/Tag:tax

Types of Investments Needed to Get Residency in Costa Rica

To be able to live in Costa Rica for more than 90 days, you must qualify as well as establish legal residency. There are several ways of getting residency in Costa Rica. Our focus here is on getting residency through investment. Costa Rica's immigration laws are better than most countries. The country is open to people [...]

Belarus: 0% tax for blockchain companies

Savvy companies who are looking to exploit blockchain technologies or start-ups interested in funding their plans with an initial coin offering (ICO) do well to consider their base of operation. After all, the tax difference between an office in one country and an office in another may run into the double figures. This Eastern-European country gained [...]

Belgian tax authorities cannot screen payment cards

On 2nd of February 2018, the court of first instance in Antwerp announced a ruling prohibiting the Belgian investigative tax authority Bijzondere Belastinginspectie (BBI) from obtaining information about payment transactions from payment service providers without a specific evidence of tax fraud. The background of the case The Belgian payment processor Wordline N.V. together with other five [...]

Tax Freedom Day in Bulgaria

Bulgaria has one of the earliest Tax Freedom Days in the EU. In 2018, Bulgarians will celebrate this day on 13th of May. It means that a Bulgarian employee has to work in total 132 days per year to pay all applicable taxes. To break down the entire period of working for taxes, Bulgarians work 35 [...]

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 [...]

The New U.S. Tax System

On 22nd of December 2017, the U.S. president Donald Trump signed a ‘Tax Cuts and Jobs Act’, which introduces the most drastic changes of the U.S. Internal Revenue Code since 1986. The new U.S. tax bill, which becomes effective in 2018, includes a wide range of tax reforms that changes the rates of individual and corporate [...]

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 [...]

Tax exemption on small cryptocurrency transactions in U.S.

Transactions using cryptocurrencies, such as Bitcoin, receive more and more attention from tax authorities. Some of the developed countries have already introduced laws requiring Bitcoin traders to report their transactions for taxation purposes. For example, the U.S. Internal Revenue Service (IRS) started a hunt for users of cryptocurrencies as a relatively small number of those users [...]

Should Facebook be taxed 10$ per user?

Many Internet businesses (e.g., Google, Amazon, Facebook, and Alibaba) generate significant revenues. In comparison with their offline counterparts, they usually pay less taxes. To reduce their taxation burden, Internet companies establish their operations in low tax jurisdictions (e.g., Luxembourg and Ireland), conclude tax deals (e.g., in 2015, Facebook enjoyed a tax credit of GBP 11,3 million [...]

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 [...]