The GST Council has relaxed filing rules for the first two months post implementation. Here's how to file your returns for these months using form GSTR 3B. To know more about GSTR 3B, visit our page https://cleartax.in/s/gstr-3b
VAT Implementation in KSA (Kingdom of Saudi Arabia)Mitesh Katira
VAT is on the way of implementation in the KSA from 1st of Jan 2018. It is critical for the companies to understand the nuances of the same and work on a roadmap to implement VAT so as to optimize the impact not only on profitability, working capital, pricing but also ERP, team sensitization and vendor education.
VAT is applied in more than 160 countries around the world as a reliable source of revenue for state budgets.
VAT is imposed at each stage of the supply chain from the production and distribution to the final sale of the good or service. The understanding concepts of “Supply”, “Place of Supply” and “Time of Supply” become critically important for effective implementation of KSA VAT.
Here is a simple graphical guide for understanding the KSA VAT.
Apuntes y prácticas de la asignatura Fiscalidad de la Empresa del MBA de la Universidad de Alicante e impartida por Lorenzo Gil Maciá.
Podéis acceder a los cálculos de la práctica en la siguiente hoja de cálculo de la práctica:
https://docs.google.com/spreadsheets/d/1_TaTx-4SkJFQ9xOyTUmjFnuEIM32PldXTtP9SRAp-0g/edit?usp=sharing
El temario es:
- Impuesto sobre la Renta de las Personas Físicas.
- Impuesto sobre Sociedades.
- Impuesto sobre el Valor Añadido.
- Informática tributaria.
- Planificación fiscal.
Lo que se puede aprender estudiando los apuntes y prácticas es:
La asignatura tiene por objeto el análisis, desde una perspectiva eminentemente práctica, de los principales impuestos que gravan la actividad empresarial. Conocer el contenido y las fuentes normativas del Impuesto sobre Sociedades, del Impuesto sobre el Valor Añadido, y del Impuesto sobre la Renta de las Personas Físicas. El conocimiento de los impuestos mencionados se complementará con el aprendizaje de los programas informáticos de declaración y la adecuada cumplimentación de los modelos oficiales.
Open Educational Resources (OER) Basicscerttechpro
The purpose of this presentation is to satisfy part of the requirements for the course “How to Use Open Educational Resources (OER)”, offered in 2015 by Washington Online. The hopes are also that it could serve as a beginning resource.
The GST Council has relaxed filing rules for the first two months post implementation. Here's how to file your returns for these months using form GSTR 3B. To know more about GSTR 3B, visit our page https://cleartax.in/s/gstr-3b
VAT Implementation in KSA (Kingdom of Saudi Arabia)Mitesh Katira
VAT is on the way of implementation in the KSA from 1st of Jan 2018. It is critical for the companies to understand the nuances of the same and work on a roadmap to implement VAT so as to optimize the impact not only on profitability, working capital, pricing but also ERP, team sensitization and vendor education.
VAT is applied in more than 160 countries around the world as a reliable source of revenue for state budgets.
VAT is imposed at each stage of the supply chain from the production and distribution to the final sale of the good or service. The understanding concepts of “Supply”, “Place of Supply” and “Time of Supply” become critically important for effective implementation of KSA VAT.
Here is a simple graphical guide for understanding the KSA VAT.
Apuntes y prácticas de la asignatura Fiscalidad de la Empresa del MBA de la Universidad de Alicante e impartida por Lorenzo Gil Maciá.
Podéis acceder a los cálculos de la práctica en la siguiente hoja de cálculo de la práctica:
https://docs.google.com/spreadsheets/d/1_TaTx-4SkJFQ9xOyTUmjFnuEIM32PldXTtP9SRAp-0g/edit?usp=sharing
El temario es:
- Impuesto sobre la Renta de las Personas Físicas.
- Impuesto sobre Sociedades.
- Impuesto sobre el Valor Añadido.
- Informática tributaria.
- Planificación fiscal.
Lo que se puede aprender estudiando los apuntes y prácticas es:
La asignatura tiene por objeto el análisis, desde una perspectiva eminentemente práctica, de los principales impuestos que gravan la actividad empresarial. Conocer el contenido y las fuentes normativas del Impuesto sobre Sociedades, del Impuesto sobre el Valor Añadido, y del Impuesto sobre la Renta de las Personas Físicas. El conocimiento de los impuestos mencionados se complementará con el aprendizaje de los programas informáticos de declaración y la adecuada cumplimentación de los modelos oficiales.
