/Tag:income

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 [...]

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 [...]

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 [...]