registered Companies and Trading Operations in Malta Malta, an EU Member State since May 2004, has developed into a leading and reputable financial

More information

Status of ratification of the United Nations Convention against Corruption as at 30 September 2011

Status of ratification of the United Nations Convention against Corruption as at 30 September 2011 3 October 2011 English only Conference of the States Parties to the United Nations Convention against Corruption Fourth session Marrakech, Morocco, 24-28 October 2011 Agenda item 2 of the provisional agenda

More information

The 2016 World Forecasts of Aluminum Doors, Windows, Door Thresholds, and Window Frames Export Supplies

The 2016 World Forecasts of Aluminum Doors, Windows, Door Thresholds, and Window Frames Export Supplies Brochure More information from http://www.researchandmarkets.com/reports/3279121/ The 2016 World Forecasts of Aluminum Doors, Windows, Door Thresholds, and Window Frames Export Supplies Description: This

More information

REUTERS/Jo Yong-Hak ESSENTIAL INTERNATIONAL TAX SOLUTIONS POWERED BY ORBITAX

REUTERS/Jo Yong-Hak ESSENTIAL INTERNATIONAL TAX SOLUTIONS POWERED BY ORBITAX REUTERS/Jo Yong-Hak ESSENTIAL INTERNATIONAL TAX SOLUTIONS POWERED BY ORBITAX A CENTRAL INTERNATIONAL TAX DASHBOARD FOR YOUR GLOBAL ENTERPRISE Now for the first time, you can access all the international

More information

GOLD COMPETENCY REVENUE GUIDELINES

GOLD COMPETENCY REVENUE GUIDELINES GOLD COMPETENCY REVENUE GUIDELINES Table of Contents MICROSOFT GOLD COMPETENCY REVENUE GUIDELINES UPDATE... 1 We Are All About Partners... 2 What we offer: rich benefits for gold competency partners...

More information

PORTABILITY OF SOCIAL SECURITY AND HEALTH CARE BENEFITS IN THE UNITED KINGDOM

PORTABILITY OF SOCIAL SECURITY AND HEALTH CARE BENEFITS IN THE UNITED KINGDOM PORTABILITY OF SOCIAL SECURITY AND HEALTH CARE BENEFITS IN THE UNITED KINGDOM Johanna Avato Human Development Network Social Protection and Labor The World Bank Background study March 2008 The UK Social

More information

Number of retail outlets Number of retail outlets

Number of retail outlets Number of retail outlets Number 65708 of retail outlets Number of retail outlets Number of retail outlets Trends in total number of retail outlets 2002-2007 number / as stated number per million Table 2.3 % growth inhabitants

More information

EMEA BENEFITS BENCHMARKING OFFERING

EMEA BENEFITS BENCHMARKING OFFERING EMEA BENEFITS BENCHMARKING OFFERING COVERED COUNTRIES SWEDEN FINLAND NORWAY ESTONIA R U S S I A DENMARK LITHUANIA LATVIA IRELAND PORTUGAL U. K. NETHERLANDS POLAND BELARUS GERMANY BELGIUM CZECH REP. UKRAINE

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

www.fidfinvest.com Taxation in United Arab Emirates

www.fidfinvest.com Taxation in United Arab Emirates Taxation in United Arab Emirates The United Arab Emirates (UAE) is located on the southern coast of the Arabian Gulf and is a Federation of seven emirates, Abu Dhabi, Dubai, Sharjah, Ajman, Umm Al Quwain,

More information

Audio Conferencing Service Comprehensive Telecommunications Services Group Number 77017 Award Number 20268 Contract Number PS63110

Audio Conferencing Service Comprehensive Telecommunications Services Group Number 77017 Award Number 20268 Contract Number PS63110 Audio Conferencing Comprehensive Telecommunications s Number PS63110 Audio Conferencing, Function or Device Reservationless Conferencing Solution Setup Meeting Center Multimedia Minute - Self-, Automated

More information

International Higher Education in Facts and Figures. Autumn 2013

International Higher Education in Facts and Figures. Autumn 2013 International Higher Education in Facts and Figures Autumn 2013 UK Higher Education International Unit International higher education in facts and figures covers the majority of the UK higher education