Open Educational Resources (OER) Basicscerttechpro
The purpose of this presentation is to satisfy part of the requirements for the course “How to Use Open Educational Resources (OER)”, offered in 2015 by Washington Online. The hopes are also that it could serve as a beginning resource.
Presentation made by Shalini Srivatastava of K V Cantt Mathura in the stage 3 of Mathura Genius Award 2009 (Junior Level) organized by Paarth Educational Foundation (www.paarth.in)
Presentation given by Siddharth Saxena of Sacred Heart Convent School in the Stage 3 of Mathura Genius Award 2009 (Senior Level) organized by Paarth Educational Foundation (www.paarth.in)
ISN Silver Coins Opportunity Explained,
With HSBC buying up stocks of silver and the Daily Telegraph predicting a 400% rise in the next 3 years it is an excellent time to buy silver. In consequence the general public is actively looking for competitively priced coins which is what this fantastic business provides.
Fta brazilian taxadvices_for_international_investors Dec 2017Marcelo Couceiro
How doing business in Brazil is a basic summary of tax and corporate aspects international entrepeuners and executives need to understand on their strategic planning phase to enter in Brazil. We recomend as best practice request assistance to experts in order to carry out their business in compliance and adding value to your business.
Welcome to our guide for Taxation in Vietnam. In this guide, we hope to provide you with an overview of the key aspects of Taxation in Vietnam and answer many of the questions that foreign businesses and entrepreneurs have when making their first venture into the Vietnamese market.
Understanding the basics of corporate taxation Nigeria - BRC.pdfMaureen Omodiagbe
Understanding the basics of corporate taxation in Nigeria. The taxation on the profits of a company. The session covers
Scope
Residence
Rate
Profits exempt, expenses
Withholding tax
Minimum tax, excess dividends tax
Tax filing, Due date, Penalty
Companies Income Tax Act (CITA) Cap 60, 2004 as amended and Finance Acts 2019, 2020, 2021
Vera Dantas presentation.Legal aspects of undertaking business in BrazilNoronha Noad
Apresentação de Dra. Vera Dantas na Global Sports Opportunities Conference, promovida pelo United Kingdom Trade & Investment (UKTI) nos dias 30 e 31 de Janeiro.
Para mais detalhes do evento acesse http://www.globalsportsconference.ukti.gov.uk/content/public/main/Programme.aspx
Let's dive deeper into the world of ODC! Ricardo Alves (OutSystems) will join us to tell all about the new Data Fabric. After that, Sezen de Bruijn (OutSystems) will get into the details on how to best design a sturdy architecture within ODC.
Smart TV Buyer Insights Survey 2024 by 91mobiles.pdf91mobiles
91mobiles recently conducted a Smart TV Buyer Insights Survey in which we asked over 3,000 respondents about the TV they own, aspects they look at on a new TV, and their TV buying preferences.
Transcript: Selling digital books in 2024: Insights from industry leaders - T...BookNet Canada
The publishing industry has been selling digital audiobooks and ebooks for over a decade and has found its groove. What’s changed? What has stayed the same? Where do we go from here? Join a group of leading sales peers from across the industry for a conversation about the lessons learned since the popularization of digital books, best practices, digital book supply chain management, and more.
Link to video recording: https://bnctechforum.ca/sessions/selling-digital-books-in-2024-insights-from-industry-leaders/
Presented by BookNet Canada on May 28, 2024, with support from the Department of Canadian Heritage.
Dev Dives: Train smarter, not harder – active learning and UiPath LLMs for do...UiPathCommunity
💥 Speed, accuracy, and scaling – discover the superpowers of GenAI in action with UiPath Document Understanding and Communications Mining™:
See how to accelerate model training and optimize model performance with active learning
Learn about the latest enhancements to out-of-the-box document processing – with little to no training required
Get an exclusive demo of the new family of UiPath LLMs – GenAI models specialized for processing different types of documents and messages
This is a hands-on session specifically designed for automation developers and AI enthusiasts seeking to enhance their knowledge in leveraging the latest intelligent document processing capabilities offered by UiPath.
