This document provides an overview and summary of proposed tax measures from the Belgian government's 2012 budget. It discusses proposed changes to corporate taxes, including reductions to the notional interest deduction rate, taxation of capital gains on shares held less than one year, modifications to thin capitalization rules, and expansion of general anti-abuse rules. It also outlines potential changes to pension taxation, including requirements to externalize internal pension provisions and limitations on tax deductions for employer pension contributions. The presentation provides context and analysis of these proposed measures and their potential impacts.
Tax opportunities - investing through the NetherlandsGuido Van Asperen
The document discusses investing in Europe through the Netherlands. It notes that the Netherlands is often chosen as a gateway to Europe due to operational benefits like workforce, logistics, and a multilingual environment. It also offers tax incentives for companies establishing and growing their European footprint. The Dutch tax incentive scheme grows with a company's presence in Europe. It then outlines four growth scenarios: starting by exporting to Europe via the Netherlands; growing by setting up a local sales force from private dwellings; professionalizing by hiring office space; and maturing by expanding the office into a European holding company. The document then provides more details on these scenarios and considerations for each.
Legislation update and current structure developmentsInfotropic Media
This document provides an update on legislation and developments in the Netherlands as of June 2013. It summarizes:
1) Recent legislation changes as of January 2013 regarding interest deductions and anti-abuse rules.
2) Amendments to the Dutch Cooperative structure as of January 2012 to prevent artificial constructions and ensure real economic activity.
3) Narrowing the scope of substantial ownership regulations starting in 2012.
4) Requirements for substance in Dutch structures to avoid reclassification.
5) Other Dutch tax advantages such as participation exemption, tax treaties, and rulings.
6) Proposed changes to tax arrangements with Curacao starting in 2014, including new dividend withholding rates
Phuong - Taxation in the UK - Chapter 9 - The personal tax computationPhuong Nguyen
Going along with this presentation is the instruction for self-learning, hihi, but in Vietnamese :D
Hope it would be helpful for you in this quite boring subject ^^
(Please read comments from the bottom to the top)
With the onset of higher personal tax rates, more complex rules on the tax deductibility of interest and an election round the corner, now is the time to be thinking about structuring your tax affairs.
BDO ran a seminar for private equity executives that demonstrated:
- How to structure your fund
- How to plan during the life of your fund
- Latest techniques for structuring transactions
- Minimising VAT leakage
Find out more in the slides of the presentation.
The document summarizes Belgium's 2012 budget measures, including reductions to the notional interest deduction rate for corporate equity. The notional interest deduction previously allowed companies to deduct deemed interest on qualifying equity at a rate linked to 10-year government bonds, up to a cap of 3.8%. The 2012 budget measures will reduce this cap to 3% starting in 2013. It also proposes limiting carryforwards of excess notional interest deductions to 7 years and restricting the deduction of existing carryforwards to 60% of taxable income each year. The reductions are estimated to increase tax revenue by €1.62 billion, over 45% of new tax measures.
HLB Schippers is a regional audit and tax advisory firm in the Netherlands with five offices and approximately 240 employees. It is a member of the HLB International network of accounting firms with a presence in over 100 countries. This document provides an agenda and summaries for a meeting covering recent tax developments in the Netherlands, accounting updates, and audit updates. Key points discussed include recent changes to the Dutch corporate income tax act, consolidation exemptions, IFRS and IFRS for SME updates, and upcoming changes to IFRS standards.
On Top of Tax - preparing for the upturn: debt restructuring, anti-avoidance ...BDO
The document summarizes strategies for companies and individuals to mitigate the impact of the upcoming increase in the UK tax rate to 50% for those earning over £150,000.
It discusses advancing salary and bonus payments before April 2010 to avoid the higher tax rate. It also covers salary sacrifice arrangements, emigration, expatriate assignments, bonus deferral with loans, clawing back bonuses, accelerating share option vesting, approved share option plans, partly paid shares, growth shares, and growth shares in a subsidiary. Key issues addressed include employment law, cash flow, accounting impacts, and tax authority approval for some strategies.
Tax opportunities - investing through the NetherlandsGuido Van Asperen
The document discusses investing in Europe through the Netherlands. It notes that the Netherlands is often chosen as a gateway to Europe due to operational benefits like workforce, logistics, and a multilingual environment. It also offers tax incentives for companies establishing and growing their European footprint. The Dutch tax incentive scheme grows with a company's presence in Europe. It then outlines four growth scenarios: starting by exporting to Europe via the Netherlands; growing by setting up a local sales force from private dwellings; professionalizing by hiring office space; and maturing by expanding the office into a European holding company. The document then provides more details on these scenarios and considerations for each.
Legislation update and current structure developmentsInfotropic Media
This document provides an update on legislation and developments in the Netherlands as of June 2013. It summarizes:
1) Recent legislation changes as of January 2013 regarding interest deductions and anti-abuse rules.
2) Amendments to the Dutch Cooperative structure as of January 2012 to prevent artificial constructions and ensure real economic activity.
3) Narrowing the scope of substantial ownership regulations starting in 2012.
