UPDATES

Tuesday, 12 June 2018 08:24

UAE joins Inclusive Framework on BEPS

The OECD/G20 Inclusive Framework on Base Erosion and Profit Shifting (BEPS) and its 108 members tackles tax avoidance by ensuring the implementation of the measures agreed through the BEPS Project, which targets multinational enterprises’ aggressive tax planning practices. In particular, four “minimum standards” are at the core of the BEPS measures: harmful tax practices, treaty abuse, country-by-country reporting and dispute resolution mechanisms.

Tuesday, 29 May 2018 11:08

Research and Development: Tax Credits Relief

UK: Research and Development (R&D) Tax Credits are a UK tax incentive designed to encourage companies to invest in R&D. It can even be claimed on unsuccessful projects.
Companies can REDUCE CORPORATION TAX or CLAIM PAYABLE CASH CREDITS as a proportion of their R&D expenditure.

Tuesday, 22 May 2018 07:38

Singapore FinTech Festival 2018: focus on ASEAN and AI

SINGAPORE: Financial Technology is transforming financial services in a way not seen before: mobility, connectivity, digital payments, blockchains, big data… are just few of the new FinTech challenges and possibilities.

Tuesday, 15 May 2018 11:50

Singapore and Vietnam cooperation to facilitate business opportunities

SINGAPORE: Singapore and Vietnam have signed a set of Memoranda of Understanding (MOU) to work together in different areas, from financial to renewable energy industry, through environmental protection and trade rules.

Thursday, 26 April 2018 10:19

Clarification about the Chinese VAT new rules

CHINA: Within 2018, the Chinese government tax legislation will be implemented to encourage more innovation and reduce the tax burden of smaller companies.
The new legislation has been considered from many to implement the whole system of taxation with the goal of opening up and develop the country's legislation in order to meet fast growing needs of Citizens.

Monday, 23 April 2018 10:33

Ratification of the EU-Singapore FTA is moving forward

The Free Trade Agreement between European Union and Singapore (EUSFTA) will soon be approved by the Council of Ministers and ratified by the European Parliament. The aim is for the EUSFTA to come into force before the European Commission's mandate ends in 2019.

Tuesday, 03 April 2018 11:32

Hong Kong implements the two-tiered profits tax rates regime

On March 29 2018, Hong Kong’s Legislative Council passed Inland Revenue (Amendment) (No. 3) Ordinance 2018 (the Ordinance) to implement the two-tiered profits tax rates regime announced in the 2017 Policy Address.

The two-tiered profits tax rates regime will be applicable to any year of assessment commencing on or after April 1, 2018. The profits tax rate for the first $2 million of profits of corporations will be lowered to 8.25 per cent. Profits above that amount will continue to be subject to the tax rate of 16.5 per cent. For unincorporated businesses (i.e. partnerships and sole proprietorships), the two-tiered tax rates will correspondingly be set at 7.5 per cent and 15 per centA tax-paying corporation or unincorporated business may save up to $165,000 and $150,000 each year respectively.

Wednesday, 10 January 2018 13:36

The 20 Designated Zones in the UAE that benefit Special VAT Application

Yesterday, the Federal Tax Authority published a new Cabinet Decision No.(59) with the List of all the Designated Zones in UAE which are following special rules for VAT application.

Article (51) of the Federal Decree-Law No. (8) of 2017 on Value Added Tax specifies that transfer of goods between designated zones is tax free.

Sunday, 29 October 2017 13:06

Ireland - budget 2018

The Irish Government announced the Budget 2018 on the 10th of October 2017, with some changes in critical areas like taxation and social welfare.

Thursday, 18 May 2017 08:46

Beneficial Ownership Register - Central Register

A central register of beneficial ownership of corporate and other legal entities is required by the 4th EU Anti-Money Laundering Directive.

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