More information

Composition of Premium in Life and Non-life Insurance Segments

Composition of Premium in Life and Non-life Insurance Segments 2012 2nd International Conference on Computer and Software Modeling (ICCSM 2012) IPCSIT vol. 54 (2012) (2012) IACSIT Press, Singapore DOI: 10.7763/IPCSIT.2012.V54.16 Composition of Premium in Life and

More information

Senate Committee: Education and Employment. QUESTION ON NOTICE Budget Estimates 2015-2016

Senate Committee: Education and Employment. QUESTION ON NOTICE Budget Estimates 2015-2016 Senate Committee: Education and Employment QUESTION ON NOTICE Budget Estimates 2015-2016 Outcome: Higher Education Research and International Department of Education and Training Question No. SQ15-000549

More information

Ninth United Nations Survey of Crime Trends and Operations of Criminal Justice Systems POLICE

Ninth United Nations Survey of Crime Trends and Operations of Criminal Justice Systems POLICE Indicators as defined by the (- ) POLICE 2. Crimes recorded in criminal (police) statistics, by type of crime including attempts to commit crimes 2.2 Total recorded intentional homicide, completed (c)

More information

Trade Finance and Supply Chain Finance Awards 2017

Trade Finance and Supply Chain Finance Awards 2017 In February 2017, Global Finance will publish its annual selections for the World s Best Trade Finance and Supply Chain Finance Providers. Global Finance will name the best trade finance providers in 83

More information

Tax Card 2016. KPMG in Bulgaria. kpmg.com/bg

Tax Card 2016. KPMG in Bulgaria. kpmg.com/bg Tax Card 2016 KPMG in Bulgaria kpmg.com/bg CORPORATE TAX Corporate income tax (CIT) is due on the accounting profit after adjustments for tax purposes. The applicable tax rate for the year 2016 is 10%.

More information

Region Country AT&T Direct Access Code(s) HelpLine Number. Telstra: 1 800 881 011 Optus: 1 800 551 155

Region Country AT&T Direct Access Code(s) HelpLine Number. Telstra: 1 800 881 011 Optus: 1 800 551 155 Mondelēz International HelpLine Numbers March 22, 2013 There are many ways to report a concern or suspected misconduct, including discussing it with your supervisor, your supervisor s supervisor, another

More information

INTERNATIONAL TRADEMARK REGISTRATION UNDER THE MADRID PROTOCOL

INTERNATIONAL TRADEMARK REGISTRATION UNDER THE MADRID PROTOCOL INTERNATIONAL TRADEMARK REGISTRATION UNDER THE MADRID PROTOCOL Presented to The American Bar Association Spring Meeting Washington, D.C., April 24, 2013 Bruce Alexander McDonald BUCHANAN INGERSOLL & ROONEY

More information

MAUVE GROUP GLOBAL EMPLOYMENT SOLUTIONS PORTFOLIO

MAUVE GROUP GLOBAL EMPLOYMENT SOLUTIONS PORTFOLIO MAUVE GROUP GLOBAL SOLUTIONS PORTFOLIO At Mauve Group, we offer a variety of complete employee management services such as Global Employment Solutions (GES), Professional Employment Outsourcing (PEO),

More information

Switzerland Tax Guide

Switzerland Tax Guide Tax Guide 2013 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?

More information

List of tables. I. World Trade Developments

List of tables. I. World Trade Developments List of tables I. World Trade Developments 1. Overview Table I.1 Growth in the volume of world merchandise exports and production, 2010-2014 39 Table I.2 Growth in the volume of world merchandise trade

More information

Triple-play subscriptions to rocket to 400 mil.

Triple-play subscriptions to rocket to 400 mil. Triple-play criptions to rocket to 400 mil. Global triple-play criptions will reach 400 million by 2017; up by nearly 300 million on the end-2011 total and up by 380 million on the 2007 total, according

More information

Withholding Tax Rates 2015*

Withholding Tax Rates 2015* Withholding Tax Rates 2015* International Tax Updated March 2015 Jurisdiction Dividends Interest Royalties Notes Afghanistan 20% 20% 20% Albania 15% 15% 15% Rates on dividends, interest and royalties increased

More information

Evolution of Territorial Tax Systems in the OECD

Evolution of Territorial Tax Systems in the OECD www.pwc.com/us/nes Evolution of Territorial Tax Systems in the OECD Evolution of Territorial Tax Systems in the OECD April 2, 203 Prepared for The Technology CEO Council Evolution of Territorial Tax Systems

More information