/Tag:income

Germany: A Surprising Bitcoin Tax Haven

For many investors, 2017 marked the first year they seriously got into Bitcoin. What had been a novelty that was only understood and traded by geeks, barged into the mainstream consciousness with a 1,308% rise in value. And where the money flows, the legislators go. They may be a little slow to catch up, but that [...]

Italy: Approved flat taxation of foreign income

In December 2017, the Italian parliament approved a new Italian law which introduced a flat taxation on foreign income generated by new non-domiciled Italian residents. To benefit from the regime, the qualifying individuals need to submit applications to the Italian tax authorities. Scope Taxpayers whose applications have been approved are subject to a flat tax on [...]

New Dutch Tax Plans

After long political discussions and negotiations, four major Dutch political parties reached an agreement and formed a coalition. The new Dutch government will likely be presented to the public on 26th of October 2017. The coalition presented its policy plans for 2017-2021. Together with changes in the fields of employment, education, healthcare, immigration policy, the coalition [...]

Costa Rica: interesting for asset protection and tax purposes?

Costa Rica is an attractive investment destination in Latin America for many reasons, including successful economic performance, social achievements, and stable fiscal environment. The most significant feature of the current Costa Rican taxation system is that it operates on the basis of the territoriality principle. Therefore, companies and individuals based in Costa Rica are taxed only [...]

Trump’s Corporate Tax Reform

The controversial US president Donald Trump is about to introduce his game-changing tax reform plan, or, as he calls it, something “phenomenal in terms of tax”. During the election campaign and immediately after the elections in November 2016, president Trump signalled about his plans to cut corporate tax rates in order to help businesses that currently [...]

Georgia amends its Tax Code

Georgia continues to increase its level of attraction as a business hub. On the 1st of January 2017, the latest amendments of the Georgian Tax Code came into force. The new fiscal regime is simplified and made more liberal, in order to stimulate the country’s economic growth. In order to improve its investment environment, Georgia took [...]

Poland reduces Corporate Income Tax

On 1st of January 2017, the new amendments of the Polish Corporate Income Tax (CIT) and Personal Income Tax (PIT) acts entered into force. The major legislative change refers to reducing the CIT rate for small corporate taxpayers and start-up businesses. According to the new amendments, companies which report gross sales of less that EUR 1,2 [...]

Rich Belgians massively move to Switzerland

Belgium witnesses a new emigration tendency. Over the last few years, an increasing number of rich Belgian citizens decided to leave the country and relocate to more tax-friendly jurisdictions, such as Switzerland and Luxembourg. According to the Belgian Federal Public Service of the Interior, more than 22.000 Belgians reside in Switzerland. The reported number has increased [...]

Golden Visa In Cyprus

In 2016, the Cypriot government revised the laws governing the Golden Visa Program, i.e., a governmental program that allows non-EU citizens who invest in the country to obtain permanent residence in Cyprus. The program aims to attract wealthy foreign citizens to the third most populous island in the Mediterranean. If the program application is approved, permanent [...]

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 [...]