4) Requirements for substance in Dutch structures to avoid reclassification.
5) Other Dutch tax advantages such as participation exemption, tax treaties, and rulings.
6) Proposed changes to tax arrangements with Curacao starting in 2014, including new dividend withholding rates
Phuong - Taxation in the UK - Chapter 9 - The personal tax computationPhuong Nguyen
Going along with this presentation is the instruction for self-learning, hihi, but in Vietnamese :D
Hope it would be helpful for you in this quite boring subject ^^
(Please read comments from the bottom to the top)
With the onset of higher personal tax rates, more complex rules on the tax deductibility of interest and an election round the corner, now is the time to be thinking about structuring your tax affairs.
BDO ran a seminar for private equity executives that demonstrated:
- How to structure your fund
- How to plan during the life of your fund
- Latest techniques for structuring transactions
- Minimising VAT leakage
Find out more in the slides of the presentation.
The document summarizes Belgium's 2012 budget measures, including reductions to the notional interest deduction rate for corporate equity. The notional interest deduction previously allowed companies to deduct deemed interest on qualifying equity at a rate linked to 10-year government bonds, up to a cap of 3.8%. The 2012 budget measures will reduce this cap to 3% starting in 2013. It also proposes limiting carryforwards of excess notional interest deductions to 7 years and restricting the deduction of existing carryforwards to 60% of taxable income each year. The reductions are estimated to increase tax revenue by €1.62 billion, over 45% of new tax measures.
HLB Schippers is a regional audit and tax advisory firm in the Netherlands with five offices and approximately 240 employees. It is a member of the HLB International network of accounting firms with a presence in over 100 countries. This document provides an agenda and summaries for a meeting covering recent tax developments in the Netherlands, accounting updates, and audit updates. Key points discussed include recent changes to the Dutch corporate income tax act, consolidation exemptions, IFRS and IFRS for SME updates, and upcoming changes to IFRS standards.
On Top of Tax - preparing for the upturn: debt restructuring, anti-avoidance ...BDO
The document summarizes strategies for companies and individuals to mitigate the impact of the upcoming increase in the UK tax rate to 50% for those earning over £150,000.
It discusses advancing salary and bonus payments before April 2010 to avoid the higher tax rate. It also covers salary sacrifice arrangements, emigration, expatriate assignments, bonus deferral with loans, clawing back bonuses, accelerating share option vesting, approved share option plans, partly paid shares, growth shares, and growth shares in a subsidiary. Key issues addressed include employment law, cash flow, accounting impacts, and tax authority approval for some strategies.
The document discusses several topics related to international taxation and reforms that could benefit developing countries. It addresses two main questions: 1) How can international tax rules be reformed long-term to benefit developing countries? 2) What are short-term measures for small developing countries to protect their corporate tax base? The document also summarizes work done by ICTD on taxing multinational corporations, transfer pricing issues, the BEPS project, digital taxation, minimum taxes, safe harbors, and tax treaties.
- Double taxation occurs when the same income is taxed twice, such as income being taxed in both the country where it was earned and the country of the taxpayer's residence.
- Double Taxation Avoidance Agreements (DTAAs) are designed to protect taxpayers from double taxation and encourage international trade and investment. However, these agreements can also be abused through practices like treaty shopping.
- Treaty shopping occurs when a resident of a third country seeks to obtain benefits from a DTAA between two other countries by establishing a company or entity in one of those countries. This allows the taxpayer to access favorable tax rates.
This document provides an introduction to international taxation and tax treaties. It begins with definitions of key concepts like globalization and international taxation. It then discusses tax treaties, including their objectives, evolution, models, and structure. The document outlines the prominent articles in tax treaties, including those related to definitions, distributive provisions, and anti-avoidance measures. It also discusses how tax treaties are interpreted and concepts like permanent establishment. Overall, the document aims to introduce fundamental aspects of international taxation and tax treaty frameworks.
The seminar agenda outlines presentations on corporate and personal taxation updates in Belgium, including changes to the notional interest deduction limits, thin capitalization rules, taxation of company cars, and increased penalties for undisclosed benefits in kind. The document also provides details on the new regulations and their impacts.
This document outlines a new database and research initiative on taxing the extractive sector in low-income countries. It aims to (1) create a pilot historical tax database on the gold industry in 14 African countries from 1980 to 2015, and (2) develop a discounted cash flow model to compare gold rent sharing in these countries between 1990 and 2015. The database will inventory taxes and fees on gold companies and link them to legal references. The model will calculate average effective tax rates for different mine types over time to allow comparisons across countries and years. The goal is to improve understanding of mineral resource rent sharing in Africa through publicly available comparative indicators and analysis.
Anti-Treaty Shopping: A Comparative Analysis of the U.S. and OECD Model Tax C...Akunobera
The presentation highlights the key approaches taken by the U.S. and the OECD to combat treaty shopping techniques and highlights key differences between those approaches.
The Easiest way to understand International taxation , Concept of Double taxation and its avoidance agreements (DTAA) and its types . Tax implication of activities of foreign enterprise in India: Mode of entry and taxation respectively.
