/Tag:taxation

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 [...]

Free Zones in Georgia

Georgia, a gateway between Europe and Asia is a compelling jurisdiction, which offers competitive business advantages to start-ups and established enterprises. In order to maintain economic growth, enhance industrial competitiveness, and attract foreign investment, the Georgian government adopted a law providing for the establishment of four free industrial zones in strategic locations, namely, the sea port [...]

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) [...]

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 [...]

Taxation in Georgia

Georgia, a country in the Caucasus region, is located on a crossroad between European and Asian markets. Due to Georgia’s business advantages, such as a low-cost workforce, a stable political environment, an attractive tax regime, and a well-developed infrastructure, an increasing number of foreign investors choose to outsource their business activities in Georgia. Moreover, in order [...]

The New EU Succession Rules

The new EU Regulation No 650/2012 came into force in 2015 in order to simplify and harmonize the legislation related to succession and wills within the EU. The Regulation aims to address international succession issues. The Regulation applies to persons who die from 17 August 2015 onward. The Regulation aims to avoid parallel succession-related court proceedings [...]

Private Austrian Foundations

The Austrian private foundation is a type of legal entity which allows the grantor to determine the internal organization and the aim of the entity. Although most aspects of private foundations resemble those of limited companies, Austrian private foundations provide grantors with a greater flexibility to:(1) protect and maintain assets, (2) tailor the foundation according to [...]

LUXEMBOURG IS DEAD!

On 29 th of February 2016, the Luxembourg government announced a new set of tax measures to be implemented by 2017. The measures will amend the corporate and personal taxation regime. The following amendments in Luxembourg tax legislation may harm the status of Luxembourg as an attractive destination for high net worth individuals: • The individual [...]

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