News & Analysis as of

Value-Added Tax (VAT)

Morgan Lewis

Update: UK Finalizes Export Ban on Luxury Goods to Russia

Morgan Lewis on

The United Kingdom has finalized its ban on the delivery, sale, transit, and export of luxury goods to Russia, focusing on items that will impact Russian oligarchs and other members of the Russian elite....more

Braumiller Law Group, PLLC

Hot Topics in International Trade - April 2022 - IMMEX - More of What You Need to Know

IMMEX is an acronym that in Spanish stands for Industria Manufacturera, Maquiladora y de Servicios de Exportacion (Manufacturing, Maquiladora and Export Services Industry). It is a program from the Mexican federal government...more

Dentons

Kenya Budget 2022 - Summary

Dentons on

The Cabinet Secretary responsible for the National Treasury read his budget statement on 7 April 2022. In this alert, we summarise the salient tax proposals set out by the Cabinet Secretary.  1. Is the National Tax Policy...more

Dentons

The VAT quagmire: An analysis of the decision of the Port-Harcourt Division of the Federal High Court of Nigeria - in the case of...

Dentons on

Introduction - Value Added Tax (“VAT”) is a major source of income for the Federal Government of Nigeria (“FGN”). In 2020, the FGN generated N1.54trillion from VAT alone. It is therefore not surprising that the FGN has...more

Cadwalader, Wickersham & Taft LLP

The UK Funds Review Response: Steps Forward But a Key Opportunity Missed

On 10 February 2022, the UK government published its response to the input received from various stakeholders into the UK funds regime review. The response document summarises the responses received and, in acknowledging that...more

Proskauer Rose LLP

UK Tax Round Up - February 2022

Proskauer Rose LLP on

Welcome to February’s edition of our UK Tax Round Up. This month’s edition includes updated guidance on the VAT treatment of contractual termination payments, updated HMRC guidance on the assessment of “substantial”...more

Vinson & Elkins LLP

HMRC Confirms Revised Policy on the VAT Treatment of Early Termination Fees and Compensation Payments

Vinson & Elkins LLP on

New guidance has been issued by HMRC setting out their new policy on the VAT treatment of early termination fees and compensation payments, supplanting heavily criticised guidance issued in 2020. ...more

International Lawyers Network

Establishing A Business Entity In Norway (Updated)

1. Different Business Entities - 1.1 Introduction and outline - Enterprises in Norway may be organized in several ways; the most common are limited liability companies, partnerships, and sole proprietorship. When...more

Pillsbury Winthrop Shaw Pittman LLP

Establishing and Managing a Business in the UK 2022

Overseas investors are welcome in the UK. Save as set out below, there are no specific laws prohibiting foreign investment in the UK nor are there any business requirements for UK participation in the ownership or management...more

Dentons

Ministry of Finance announces the new days without VAT for the year 2022

Dentons on

By Decree 290 of February 28, 2022, and in order to continue with the economic reactivation of the country, the Ministry of Finance modified Decree 1625 of 2016, establishing as days of exemption from Sales Tax ("VAT") for...more

Katten Muchin Rosenman LLP

Winners and Losers: HMRC Revises Policy on VAT Treatment of Fees and Compensation for Early Termination of Contracts

HM Revenue and Customs (HMRC) now considers that charges made by businesses to their customers to withdraw early from agreements to supply goods or services are payments for a supply and potentially subject to value added-tax...more

International Lawyers Network

Establishing A Business Entity In Liechtenstein (Updated)

The Principality of Liechtenstein lies at the centre of Europe, nestled between Switzerland and Austria, next to the river Rhine. The form of government is a constitutional monarchy established on democratic parliamentary...more

International Lawyers Network

Buying and Selling Real Estate in Ukraine

KEY FACTS OF REAL ESTATE ACQUISITIONS UNDER UKRAINIAN LAW - І. Types and specifics of real estate in Ukraine - The main types of real estate in Ukraine are the following: - land plots; - other objects that cannot be...more

International Lawyers Network

Buying and Selling Real Estate in England and Wales (Updated)

KEY FACTS OF REAL ESTATE ACQUISITIONS UNDER BRITISH LAW - 1. Introduction - Historically, there has been significant investment by overseas individuals and corporations in real estate in England and Wales and in...more

International Lawyers Network

Buying and Selling Real Estate in Turkey (Updated)

KEY FACTS OF REAL ESTATE ACQUISITIONS UNDER TURKISH LAW - 1. Agreement Types - Pursuant to Turkish laws, a real estate sale and purchase agreement shall be in an official form and the transfer of ownership of real...more

Dentons

High Court invalidates Value Added Tax Regulations, 2017

Dentons on

The High Court has delivered its judgment in Income Tax Appeal No E84 of 2020: Commissioner of Domestic Taxes v W. E. C. Lines (K) Limited where Dentons Hamilton Harrison & Mathews represented the taxpayer. ...more

International Lawyers Network

Buying and Selling Real Estate in Cyprus

KEY FACTS OF REAL ESTATE ACQUISITIONS UNDER CYPRIOT LAW - A. GENERAL - 1. Introduction - Cyprus is a common law jurisdiction, and its legal system is based on the UK one. It is a clear and robust system which...more

International Lawyers Network

Buying and Selling Real Estate in the Netherlands (Updated)

KEY FACTS OF REAL ESTATE ACQUISITIONS UNDER DUTCH LAW - Introduction - The purchase of an immovable property is a mutual agreement. Neither the seller nor the buyer has the obligation to make use of the services of...more

Bryan Cave Leighton Paisner

Review of the UK Funds Regime: HM Treasury sets out conclusions and next steps to improve UK’s attractiveness for funds

On 10 February 2022 HM Treasury published a response document (Response) to its January 2021 ‘call for input’ on a review of the UK funds regime. The review was necessarily wide-ranging, covering direct and indirect tax,...more

Proskauer Rose LLP

UK Tax Round Up - January 2022

Proskauer Rose LLP on

UK Case Law Developments - Contributions to remuneration trust scheme not tax deductible - In Strategic Branding Ltd v HMRC, the First-tier Tribunal (FTT) held that sums contributed by the taxpayer company to a...more

Katten Muchin Rosenman LLP

Katten Corporate and Real Estate Tax Case Roundup – February 2022

In this roundup, we look at some of the key cases in corporate and real estate tax from December 2021 to January 2022, including the value–added tax (VAT) decisions on input VAT that was not passed on to final consumers and...more

International Lawyers Network

Buying and Selling Real Estate in Russia (Updated)

KEY FACTS OF REAL ESTATE ACQUISITIONS UNDER RUSSIAN LAW - I. Types of real estate • land plots; • buildings, facilities, and other objects closely connected with land (i.e., objects that cannot be removed without...more

Dentons

Main changes to the tax legislation in 2022

Dentons on

General provisions - Changes in the statute of limitation for large enterprises - Starting January 1, 2022, the statute of limitation for “large-sized enterprises” (as classified under the Entrepreneurial Code of the...more

International Lawyers Network

Buying and Selling Real Estate in Portugal (Updated)

KEY FACTS OF REAL ESTATE ACQUISITIONS UNDER PORTUGUESE LAW - I.INTRODUCTION - Portugal is an Iberian Peninsula country, bordered by the Atlantic to the west and south and Spain to the north and east. In addition to...more

Allen & Overy LLP

Opt-out from VAT exemption for financial services under Polish law

Allen & Overy LLP on

Taxpayers can now withdraw from the VAT exemption for financial and fund management services, as well as services concerning foreign currency exchange, coins and banknotes....more

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Sausalito, CA 94965

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Contacting JD Supra

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