/Doing business international

Belgium fails to reform its corporate tax regime

After long and intense negotiations, the Belgian federal government announced new tax measures, which will become effective on 1st of January 2017. Although the government was planning to reform the corporate tax regime, the new measures do not alter the rate of the current corporate tax (33.99%). The reforms have been postponed for an indefinite period [...]

The Gulf Cooperation Council

The Gulf Cooperation Council (GCC) is a regional, political, and economic organization uniting six Middle East monarchies – Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates. The alliance was established in 1981 with the purpose of enhancing the interconnection, coordination, integration, and security of its members. At present, the GCC possesses around 50% [...]

Inheritance Taxation in Bulgaria Extremely Low

Bulgarian citizens who inherit property worldwide and foreign individuals who inherit movable and immovable property located in Bulgaria are subject to Bulgarian inheritance tax. Inheritance taxation in Bulgaria is governed by Articles 29 to 43 of the Local Taxes and Fees Law. Who is paying inheritance tax? The following persons are subject to inheritance tax: (1) [...]

Gibraltar accepts bitcoin as a trading currency

What is bitcoin? Bitcoin is a virtual currency. In comparison with traditional currencies, bitcoin is not controlled by any central authority (e.g., a central bank). New bitcoins are generated by a decentralized process called mining. It involves the processing of bitcoin transactions by using specialized hardware.People who would like to start generating bitcoin have to use [...]

Bulgaria eases restrictions on offshore ownership

While numerous countries all over the world are imposing new restrictions on companies registered in tax havens, the Bulgarian government has recently eased the laws governing offshore ownership. Following the recommendations of the European Commission, the new amendments of the Bulgarian Offshore Law now permit offshore entities to own up to 10% of Bulgarian companies engaged [...]

Hungarian Trust

On 15th of March 2014, Hungary introduced the legal structure of “trust” in its legal system. Similarly to the Anglo-American trust, the Hungarian trust consists of three actors, namely, the settlor, the trustee, and the beneficiary. The settlor is the owner of the assets, whereas the trustee manages the settlor’s assets. Subject to certain conditions, the [...]

MASDAR CITY FREE ZONE IN ABU DHABI

Abu Dhabi, the capital of the United Arab Emirates (UAE), is not only the cultural and political center of the country, but also one of the major commercial and industrial areas in the UAE. Abu Dhabi hosts six free zones offering advantageous business environment to foreign investors. MasdarCity Free Zone (MCFZ), a global clean-technology cluster,which specializes [...]

Thousands of Greek companies relocate to Bulgaria

Due to its attractive tax regime, low labor costs, and political stability, Bulgaria is one of the most compelling countries in the EU to outsource business activities.The advantages of Bulgaria are positively evaluated not only by West European countries, but also by neighboring Eastern European countries. One of the most active countries in out flowing business [...]

US NOT VERY TAX FRIENDLY…

According the Organization for Economic Cooperation and Development (OECD), the United States has the highest corporate income tax rate in the world. Corporate profits in the US are taxed at rather outrageous corporate tax rates, averagely 39,1%. Therefore, an increasing number of large American corporations, including Apple and Google, chose to relocate their businesses overseas to [...]

Silent Partnerships in Macedonia

Macedonia offers numerous opportunities to international business investors. In addition to low tax environment, governmental incentives for companies operating in high-tech sector, and other corporate benefits, Macedonian law allows the formation of silent partnerships. The opportunity to become a silent partner may be of interest to persons who would like to receive income without the need [...]

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