This document provides an overview of international taxation in India. It discusses key concepts like residence-based versus source-based taxation, types of international taxation, taxability of transactions, double taxation and relief measures. It also covers topics like foreign remittances, tax avoidance methods, tax treaties, and recent budget changes regarding international taxation in India. The document contains definitions of terms, explanations of concepts, and comparisons of the OECD and UN models of tax treaties.
This document discusses tax havens and offshore financial centers (OFCs). It defines tax havens as jurisdictions that use laws and secrecy to help other entities avoid taxes in other jurisdictions. OFCs are defined as jurisdictions that provide disproportionate financial services to non-residents. Key characteristics of tax havens and OFCs are low or no taxes, strong protections on financial privacy, and lack of transparency. Examples of tax havens include Luxembourg, Switzerland, and Delaware. Examples of OFCs include the Bahamas, Bermuda, and Switzerland. OFCs specialize in services like shipping/aircraft registration, insurance, banking, and collective investment vehicles.
This document discusses the Multilateral Instrument (MLI) Convention, which aims to implement tax treaty related measures from the OECD/G20 BEPS Project to prevent base erosion and profit shifting. The MLI will modify over 3000 bilateral tax treaties. Key features of the MLI include introducing principal purpose tests to prevent tax avoidance, adopting simplified limitation of benefit clauses, expanding definitions of permanent establishment, and improving dispute resolution mechanisms. India has signed the MLI and it will modify India's 93 tax treaties, though the effects on some treaties are unclear as not all countries participated. The MLI provides flexibility for each country to choose which provisions to adopt and will help address treaty shopping and other BEPS issues.
CONFLICT OF SOURCE AND RESIDENCE PRINCIPLES OF TAXATIONksanu
This document discusses various types of conflicts that can arise in international taxation between the principles of residence and source. Residence/source conflicts occur when the same income is taxed by both the country of residence under residence principles and the country of source under source principles. Source/source conflicts happen when multiple countries claim income was sourced from their territory. Residence/residence conflicts arise when two countries consider a taxpayer resident under their domestic laws. Double tax agreements aim to resolve these conflicts through provisions regarding sole residence or source taxation, or tiebreaker rules to determine sole residency.
Basics of Double Taxation Avoidance AgreementsGagan Singh
Double taxation avoidance agreements (DTAAs) are bilateral agreements between countries to avoid double taxation of the same income in both countries. DTAAs allocate taxing rights between the source and residence country and provide relief from double taxation through exemption or tax credit methods. For example, interest earned by a non-resident Indian in their non-resident ordinary bank account in India may be taxed at a reduced rate according to the DTAA between India and the NRI's country of residence rather than the default 30.9% withholding tax rate. India currently has over 80 DTAAs to avoid double taxation.
Julie Murphy O'Connor and Gearoid Carey provide an overview on Enforcement of Foreign Judgments in Ireland in the 2018 edition of Getting the Deal Through.
This document discusses international tax advice from Taxatelier, including eliminating tax risks related to beneficial ownership of dividends, interest, and royalties. It covers uncovering beneficial ownership, examining case law on dividends, interest, and royalties, and how Taxatelier can assist with tax compliance, indirect tax services, and international tax advice.
The document provides an overview and update on international taxation rules for cross-border transactions. It discusses key concepts like controlled foreign corporations, foreign tax credits, FACTA requirements, and filing requirements for outbound and inbound international transactions. Failure to comply with foreign reporting rules can result in civil and in some cases criminal penalties. The presentation aims to help people understand and properly adhere to the complex IRS regulations for international tax compliance.
This document provides an overview of international taxation concepts. It discusses how residency is a key factor in determining tax jurisdiction, as countries either tax worldwide income for residents or only income from domestic sources for non-residents. There can be conflicts when countries define residency differently, such as based on place of incorporation versus management and control, which can lead to double taxation. Treaties aim to resolve such conflicts but different countries take different approaches in their treaties. The concepts of residency, jurisdiction, and relief from double taxation are important aspects of international tax.
Future of treaty formed holding companies and preferential Harm J. Oortwijn
This document discusses the future of treaty-based holding structures and preferential tax regimes in light of base erosion and profit shifting (BEPS) measures. It outlines how Action 6 aims to prevent treaty shopping through limitation on benefits rules and principal purpose tests. The EU Parent Subsidiary Directive and upcoming Anti-Tax Avoidance Directive also include general anti-avoidance rules targeting artificial arrangements. Action 5 addresses harmful preferential tax regimes by requiring substantial activities in the jurisdiction. The document then discusses exit charges related to business restructuring and unwinding existing structures to make them compliant with BEPS and anti-avoidance rules. It emphasizes analyzing functions, assets and risks to determine appropriate exit charges at arm's length.
This brochure highlights some of the main tax implications of restructuring transactions and insolvency procedures across Europe to give the reader advance warning of the areas where specialist advice might be required.
The European tax landscape is in flux as governments evaluate and begin to enact the output from OECD’s base erosion and profit shifting (“BEPS”) initiatives. Tried and tested cross-border restructuring techniques may need to be reconsidered in what is a tricky environment where there are yet few certainties. Excellent read provided by Deloitte UK.
