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Tax Incentives

Changes in CIT and PIT signed by the President

by DLA Piper on

The President signed on 22 November 2017 the Act of 27 October of the current year, introducing changes to the acts on corporate income tax and personal income tax (further, the "Act"). The aim of the amendment is to make the...more

China tax incentives for advanced technology service enterprises rolled out to the entire nation: key features

by DLA Piper on

The China tax incentives for Advanced Technology Service Enterprises (ATSE) were first introduced in the Suzhou Industrial Park in 2006, then applied to 21 pilot cities in 2014, and subsequently expanded to another 11 cities...more

Connecticut Launches New and Incentivized Brownfields Program

by Beveridge & Diamond PC on

On October 31, Governor Dannel Malloy signed into law Connecticut’s bipartisan budget bill, which provides for a tax incentive plan to support brownfields remediation and reuse. The new plan, called the 7/7 Brownfields...more

Does Repeal of the EV Tax Credit Really Matter?

by Foley & Lardner LLP on

Last week, Republicans in the U.S. House of Representatives released their first attempt at tax reform legislation. Buried in the proposed legislation is a repeal of the current tax credit of up to $7500 to purchasers of...more

New Rules for Tax-Exempt Organizations in the Tax Cuts and Jobs Act

House Republican Tax Bill Imposes Excise Tax on Wealthy Private Universities and Excess Compensation of Highly Paid Employees; Subjects State Pension Plans to UBTI Rules - On Thursday, November 2, House Republicans led by...more

GASB 77 - What Is It, And How Can We Prepare?

What is GASB 77 and why does it exist? GASB 77 is an accounting pronouncement applicable to the financial statements of state and local governments. In order for their financial statements to be prepared in accordance with...more

Indian Trust Land: Taxation of Leases and Permanent Improvements

Over the last few years, the Department of Interior Bureau of Indian Affairs (BIA) updated the federal regulations on leases and rights-of-way on Indian trust land. Important tax provisions were included in the new...more

CT Creates New Brownfields Program, Adopts Brownfields Tax Credit

by Holland & Knight LLP on

Buried in an 881-page budget bill passed Thursday by the Connecticut General Assembly was a new program to support remediation and reuse of brownfields – properties long contaminated and underutilized – as well as new job...more

Cross-Border Incentive Plans: One Size Does Not Fit All

To recruit and retain highly skilled and experienced executives, companies must offer innovative and attractive compensation packages. Variable compensation is an increasingly important element of overall remuneration as...more

Estate Planning for Empty Nesters

by Bowditch & Dewey on

Your youngest child is finally off to college. The spare bedroom is now a cozy den. The weekly grocery bill has been cut in half. Even the dog is enjoying the peace and quiet. What to do with your newfound freedom? Before you...more

IRS Provides Relief for Bona Fide Residents of U.S. Virgin Islands, Puerto Rico

by Holland & Knight LLP on

• Because of the damage Hurricanes Irma and Maria inflicted on the U.S. Virgin Islands and Puerto Rico, the IRS has relaxed the stringent physical presence requirements that individuals typically must satisfy to qualify as...more

Financial Services Quarterly Report - Third Quarter 2017: Luxembourg Developments

by Dechert LLP on

Luxembourg recently has taken a number of actions in connection with the transposition or implementation of various EU directives and regulations, respectively, into national law. The Luxembourg government deposited a bill of...more

WTO Appellate Body Report: US – Conditional Tax Incentives for Large Civil Aircraft

by White & Case LLP on

Decision: The WTO Appellate Body has ruled that certain tax incentives provided by the State of Washington in the aerospace sector are not prohibited import substitution subsidies under the Agreement on Subsidies and...more

Introduction of new tax incentives for intellectual property

by Allen & Overy LLP on

The Luxembourg Government has, on 4 August 2017, submitted a bill1 to Parliament for the reintroduction of a regime of taxation of intellectual property (IP) rights in Luxembourg. The new regime is intended to replace the...more

Under the Dome: Inside the Maine State House

by Pierce Atwood LLP on

Under the Dome: Inside the Maine State House provides a high-level overview of recent activity at the Maine State House. Republicans Challenge Wording of Medicaid Expansion Question on Fall Ballot - Question 2 on...more

Tax Incentives For Qualified Treasury Centres In Thailand

by Allen & Overy LLP on

In 2015, the Royal Decree on Tax Reduction (No. 586) B.E. 2558 (2015) was issued, pursuant to the Revenue Code, to provide exemption from and reduce certain types of taxation in relation to international headquarter...more

Mauritius – the gate for Chinese Investment into Africa

by Dentons on

The data published by the Mauritius central bank and central statistics bureau in April shows that in 2016 China is the second largest foreign investor in (US$70 million, following US$128 million from France) and the largest...more

Luxembourg announces new IP tax regime

by DLA Piper on

Luxembourg has announced a new regime that offers a special tax incentive for certain income from intellectual property rights. The bill containing the new IP regime, which is expected to come into effect as of the 2018 tax...more

Michigan Adopts New Incentive Tool for Economic Development

by Foley & Lardner LLP on

A new tax incentive program targeting large job providers passed the Michigan legislature last week with bi-partisan support, and is expected to be signed soon by Governor Rick Snyder, who strongly supported the legislation....more

Green Tax Incentive Compendium

by Robinson & Cole LLP on

Federal Tax Incentives for Renewable Energy and Energy Efficiency - Federal business income tax credit for renewable electricity production - A. GENERAL DESCRIPTION. The Federal Internal Revenue Code provides a business...more

Tax Savings in the United States Virgin Islands – the Basics

by Garvey Schubert Barer on

When many people think of the United States Virgin Islands (“USVI”), they think of beautiful beaches on secluded islands. This is certainly correct, but many people do not know that the USVI is also home to some of the most...more

Tax incentives in Puerto Rico: a quick introduction

by DLA Piper on

To promote, attract and develop key industries, sectors and activities, Puerto Rico offers a spectrum of economic incentives, among them low fixed income tax rates, partial and/or total tax exemptions, income tax credits and...more

‘Affordable New York': The Revival of New York's 421-a Tax Exemption Program

by BakerHostetler on

The expired tax incentive program known as “421-a” has been re-established under new legislation with the recent passage of New York state’s 2018 budget plan. The tax incentive program partially exempts new residential...more

Senator Wyden Introduces “Clean Energy for America Act”

Senate Finance Committee Ranking Member Ron Wyden (D-OR) recently introduced the “Clean Energy for America Act,” which aims to create a new technology neutral system for federal tax credits for clean energy, clean fuel, and...more

Senate Finance Committee Introduces Clean Energy For America Act

by Bergeson & Campbell, P.C. on

On May 5, 2017, Senator Ron Wyden (D-OR) introduced to the Senate Finance Committee legislation focused on reducing carbon pollution over the next decade by incentivizing clean energy and promoting new technologies in the...more

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