Michael Glünz’s Post

It is that season again when tax proposals are tabled for discussion and eventually pass them into law. Among the proposed tax amendments is one proposing to amend Section 90 of the Income Tax Act to require persons to submit transfer pricing information at the point of filing their annual income tax returns. URA has for the past years built capacity of their teams in their International Tax Unit to handle such increased focus on cross-boarder transactions.

Uncover the significance of filing your individual income tax return on time in Korea, the consequences of late submission, and the role of the National Tax Service

Central Goods and Services Tax (Second Amendment) Rules, 2023 #CBIC #GST #GSTCouncilMeeting #goods #services #Rules #Tax #taxpayers #registration #UPDATE

What is Dhareeba System? It’s an electronic system that connects the General Tax Authority and its partners from the relevant government agencies and taxpayers. It automatically calculates and process the various types of tax to assist taxpayers in managing their tax transactions, in accordance with the Qatari tax laws. ##newbusinessopportunities##companyformationqatar###

The German Court in Munster handed down its ruling quashing the determination of the German Tax Adminustration in a case that involved the operation of CFC rules. In brief, the German Tax Administation included in the tax base of the German parent entity the profits (comprising interest from lending activity) of its low taxed Belgium subsidiary citing that the profits constituted passive income for the purpose of the German CFC Law. The Court invoked the rebuttal/ counterevidence rules for dissaplying the taxation under the CFC rules. The rebutal rules built on the CJEU ruling on Cadbury that confined the national CFC rules scope to artificial entities. The Court grounded its decision by citing that the subsidiary had premises, equpments, personnel, in Belgium therefore undertaking business activity and the German Tax Administration show no evidence that the subsidiary was interposed artificially. #tax #cfc #taxcourt #antitaxavoidance #directtax https://lnkd.in/dCZ9uE5G

Mallet Ephraim Ameworlor discusses how to stay compliant in this insightful article. Have a good read and reach out if you want to discuss further.

LCI Updates: The Directorate General of Taxation (DGT) issued Regulation of the Director General of Taxation Number PER-2/PJ/2024 regarding Forms and Procedures for the Preparation of Proof of Article 21 and/or Article 26 Income Tax Withholding as well as Forms, Contents, Procedures for Completion, and Procedures for Submission of Article 21 and/or Article 26 Periodic Income Tax Return (Perdirjen Pajak PER-2/PJ/2024). https://lnkd.in/gefx4-SU #tax #legalcentric

Breaking news! The European Commission has adopted yesterday new rules to modernise withholding tax (WHT) reclaim procedures within the European Union. The new EU system for the avoidance of double taxation and prevention of tax abuse in the field of withholding taxes, so-called FASTER (Faster and Safer Tax Excess Relief), aims to tackle situations whereby refund procedures for WHT paid on cross-border dividends and/or interest appear to be cumbersome and non-user friendly. An exciting new chapter is coming for operational taxes!

Ever heard the saying, “the best tax planning measure is compliance"? Read this insightful article on how taxpayers can reduce risk and exposure through tax compliance and the best measures to comply with Ghana’s tax laws in order to reduce the risk of imposition of penalties. Visit https://deloi.tt/40ECP26 to learn more. #Deloitteghana #taxathand #thoughtleadership

A really concise article, touches on key corporate tax obligation issues. Not a very long read but speaks volumes