Tim O'Rahilly from PwC gave a presentation to the Dublin Chamber of Commerce on 30 November 2011 about the current Irish tax environment, Budget 2012, and trends in tax-efficient structuring. He discussed how the tax system has changed significantly in recent years due to the public finances crisis, with new taxes introduced and reliefs restricted. Budget 2012 is expected to raise additional tax revenue through further income tax increases, an annual property tax, and a possible increase to the VAT and capital gains tax rates. Common tax planning trends involve using personal service companies, employee growth shares, and restructuring property and debt holdings into companies.
1) Santander reported a 3% increase in pre-provision profit to EUR 18.2 billion for January-September 2012 compared to the same period last year.
2) Loan-loss provisions increased significantly by 30.2% to EUR 9.5 billion due to efforts to strengthen provisions in Spain.
3) After accounting for higher provisions, attributable profit declined to EUR 1.8 billion for January-September 2012.
Covering trends in state and local taxes, we'll focus on the impact regarding income and franchise taxes whether from a compliance, controversy or tax planning perspective.
The document discusses several topics related to international taxation and reforms that could benefit developing countries. It addresses two main questions: 1) How can international tax rules be reformed long-term to benefit developing countries? 2) What are short-term measures for small developing countries to protect their corporate tax base? The document also summarizes work done by ICTD on taxing multinational corporations, transfer pricing issues, the BEPS project, digital taxation, minimum taxes, safe harbors, and tax treaties.
- Double taxation occurs when the same income is taxed twice, such as income being taxed in both the country where it was earned and the country of the taxpayer's residence.
- Double Taxation Avoidance Agreements (DTAAs) are designed to protect taxpayers from double taxation and encourage international trade and investment. However, these agreements can also be abused through practices like treaty shopping.
- Treaty shopping occurs when a resident of a third country seeks to obtain benefits from a DTAA between two other countries by establishing a company or entity in one of those countries. This allows the taxpayer to access favorable tax rates.
This document provides an introduction to international taxation and tax treaties. It begins with definitions of key concepts like globalization and international taxation. It then discusses tax treaties, including their objectives, evolution, models, and structure. The document outlines the prominent articles in tax treaties, including those related to definitions, distributive provisions, and anti-avoidance measures. It also discusses how tax treaties are interpreted and concepts like permanent establishment. Overall, the document aims to introduce fundamental aspects of international taxation and tax treaty frameworks.
The seminar agenda outlines presentations on corporate and personal taxation updates in Belgium, including changes to the notional interest deduction limits, thin capitalization rules, taxation of company cars, and increased penalties for undisclosed benefits in kind. The document also provides details on the new regulations and their impacts.
This document outlines a new database and research initiative on taxing the extractive sector in low-income countries. It aims to (1) create a pilot historical tax database on the gold industry in 14 African countries from 1980 to 2015, and (2) develop a discounted cash flow model to compare gold rent sharing in these countries between 1990 and 2015. The database will inventory taxes and fees on gold companies and link them to legal references. The model will calculate average effective tax rates for different mine types over time to allow comparisons across countries and years. The goal is to improve understanding of mineral resource rent sharing in Africa through publicly available comparative indicators and analysis.
Anti-Treaty Shopping: A Comparative Analysis of the U.S. and OECD Model Tax C...Akunobera
The presentation highlights the key approaches taken by the U.S. and the OECD to combat treaty shopping techniques and highlights key differences between those approaches.
The Easiest way to understand International taxation , Concept of Double taxation and its avoidance agreements (DTAA) and its types . Tax implication of activities of foreign enterprise in India: Mode of entry and taxation respectively.
This document provides an overview of international taxation in India. It discusses key concepts like residence-based versus source-based taxation, types of international taxation, taxability of transactions, double taxation and relief measures. It also covers topics like foreign remittances, tax avoidance methods, tax treaties, and recent budget changes regarding international taxation in India. The document contains definitions of terms, explanations of concepts, and comparisons of the OECD and UN models of tax treaties.
This document discusses tax havens and offshore financial centers (OFCs). It defines tax havens as jurisdictions that use laws and secrecy to help other entities avoid taxes in other jurisdictions. OFCs are defined as jurisdictions that provide disproportionate financial services to non-residents. Key characteristics of tax havens and OFCs are low or no taxes, strong protections on financial privacy, and lack of transparency. Examples of tax havens include Luxembourg, Switzerland, and Delaware. Examples of OFCs include the Bahamas, Bermuda, and Switzerland. OFCs specialize in services like shipping/aircraft registration, insurance, banking, and collective investment vehicles.
This document discusses the Multilateral Instrument (MLI) Convention, which aims to implement tax treaty related measures from the OECD/G20 BEPS Project to prevent base erosion and profit shifting. The MLI will modify over 3000 bilateral tax treaties. Key features of the MLI include introducing principal purpose tests to prevent tax avoidance, adopting simplified limitation of benefit clauses, expanding definitions of permanent establishment, and improving dispute resolution mechanisms. India has signed the MLI and it will modify India's 93 tax treaties, though the effects on some treaties are unclear as not all countries participated. The MLI provides flexibility for each country to choose which provisions to adopt and will help address treaty shopping and other BEPS issues.