Speakers:
👨🏫 Andras Palfi, Senior Product Manager, UiPath
👩🏫 Lenka Dulovicova, Product Program Manager, UiPath
"Impact of front-end architecture on development cost", Viktor TurskyiFwdays
I have heard many times that architecture is not important for the front-end. Also, many times I have seen how developers implement features on the front-end just following the standard rules for a framework and think that this is enough to successfully launch the project, and then the project fails. How to prevent this and what approach to choose? I have launched dozens of complex projects and during the talk we will analyze which approaches have worked for me and which have not.
DevOps and Testing slides at DASA ConnectKari Kakkonen
My and Rik Marselis slides at 30.5.2024 DASA Connect conference. We discuss about what is testing, then what is agile testing and finally what is Testing in DevOps. Finally we had lovely workshop with the participants trying to find out different ways to think about quality and testing in different parts of the DevOps infinity loop.
State of ICS and IoT Cyber Threat Landscape Report 2024 previewPrayukth K V
The IoT and OT threat landscape report has been prepared by the Threat Research Team at Sectrio using data from Sectrio, cyber threat intelligence farming facilities spread across over 85 cities around the world. In addition, Sectrio also runs AI-based advanced threat and payload engagement facilities that serve as sinks to attract and engage sophisticated threat actors, and newer malware including new variants and latent threats that are at an earlier stage of development.
The latest edition of the OT/ICS and IoT security Threat Landscape Report 2024 also covers:
State of global ICS asset and network exposure
Sectoral targets and attacks as well as the cost of ransom
Global APT activity, AI usage, actor and tactic profiles, and implications
Rise in volumes of AI-powered cyberattacks
Major cyber events in 2024
Malware and malicious payload trends
Cyberattack types and targets
Vulnerability exploit attempts on CVEs
Attacks on counties – USA
Expansion of bot farms – how, where, and why
In-depth analysis of the cyber threat landscape across North America, South America, Europe, APAC, and the Middle East
Why are attacks on smart factories rising?
Cyber risk predictions
Axis of attacks – Europe
Systemic attacks in the Middle East
Download the full report from here:
https://sectrio.com/resources/ot-threat-landscape-reports/sectrio-releases-ot-ics-and-iot-security-threat-landscape-report-2024/
UiPath Test Automation using UiPath Test Suite series, part 4DianaGray10
Welcome to UiPath Test Automation using UiPath Test Suite series part 4. In this session, we will cover Test Manager overview along with SAP heatmap.
The UiPath Test Manager overview with SAP heatmap webinar offers a concise yet comprehensive exploration of the role of a Test Manager within SAP environments, coupled with the utilization of heatmaps for effective testing strategies.
Participants will gain insights into the responsibilities, challenges, and best practices associated with test management in SAP projects. Additionally, the webinar delves into the significance of heatmaps as a visual aid for identifying testing priorities, areas of risk, and resource allocation within SAP landscapes. Through this session, attendees can expect to enhance their understanding of test management principles while learning practical approaches to optimize testing processes in SAP environments using heatmap visualization techniques
What will you get from this session?
1. Insights into SAP testing best practices
2. Heatmap utilization for testing
3. Optimization of testing processes
4. Demo
Topics covered:
Execution from the test manager
Orchestrator execution result
Defect reporting
SAP heatmap example with demo
Speaker:
Deepak Rai, Automation Practice Lead, Boundaryless Group and UiPath MVP
To Graph or Not to Graph Knowledge Graph Architectures and LLMs
Taxation in Brazil
1. The Brazilian Tax System
Presentation to Students of the School of Business,
University of Victoria, Canada in São Paulo 11 April
2013
2. Tax on Corporate Profits (Income Tax )
WORLD WIDE INCOME BASIS
Companies domiciled in Brazil are liable to
Corporate Income Tax on income arising both
in Brazil and overseas. Brazilian branch offices,
agencies or representative offices of companies
domiciled abroad are subject to income tax on
income arising in Brazil.
3. Tax Rate
The basic rate of Income Tax on corporate
profits (including capital gains), as adjusted for
tax purposes, for the year 2013 is 15% with an
additional surtax of 10% on taxable profits
exceeding R$240,000 (approximately US$
120,000 per annum.
4. Tax Basis
Income Tax is payable based on either real, presumed
or imputed profits (“lucro real, presumido ou arbitrado”).
