2020 witnessed a continuing economic slowdown around the globe, along with the unexpected outbreak of COVID-19. In June, the World Bank forecasted that the global economy would shrink by 5.2%, while the Organization for Economic Co-operation and Development (OECD) projected a decline of 4.2% in the 2020 economy.
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Watch out Buyers: Despite actual knowledge, notices for claims must include sufficient detail
The High Court in Dodika Ltd v United Luck Group Holdings Ltd [2020] EWHC 2101 (Comm) recently held that a buyer’s provision of a notice in respect of a claim under a tax covenant contained in a share sale and purchase agreement was invalid.
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A Brief of New Individual Income Tax Policies on Foreign Income
On January 17, 2020, the PRC Ministry of Finance and State Administration of Taxation jointly issued the Announcement on Individual Income Tax Policies Relating to Foreign Income (关于境外所得有关个人所得税政策的公告) (Announcement No.3), which further clarifies Chinese individual income tax (IIT) policies with respect to foreign income including the scope of foreign income, calculation of foreign tax credit, procedures on tax filing of foreign income and compliance requirements under cross-border secondment arrangement.
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2019 China Tax Review
This article reviews and highlights the new individual income tax rules and major tax rules issued in 2019, which may impact on foreign companies doing business in China.
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Doing Business in Germany (3) – Taxation and deal structuring
By King & Wood Mallesons
The national tax system
As most western countries, Germany has a rather complex and detailed tax system, with a wide range of legislation as well as decrees from fiscal authorities and jurisdictions of the fiscal courts.
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Doing Business in AU丨Features of our Tax System
By King & Wood Mallesons
What are the main features of Australia’s tax system?
Australia has a comprehensive tax regime with taxes imposed at both the Federal level and the State/Territory level. The Australian Taxation Office (ATO) is responsible for administering the tax laws imposed at the Federal level and each State and Territory has a different body which administers the tax laws imposed in that particular jurisdiction
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香港特别行政区政府颁布《2018年税务（豁免基金缴付利得税）（修订）条例草案》
2018年12月7日，香港特别行政区政府（香港政府）颁布《2018年税务（豁免基金缴付利得税）（修订）条例草案》（《草案》），以引入针对现时适用于合资格私募基金的利得税豁免的修订。业界参与者普遍视《草案》为改革和厘清适用于在香港营办的合资格基金的税务制度，和提升香港作为国际性和地区性资产和财富管理中心的地位的重要一步。《草案》在2018年12月12日提交立法会，预料相关修订将在2019年4月施行。
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【图说个税】个税改革全解析
2019年1月1日新个税法将全面实施，本文将从个税修订要点、热点问题解读以及实务操作角度为您全面解析此次个税改革。从1980年实施至今，《中华人民共和国个人所得税法》已经过七次修改，其中1993年版构建了现行个税法的基本框架，此后多次修改主要是对扣除标准和税率等问题的小幅调整。此次个税改革堪称力度空前，推动了个人所得税从分类税制向综合与分类相结合的税制转变，且优化了税率结构，大幅拉大了中低档税率级距，改革红利更多地惠及中低收入人群。
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税务争议解决系列 | 当税事遇见刑事
按照我国法律规定，税收违法行为在达到一定标准后将构成刑事犯罪，从而面临刑罚。本文将对现行刑事法律中规定的涉税犯罪进行分析，并对其立案追诉标准作简要归集。
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Democratic Republic of Congo set to increase taxes on natural resources and revoke guarantees for mining companies
By Alex Baykitch AM, Robert Edel and Edwina Kwan.
On 24 January 2018, the senate of the Democratic Republic of Congo (DRC) unanimously passed a bill which, once enacted, will increase taxes on natural resources in the DRC and revoke contract guarantees for existing mining projects across the country.
The bill is likely to have a significant impact on international investors in the mining industry who will be immediately subject to higher royalties and a tax on “super-profits”. Although the bill will not take effect until President Joseph Kabila signs it into law, this is expected to happen imminently unless miners and lobbyists are successful in convincing the President to suspend the adoption of the bill.
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