The Hollywood Reporter’s Post

INTERNATIONAL TAX PLAZA - Estonia once again blocked the ECOFIN Council to come to a political agreement on the VIDA package On June 27, 2024 the Dutch Minister of Finance sent the Dutch Parliament a report/summary of the meeting of the Economic and Financial Affairs (ECOFIN) Council that took place on June 21, 2024. This summary once againn gives an interesting insight in the discussions that took place regarding the value added tax (VAT) in the digital age (VIDA) package. https://lnkd.in/eBCUB3Dt

A great article - on too many occasions when advising companies on potential sales or refinancing we identify significant unpaid overseas tax liabilities which create an unexpected obstacle to be worked around. Taking some time to understand the impact of doing work in another territory is hugely valuable

Very happy to have contributed to adding another brick to the Capital Markets Union building. Faster and more efficient #withholdingtax procedures will reduce costs for investors and create more incentives for investor participation and diversification, as well as contribute to greater financial integration and a more efficient EU #SingleMarket. European Commission EU Economy and Finance

A decree published in Mexico’s official gazette on 11 October 2023 provides tax incentives to taxpayers in key sectors of the export industry and aims to encourage such taxpayers to relocate part of their productive activities to areas near the markets in which they operate, a strategy known as “nearshoring.” The incentives are also available to taxpayers in key sectors of the cinematographic and audiovisual industry, to promote “creative exports.” The incentives include an immediate deduction for a percentage of qualifying investments in new fixed assets, and an additional deduction for certain training expenses. The decree is effective as from 12 October 2023 and the immediate deduction is available for qualifying investments in new fixed assets acquired from 12 October 2023 through 31 December 2024.

#Germany will incorporate #EU list of non-cooperative jurisdictions for tax purposes into national law On 14 February 2023, the Council of the EU (Council) updated the EU list of non-cooperative jurisdictions for tax purposes and added #BritishVirginIslands, #CostaRica, #MarshallIslands and #Russia to the Annex I (the so-called blacklist) of the EU List. With these additions, the list now consists of 16 jurisdictions: American Samoa, Anguilla, Bahamas, British Virgin Islands, Costa Rica, Fiji, Guam, Marshall Islands, Palau, Panama, Russia, Samoa, Trinidad and Tobago, Turks and Caicos Islands, US Virgin Islands and Vanuatu. Assuming that the German Federal Government will incorporate these amendments into the domestic Tax Haven Defense Act Regulations by the end of 2023, this would trigger German tax consequences for business relationships with these jurisdictions as of 2024. Among others, these would include aggravated controlled foreign company (#CFC) rules, an extension of nonresident tax liability, denial of treaty benefits as well as increased obligations to cooperate. Moreover, an increased taxation of dividends and capital gains and a denial of the deduction for operating costs would apply.

The National Assembly of the Republic of Serbia has adopted amendments to the Law on Fees for the Use of Public Goods, introducing new provisions related to the eco-tax, effective from January 1, 2024. 📅   ✅The new deadline for eco-tax applications: You are now required to submit your eco-tax application to the competent local government authority by April 30 of each year, a deadline shortened from the previous July 31.   ✅ A new method of eco-tax payment: The eco-tax is now payable quarterly, proportionally to the number of days in the quarter. The payment obligation is due within 15 days after the end of each quarter. Until you receive the current year's eco-tax amount, make monthly advance payments based on last year's obligation.   ✅Branch of a foreign legal entity as a taxpayer: Among the taxpayers for the eco-tax are now branches of foreign legal entities.   🔍Please get in touch with us for more details on how these changes may affect your business!   Stay informed about all tax obligations with CONFIDA Serbia.   #Confida #ConfidaSerbia #EcoTax

Have you considered the compliance obligations placed on you and your employees when working in Norway? If you haven’t then you might not know that UK residents are liable to Norwegian Income Tax from the first day of work offshore on the Norwegian Continental Shelf. Before setting up in Norway it’s important to consider the compliance obligations that will be placed on you. Carol Sim explores the obligations to think about before operating in Norway in today’s article: https://lnkd.in/etsuvYci

On 24 June 2024, the General Secretariat of the European Council published an ECOFIN report on tax matters. The report outlines some to the progress achieve during the Belgian Presidency on the tax arena, including some major Directives such as FASTR, Unshell, BEFIT of the Transfer Pricing Directive. The report outlines the agreement reached on 14 May regarding FASTER and the political agreement reached within the European council. With regard to Unshell, the report outline that the Directive is under negotiation with several changes and that further political discussion will require a "new approach". As for BEFIT and the Transfer Pricing Directive, it is expected that the political discussion will move forward in the coming months during the Hungarian Presidency.

Warning for NZer's looking to acquire property in NSW: "In broad terms, the Act seeks to overcome the non-discrimination articles in Australia’s double tax treaties with ... New Zealand ... to confirm that the state and territory stamp duty and land tax foreign surcharges, and federal foreign investment fees, are lawfully imposed on foreign investors." #legislation #propertytax #discrimination #nondiscimination

INTERNATIONAL TAX PLAZA - A high-level overview of some intended policy changes of the new Dutch Government that might impact businesses As you might know on November 22, 2023 elections for the House of Representatives were held in The Netherlands. In the night from May 15 to May 16 2024 the political parties PVV, VVD, NSC and BBB came to a coalition agreement, titled: “Hope, guts and pride”, and agreed to form a so-called extra-parliamentary cabinet. Unusual for the Netherlands the coalition agreement only contains the policies the new Dutch coalition intends to implement in a high-level manner instead of going into detail as we have been used to see in coalition agreements that former Dutch coalitions have drafted. The policies that new coalition intends to introduce might also directly or indirectly impact companies that do business in the Netherlands. A few of these intended policies we will mention below. Our list does not include an overview all the intended policies and does not solely include policies in the area off taxes. https://lnkd.in/eYfMP9R4