CONFLICT OF SOURCE AND RESIDENCE PRINCIPLES OF TAXATIONksanu
This document discusses various types of conflicts that can arise in international taxation between the principles of residence and source. Residence/source conflicts occur when the same income is taxed by both the country of residence under residence principles and the country of source under source principles. Source/source conflicts happen when multiple countries claim income was sourced from their territory. Residence/residence conflicts arise when two countries consider a taxpayer resident under their domestic laws. Double tax agreements aim to resolve these conflicts through provisions regarding sole residence or source taxation, or tiebreaker rules to determine sole residency.
Basics of Double Taxation Avoidance AgreementsGagan Singh
Double taxation avoidance agreements (DTAAs) are bilateral agreements between countries to avoid double taxation of the same income in both countries. DTAAs allocate taxing rights between the source and residence country and provide relief from double taxation through exemption or tax credit methods. For example, interest earned by a non-resident Indian in their non-resident ordinary bank account in India may be taxed at a reduced rate according to the DTAA between India and the NRI's country of residence rather than the default 30.9% withholding tax rate. India currently has over 80 DTAAs to avoid double taxation.
Julie Murphy O'Connor and Gearoid Carey provide an overview on Enforcement of Foreign Judgments in Ireland in the 2018 edition of Getting the Deal Through.
This document discusses international tax advice from Taxatelier, including eliminating tax risks related to beneficial ownership of dividends, interest, and royalties. It covers uncovering beneficial ownership, examining case law on dividends, interest, and royalties, and how Taxatelier can assist with tax compliance, indirect tax services, and international tax advice.
The document provides an overview and update on international taxation rules for cross-border transactions. It discusses key concepts like controlled foreign corporations, foreign tax credits, FACTA requirements, and filing requirements for outbound and inbound international transactions. Failure to comply with foreign reporting rules can result in civil and in some cases criminal penalties. The presentation aims to help people understand and properly adhere to the complex IRS regulations for international tax compliance.
This document provides an overview of international taxation concepts. It discusses how residency is a key factor in determining tax jurisdiction, as countries either tax worldwide income for residents or only income from domestic sources for non-residents. There can be conflicts when countries define residency differently, such as based on place of incorporation versus management and control, which can lead to double taxation. Treaties aim to resolve such conflicts but different countries take different approaches in their treaties. The concepts of residency, jurisdiction, and relief from double taxation are important aspects of international tax.
Future of treaty formed holding companies and preferential Harm J. Oortwijn
This document discusses the future of treaty-based holding structures and preferential tax regimes in light of base erosion and profit shifting (BEPS) measures. It outlines how Action 6 aims to prevent treaty shopping through limitation on benefits rules and principal purpose tests. The EU Parent Subsidiary Directive and upcoming Anti-Tax Avoidance Directive also include general anti-avoidance rules targeting artificial arrangements. Action 5 addresses harmful preferential tax regimes by requiring substantial activities in the jurisdiction. The document then discusses exit charges related to business restructuring and unwinding existing structures to make them compliant with BEPS and anti-avoidance rules. It emphasizes analyzing functions, assets and risks to determine appropriate exit charges at arm's length.
This brochure highlights some of the main tax implications of restructuring transactions and insolvency procedures across Europe to give the reader advance warning of the areas where specialist advice might be required.
The European tax landscape is in flux as governments evaluate and begin to enact the output from OECD’s base erosion and profit shifting (“BEPS”) initiatives. Tried and tested cross-border restructuring techniques may need to be reconsidered in what is a tricky environment where there are yet few certainties. Excellent read provided by Deloitte UK.
Tim O'Rahilly from PwC gave a presentation to the Dublin Chamber of Commerce on 30 November 2011 about the current Irish tax environment, Budget 2012, and trends in tax-efficient structuring. He discussed how the tax system has changed significantly in recent years due to the public finances crisis, with new taxes introduced and reliefs restricted. Budget 2012 is expected to raise additional tax revenue through further income tax increases, an annual property tax, and a possible increase to the VAT and capital gains tax rates. Common tax planning trends involve using personal service companies, employee growth shares, and restructuring property and debt holdings into companies.
1) Santander reported a 3% increase in pre-provision profit to EUR 18.2 billion for January-September 2012 compared to the same period last year.
2) Loan-loss provisions increased significantly by 30.2% to EUR 9.5 billion due to efforts to strengthen provisions in Spain.
3) After accounting for higher provisions, attributable profit declined to EUR 1.8 billion for January-September 2012.
Covering trends in state and local taxes, we'll focus on the impact regarding income and franchise taxes whether from a compliance, controversy or tax planning perspective.
- Deutsche Telekom reported Q1 2012 results with group revenue of €14.4 billion, a 1.1% decline year-over-year, but an improved organic decline of 1.7%. Adjusted EBITDA was stable at €4.5 billion.
