Williams Mullen's Comeback Plan: Part I – State & Local Tax (SALT) Compliance During COVID-19: What to Do When You’re Behind
Nota: El 11 de octubre de 2024, se publicó en el Diario Oficial de la Federación (DOF) la incorporación al Anexo 3 del criterio de referencia, relativo a los requisitos de indispensabilidad que deben cumplir las erogaciones...more
On Oct. 11, the incorporation of the referenced criterion into Annex 3 was published in the Federal Register, regarding the requirements that expenses for the provision of services must meet in order to be deductible....more
Our investment funds team outline the latest developments within the investment funds market in the Cayman Islands including the updated requirements under the Beneficial Ownership Transparency Act, a reminder of obligations...more
Over the past year, alongside handling the economic repercussions of the war and issuing financial assistance to war victims and to evacuees, the courts, the legislative authority and the Israel Tax Authority continued their...more
El Gobierno Nacional de Colombia radicó, estratégicamente, el proyecto de Ley de Financiamiento 2024, el 10 de septiembre de 2024, buscando con ello justificar el Presupuesto General de la Nación 2025 por $523 billones,...more
Mediante reciente Sentencia 26085 del 30 de agosto de 2024, el Consejo de Estado de Colombia declaró la anulación parcial de la doctrina de la Dirección de Impuestos y Aduanas Nacionales (DIAN) que concluía que el socio...more
The Supreme Court confirmed in Centrica Overseas Holdings Ltd v HMRC that the tests for trading and management expenses of a capital nature are the same. The decision also confirms that once a company has decided in principle...more
The German carry taxation regime pursuant to Section 18, paragraph 1, number 4 in the German Income Tax Act (referred to hereafter as “Section 18”) provides for a beneficial tax treatment of carry income of German resident...more
New immigrants to Israel who purchase a first residence will pay significantly lower purchase tax rates than the tax payable according to the current benefit, after the Knesset Finance Committee recently approved an amendment...more
The highest German tax court confirmed again its position on the tax treatment of carried interest in a recent decision (docket number VIII R 3/21, decision dated 16 April 2024) published on 18 July 2024. For German income...more
The General Prosecutor’s Office of the Republic of Kazakhstan issued an order earlier this year providing a proactive protection of rights and interests of investors in Kazakhstan. This LawFlash summarizes key takeaways from...more
On May 23, 2024, the Joint Chiefs of Global Tax Enforcement (the “J5”) published an advisory note for financial institutions, identifying red flags associated with crypto-related illicit activities. The J5 is a collaborative...more
The Tel Aviv Administrative Court recently ruled that the Israel Tax Authority (ITA) acted unlawfully and without authority when it deducted depreciation from the value of apartment purchases. This ruling applies to instances...more
Earlier this year, the OECD observed there has been a significant increase in global wealth inequality over the last two decades. It also acknowledged that “taxation is a key instrument . . . that governments have at their...more
A precise definition of business services was recently at the core of a dispute between the Israel Tax Authority and eBay Marketplace Israel Ltd., a subsidiary of the multinational eBay Group. The district court litigated...more
Crypto and Web3 Firms Announce Fintech Integrations - A major U.S. fintech firm recently announced a product integration with MoonPay, a Web3 infrastructure company, “that allows MoonPay users in the U.S. to seamlessly buy...more
En Concepto 100202208-0603 del 27 de marzo de 2024, luego de que nuestro equipo solicitara la reconsideración de su doctrina, la Dirección de Impuestos y Aduanas Nacionales (DIAN) de Colombia acepta que no es necesario emitir...more
A draft bill to amend the Income Tax Ordinance was published in early March 2024. The objective of the draft bill is to increase transparency in the Israeli tax system. That is in order to combat unreported capital and to...more
In March 2024, the Knesset legislated the Freezing and Reducing Convalescence Pay in 2024 for Budgeting Benefits for Reservists Law. This law applies to the private sector, following an earlier collective bargaining agreement...more
At the beginning of November 2023, the Israel Tax Authority published special instructions granting concessions to employees issued a company car who were subsequently called up for emergency reserve duty under an Order 8 or...more
On February 5, 2024, the French Supreme Tax Court (Conseil d’État) voided French tax authority guidelines from May 2023 that provided that shares acquired upon the exercise of founder stock options, or Bons de Souscription de...more
In this review of taxation and the British Virgin Islands, Conyers Corporate Counsel Nicholas Kuria discusses some of the most commonly misunderstood notions relating to the use of offshore jurisdictions, with a focus on the...more
The Multistate Tax Commission (MTC)’s 2023 Fall Committee Meetings are off to an exciting start, considering the announcement that Philadelphia will be joining the MTC’s Joint Audit Program. The District of Columbia and...more
En Conceptos 907362 del 26 de julio de 2021 y 90112 del 14 de febrero de 2022, la Dirección de Impuestos y Aduanas Nacionales (DIAN) de Colombia, había limitado el descuento en el impuesto sobre la renta del impuesto sobre...more
A district court ruling handed down this past September addresses the legitimacy of distributing dividends prior to a sale of shares in order to reduce the tax liability deriving from the transaction. The court found that, in...more