Law nº 9.249/95 et al
The so-called “real” profit is represented by accounting
profit as adjusted for tax purposes, whilst the estimated
or imputed profits are calculated by applying a
percentage over the company’s turnover to determine
the “profit” figure, upon which Income Tax is
calculated at the rates indicated above. The imputed
profit basis is used when a company fails to produce
proper accounting or make annual tax returns and is
calculated based upon the application of certain
percentages fixed in law to the company’s turnover.
5. Treatment of Expenses
Income and expenses are to be recognized on an
accrual basis and the general rule for the deduction of
expenses is that they should be “necessary to the
activity of the company and the maintenance of the
respective income producing source.” Necessary
expenses are considered to be those “paid or incurred
and which may be considered normal or usual in the
company’s transactions, operations or activities.”
Certain expenses, such as medical assistance, are only
considered deductible when the benefit is extended to
all the company’s employees and are not permitted if
only extended to, say, the company’s directors.
6. Losses
The losses originated in an accounting period may be
carried forward for relief against future profits, without
time limit, but the offset is limited to 30% of current
year taxable income. No carry-back of losses is allowed
under Brazilian legislation.
Pre-operational (start up expenses) should be treated as
deferred assets and amortized over a period of not less
than five years from the date of commencement of
operations.
7. Social Contribution on Net Profits
In addition to the liability for income tax on profits,
as referred above, a company is liable to social
contribution tax (“Contribuição social sobre o lucro” –
“CSLL”) upon its income and capital gains.
The applicable tax rate is 9%.
Effective Tax Rate on profits – 34%
8. Capital Gains on Foreign Direct Investment
Capital Gains arising on the disposal by non-residents
of investments registered with the Central Bank
(BACEN) are liable to tax at source at 15%. Where the
investor is resident in a tax haven jurisdiction the rate is
25%.
Base value for the calculation is the foreign currency
investment registered with BACEN.
Tax still applies even if sale takes abroad
9. WITHHOLDING TAXES
Dividends – zero
Interest – 15% or 25% if tax haven
Royalties – 15% (plus CIDE 10%) or 25% (plus
CIDE) if tax haven
Service payments – 15% plus CIDE
10. CIDE
Since 1 January 2002, the contribution for Intervention in the
Economic Domain (“CIDE”) is also due over the amounts paid,
credited, delivered, used or remitted, on a monthly basis, to non-
resident beneficiaries, for royalties and remuneration in the following
types of contracts:
a) Licensing and assignment of patents;
b) Technical support (in relation to technical assistance and
specialized technical services)
c) Assignment and licensing of trademarks;
d) Software supply (only when occurs the transfer of its technology);
e) Technology supply; and
f) Contracts for the supply of technical services, administrative
assistance and other similar services.
This contribution is levied at rate of 10 per cent over the amounts paid,
delivered, credited, used or remitted per month as payments under the
types of agreements mentioned above to beneficiaries who are resident
abroad.
Due to its specific tax incidence, the provisions of treaties to avoid
double taxation to which Brazil is a signatory are not available to
permit any reduction or exemption in relation to this base.
11. TAX TREATIES
Brazil has signed double taxation treaties with
Argentina, Austria, Belgium, Canada, Chile, China, the
Czech and Slovak Republics, Denmark, Ecuador,
Finland, France, Hungary, India, Israel, Italy, Japan,
Luxembourg, Mexico, Netherlands, Norway,
Philippines, Portugal, South Africa, South Korea, Spain,
Sweden and Ukraine.
No Tax Treaty with the UK or USA.
Brazil not a member of OECD.
12. OTHER CONSIDERATIONS
Thin Capitalisation Rules (2:1)
Transfer Pricing legislation effective since 1997
(connected companies and tax havens)
CFC Legislation
Amortisation of goodwill on acquisition through
Brazilian corporate vehicle
13. Other Taxes
Social Contribution on Invoicing - COFINS
This tax is levied on a non-cumulative basis at a general rate of
7.6 per cent on the gross revenue from sales of merchandise and
the rendering of services.
For those companies that ascertain their profits using the
“presumed profit basis”, and for some kinds of revenue arising
from some specific business activities, this tax is levied on a
cumulative basis at a general rate of 3 per cent on the gross
revenue from sales of merchandise and the rendering of services.