- In Germany, revenue declined 2.3% organically due to lower voice and wholesale revenues, but adjusted EBITDA margin improved further to 40.7% due to cost savings. Mobile data revenue grew 20% and smartphone sales were strong.
- In the US, revenues declined 2.3% in US dollars but adjusted EBITDA grew 8% to US$1.3 billion due to cost reductions, with the margin improving
The 2011 UK budget report included the following key points:
1) The main rate of corporation tax was cut to 26% and will be reduced to 23% by 2014. Personal income tax allowances were projected to increase to £8,105 by 2012/13.
2) Enterprise investment schemes and venture capital trusts received reforms, including an increase in the tax relief rate for EIS investments to 30%.
3) Non-domiciled individuals facing an increased annual charge of £50,000 if resident for 12+ years and wishing to use the remittance basis.
4) Various measures supported charities, including simplification of gift aid. The entrepreneurs' relief lifetime limit increased to
1) The document cautions that the presentation contains forward-looking statements that may differ from actual results due to various risk factors.
2) It provides capital ratios and other metrics to demonstrate Santander's balance sheet strength, including a core capital ratio above 10% and liquidity measures.
3) Details are given on real estate provisions taken in Spain in H1'12 and their impact on profits, while still maintaining strong capital ratios.
This document discusses proposals regarding the taxation of income from employment, retirement benefits, and perquisites under the Direct Taxes Code. Key points discussed include:
1) Retirement benefits like gratuity and commuted pension would be exempt from tax only if deposited in a Retirement Benefits Account. Withdrawals from this account would be taxed.
2) Issues were raised regarding taxing all retirement benefits upon withdrawal, given the absence of a universal social security system in India.
3) The document proposes continuing EEE taxation for certain existing retirement savings instruments like PPF and exempting approved life insurance and annuity schemes.
4) The valuation of perquisites like rent-free accommodation is
Many countries are implementing tax incentives and job protection measures to help companies during the economic downturn. Belgium is reducing employment costs and increasing tax deductions for R&D. Brazil is allowing offsets of social security taxes with asset depreciation. Canada is lowering corporate tax rates. France offers tax exemptions for foreign workers. Luxembourg provides tax credits for hiring and is lowering corporate taxes. The Netherlands has a temporary lower corporate tax rate. Norway proposes exit taxes for transferring assets abroad. Switzerland offers a tax credit against capital taxes, useful for U.S. companies.
- The group reported a net loss of EUR 578 million for FY 2011 compared to a net profit of EUR 223 million in FY 2010. The insurance segment reported a net loss of EUR 313 million due to impairment charges, down from a net profit of EUR 391 million in FY 2010.
- Total gross inflows were EUR 17.2 billion, down 4% from FY 2010. Funds under management were stable at EUR 70.6 billion.
- The insurance combined ratio improved substantially to 101.1% from 107.3% in FY 2010, driven by better non-life performance in Belgium and the UK.
- A gross cash dividend
1. The document discusses key aspects of the government budget including revenue sources like taxes, expenditure categories like plans and non-plans, and fiscal indicators like fiscal deficit.
2. It explains concepts related to the budget like revenue receipts, capital receipts, revenue expenditure, capital expenditure, revenue deficit, and fiscal deficit.
3. The major sources of revenue for the government are taxes which include both direct and indirect taxes, while the major components of expenditure are plans, non-plans, interest payments, subsidies, and transfers to states.
Angel Ron: Banco Popular Third Quarter 2010 Results CrisisBanco Popular
Banco Popular, the organization headed by Angel Ron, presents the results obtained in the third quarter of 2010.
According to the results, Banco Popular expects to finish the year keeping the line in terms of results obtained in these months.
Banco Popular also points at that althought the crisis is not over, we will keep reinforcing our
provisions
Financial transaction tax small is beautiful (english)ManfredNolte
The document discusses financial transaction taxes and makes three key points:
1) The volume of financial transactions has grown rapidly in recent decades, reaching about 70 times world GDP in 2007. However, the financial crisis reduced trading volumes by around half.
2) Only a few countries currently have financial transaction taxes in place. Proponents argue they could raise revenue and reduce harmful transactions, while critics say the costs outweigh benefits.
3) A small financial transaction tax may be justified to limit socially undesirable transactions that contribute to systemic risk. However, targeted remedies are preferable to address specific issues.
The 2011 Budget aims to boost business and jobs growth through measures like reducing the corporation tax rate, extending business rate relief, and doubling Entrepreneurs' Relief. It also aims to help families with the rising cost of living by cutting fuel duty and raising the personal income tax allowance. Other measures include changes to inheritance tax, Gift Aid, and introducing passenger duty on private jets. Economic growth forecasts were lowered but borrowing is expected to fall. The Office for Budget Responsibility will become a permanent body advising on budgets.
Union Budget 2009 Accretive Special CommuniqueVishnu Bagri
The document provides an overview and summary of key proposals from the Indian Union Budget for 2009. Some key points:
- No changes were made to corporate or personal income tax rates. MAT was increased to 15% from 10% for companies.
- Exemption limits for personal income tax and wealth tax were increased. Fringe benefits tax was abolished.
- GST is planned for implementation in April 2010 to integrate goods and services taxes.
- Key proposals focused on improving tax system efficiency and equity while continuing fiscal support for certain sectors.
Bayer AG reported financial results for Q3 2012. Group sales increased 5.5% adjusted for currency and portfolio effects to €9.7 billion. EBIT declined 23.7% to €0.8 billion due to special items including litigation costs. HealthCare sales grew 5.5% adjusted, with pharmaceutical sales up 6.1% led by new products. CropScience sales increased 12.8% adjusted due to strong demand and new products. The company confirmed its full-year outlook.
Webinar important tax changes in poland from 2022 the polish deal (7.12)PwC Polska
The document provides an agenda and overview for PwC Poland's webinar on important tax changes in Poland from 2022, known as "The Polish Deal". The webinar will cover an overview of the Polish Deal, its impact on investors, international tax and transfer pricing changes, and personal income tax implications. Specific sessions will discuss the Polish Deal's effect on CIT, PIT, tax incentives, and other changes to the Polish tax law.
The document summarizes the key aspects of the 2011 Irish budget as presented by Anthony Casey of Noone Casey Chartered Accountants. Some of the main points of the budget included lowering tax thresholds, reducing tax credits, introducing a new universal social contribution, abolishing some tax reliefs, and increasing excise duties. The budget was also expected to result in cuts to social welfare and pension restrictions. Noone Casey provided analysis of the impact on contractors' take home pay and offered personal financial reviews and a new financial management service called i-Finance to help mitigate the effects.
The company reported strong financial results for the first nine months of 2012. Revenue increased 14% compared to the same period in 2011, reaching €157.1 million. Net operating income rose 15% to €41.1 million and earnings before interest and taxes grew 16% to €37.3 million. Consolidated profit increased nearly 25% to €49.9 million. The company expects to slightly increase its dividend and continues its strategy of investing in shopping centers.
Recent developments in the field of VAT: a view from the European CommissionDLA Piper Nederland N.V.
This workshop has been held at Legal Business Day on 8 September 2011.
This presentation takes you through the future of VAT from an EU perspective, giving detailed background information on the future VAT reforms and insight into what can be expected in the future VAT framework in Europe. Special attention is paid to the practical implications of the new European Council Regulation clarifying the existing VAT rules.
During this workshop DLA Piper specialists shared information concerning the key decision makers in Europe and the value of early participation in the legislative process for your business. A case study was presented, which focuses on the practical issues you may face if your business were to get involved in the legislative process.
Addressing the challenge of the new European Union Medical Device RegulationEY Belgium
The document discusses the new European Union Medical Device Regulation and how it presents both challenges and opportunities for medical device companies. It provides an overview of the key changes in the new regulation regarding transparency, products, and patients. These include requirements for more clinical evidence, restrictions on certain substances, unique device identification, and expanded labeling. The document then analyzes how these changes could impact businesses in areas like branding, competitive landscape, portfolio rationalization, and strategic planning. It argues companies should view the regulation as a strategic opportunity and presents a seven-step approach to help companies implement compliant solutions and changes.
IFRS 15 - the new revenue recognition standard EY Belgium
The IASB and the FASB have jointly issued a new revenue standard, IFRS 15 Revenue from Contracts with Customers, which will replace the existing IFRS and US GAAP revenue guidance.Find out more in our comprhensive brochure.
EY financial accounting advisory services - Your partner in financeEY Belgium
The EY FAAS team listens to your needs, analyse the business drivers impacting your business and help you shaping the finance tools or processes of the future.
European banking barometer - Belgian results EY Belgium
The European Banking Barometer provides a benchmark and overview of the macro-economic outlook and its impact on the European banking industry, as well as the priorities banks will focus on over the next six months.
The gradual recovery of European banks is expected to continue. Most bankers remain positive about the economy and their bank’s performance, but the sector isn’t out of the woods yet. After a significant swing towards optimism in our previous edition, our latest survey reveals that a few more bankers expect the economy to improve but most only anticipate slight improvement.
The Belgian Parliament passed a law granting greater fiscal autonomy to Belgium's three Regions regarding individual income tax. This includes: 1) A new regional additional tax levied by each Region on resident taxpayers; 2) Shifting specific tax reductions from federal to regional authority; 3) Applying regional tax systems to some non-resident taxpayers earning most income in Belgium. The law enables components of Belgium's Sixth State Reform to take effect in 2014, regionalizing aspects of the personal income tax system and impacting taxpayers.
Baromètre de l'Attractivité belge - résultats de perception EY Belgium
Il ressort du Baromètre de l’Attractivité belge, un rapport annuel d’EY qui analyse la perception de la Belgique en tant que pays d’investissement, que l’attractivité de notre Royaume se situe à un tournant.
Barometer van de Belgische Attractiviteit 2014 - perceptieresultaten EY Belgium
Uit de Barometer van de Belgische Attractiviteit, een jaarlijks rapport van EY dat de perceptie van België als investeringslocatie in kaart brengt, blijkt dat de aantrekkelijkheid van België op een keerpunt zit. Lees hier hoe buitenlandse investeerders ons lang percipiëren en welke aanbevelingen EY maakt.