As of 2004, COFINS is also levied on imports of products,
equipment and services from abroad at general rate of 7.6%. In
relation to services, COFINS is levied on those rendered by a
foreign-base legal entity or individual even if those services are
rendered directly in Brazil and for services whose results can be
“verified” in the country.
14. Other Taxes
Contribution to the Social Integration Program - PIS
This contribution is generally charged on a non-cumulative at
rate of 1.65 per cent on the gross revenue from sales of
merchandise and the rendering of services.
For those companies that ascertain their profits using the
“presumed profit basis”, and for some kinds of revenue
arising from some specific business activities, this tax is levied
on a cumulative basis at a general rate of 0.65 per cent on the
gross revenue from sales of merchandise and the rendering of
services.
As of 2004, PIS is also levied on imports of products,
equipment and services from abroad at general rate of 1.65%.
In relation to services, PIS is levied on those rendered by a
foreign-base legal entity or individual even if those services are
rendered directly in Brazil and for services whose results can
be “verified” in the country.
15. Other Taxes
Tax on Industrial Products - IPI
IPI is a federal tax charged on industrial products at selective rates varying
according to the class of products per the classification in the table included
in the IPI tax law (Law 4.502/64 and Decree-Law 34/66).
According to Law 9.532/97, products for export can leave the industrial
establishment with suspension of the IPI when:
a) Acquired by an export trading company, with specific purpose of export;
and
b) Remitted to customs deposit areas or other places where the customs
brokerage takes place.
An industrialised product is considered as being a product resulting from an
operation that modifies the nature, function, finish or appearance of a
product. The rate varies and depends on the classification of the goods as
specified by the law.
The IPI tax on the wholesale purchase price of goods is registered as a credit
in the books of the purchaser and, on the sale of the finished product, the
amount of tax shown on the invoice is registered as a debit. The balance
which results each month is the tax to be paid to the federal authority.
IPI is also levied on the importation of goods and equipment.
16. Other Taxes
Tax on Operations on the Circulation of Merchandise and
Services – ICMS
The tax on operations on the circulation of merchandise and
services (“ICMS”) is a state tax charged on all products. In the
case of São Paulo, the rate is generally 18 per cent of the value of
the merchandise or services. When materials are purchased, the
ICMS tax is already included in the price. In operations between
South of Brazil and the Southeast, the rate is 12 per cent, and
between the North, Northeast, Middle-West regions and the
state of Espírito Santo the rate is 7 per cent (Article 52 of State
Decree 45.490/2000). ICMS and IPI calculations are identical.
ICMS is also levied on the importation of goods and equipment.
17. Other Taxes
Import tax - The Common External Tariff
Mercosul introduced the Common External Tariff –
CET, created by the Protocol of Buenos Aires and in
Brazil by Decree 1.343 of 23 December 1994 as
amended.
The CET tariff applicable to trade between any
signatory of Mercosul with third-party countries and
varies between 0% and 35% depending upon the
product.
For imports from other countries, the rates vary based
on the fiscal classification of the product, pursuant to
Decree-Law 37/66.
18. Other Taxes
Service Tax - ISS
ISS is a tax charged by the municipal authorities on the
rendering of services. In the city of São Paulo, according to
Municipal Law 13.701/03 of 24 December 2003, the tax is
generally charged at rate of 5% on the services value. For
some activities there are lower rates (2 and 2.5 per cent) and
there are special tax regimes for specific services such as legal,
accounting, medical etc.
As of January 2004, ISS is levied on the purchase of foreign
services. Based on that, the Brazilian beneficiary is liable for
the payment of this tax. In addition, ISS is also levied on
exportation of services when the results occur in Brazil
(despite the fact that payment is made by a foreign resident).
19. Other Taxes
Real Estate Transfer Tax and Tax on Inheritances
and Donations
Tax Levied on Urban Property
Tax On Financial Operations (IOF)
Additional Contribution Over the Freight for
Shipping Renewal (AFRMM)
20. Thank You
Robert E. Williams
Partner – International Tax Department
rew@noronhaadvogados.com.br
www.noronhaadvogados.com.br
Av. Brigadeiro Faria Lima, 1485 - Torre Norte -
17º Andar 01452-002 São Paulo-SP Brasil
Tel: 55-11 5188-8090 | Fax: 55-11 5184-0097