Analyse des performances et évolution du tissu PME wallonEY Belgium
Les PME dopent plus que jamais l’économie wallonne -
Le financement reste toutefois le talon d’Achille de la PME wallonne:
- Les PME wallonnes sont plus petites que les PME flamandes
- Les PME wallonnes ont crû davantage que les PME flamandes
- La Wallonie souffre toujours d’un déficit important de PME
- Les PME wallonnes lourdement handicapées par des problèmes de financement et de capitalisation
EY global consumer banking survey - Western European highlights EY Belgium
The document summarizes key findings from EY's third global consumer banking survey of over 32,000 customers in 43 countries. It focuses on results for Western Europe. The survey found that while confidence in the banking industry has risen globally after years of decline, confidence decreased in most Western European countries over the past year. Customers in Western Europe express less trust in their financial providers than globally. Banks need to focus on convenience, communications, advice, problem resolution and enhancing the digital experience to strengthen customer relationships and advocacy.
The CFO Barometer is a collaboration of EY with CFO magazine. In this edition EY Belgium partner Stefan Olivier talks about the economic trends every CFO has to take into account.
EY Real Estate Asset Investment trend indicator 2014 EY Belgium
The EY Real Estate Asset Investment trend indicator shows increasing interest for Belgian real estate as sound investment in 2014. More findings included.
European Banking Barometer: Spring/Summer 2013 - Belgian focusEY Belgium
EY’s European Banking Barometer is a bi-annual study to determine the views of senior bankers across the major banking markets in Europe. The research focuses on the current macro-economic environment and how it will impact their organization an the banking industry as a whole over the next six months.
Barometer van de Belgische Attractiviteit 2013 EY Belgium
De Barometer van de Belgische Attractiviteit presenteert de resultaten van de reële directe buitenlandse investeringen in België. Een structurele aanpak is hoogdringend.
This document discusses recent developments in Belgian employment law regarding the harmonization of white-collar and blue-collar worker statuses, as well as the self-employed status. The Constitutional Court ruled the distinction between white-collar and blue-collar workers to be unconstitutional, requiring a harmonization of their statuses. Additional changes relate to dismissal procedures and illness leave. The document also examines challenges around classifying professional activities as employee or self-employed work. New criteria in Belgium's Labour Relations Act provide guidance in making such determinations.
EY barometer van de belgische attractiveness part 1 2013EY Belgium
Het ondernemersvertrouwen in België als investeringslocatie staat steeds meer onder druk
Buitenlandse investeerders verwachten geen eenmalige doch structurele maatregelen van de Belgische regering
EY baromètre de l’attractivité belge partie 1 - 2013EY Belgium
La confiance des entreprises dans la Belgique en tant que terre d’investissement de plus en plus mise sous pression
Les investisseurs étrangers attendent des mesures structurelles, et non pas ponctuelles, de la part du gouvernement belge
Efficient PHP Development Solutions for Dynamic Web ApplicationsHarwinder Singh
Unlock the full potential of your web projects with our expert PHP development solutions. From robust backend systems to dynamic front-end interfaces, we deliver scalable, secure, and high-performance applications tailored to your needs. Trust our skilled team to transform your ideas into reality with custom PHP programming, ensuring seamless functionality and a superior user experience.
The Role of White Label Bookkeeping Services in Supporting the Growth and Sca...YourLegal Accounting
Effective financial management is important for expansion and scalability in the ever-changing US business environment. White Label Bookkeeping services is an innovative solution that is becoming more and more popular among businesses. These services provide a special method for managing financial duties effectively, freeing up companies to concentrate on their main operations and growth plans. We’ll look at how White Label Bookkeeping can help US firms expand and develop in this blog.
Ellen Burstyn: From Detroit Dreamer to Hollywood Legend | CIO Women MagazineCIOWomenMagazine
In this article, we will dive into the extraordinary life of Ellen Burstyn, where the curtains rise on a story that's far more attractive than any script.
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Presentation by Herman Kienhuis (Curiosity VC) on Investing in AI for ABS Alu...Herman Kienhuis
Presentation by Herman Kienhuis (Curiosity VC) on developments in AI, the venture capital investment landscape and Curiosity VC's approach to investing, at the alumni event of Amsterdam Business School (University of Amsterdam) on June 13, 2024 in Amsterdam.
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The Steadfast and Reliable Bull: Taurus Zodiac Signmy Pandit
Explore the steadfast and reliable nature of the Taurus Zodiac Sign. Discover the personality traits, key dates, and horoscope insights that define the determined and practical Taurus, and learn how their grounded nature makes them the anchor of the zodiac.
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Adani Group's Active Interest In Increasing Its Presence in the Cement Manufa...Adani case
Time and again, the business group has taken up new business ventures, each of which has allowed it to expand its horizons further and reach new heights. Even amidst the Adani CBI Investigation, the firm has always focused on improving its cement business.
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