A Cyprus International Trust is one of the most attractive ways to protect your assets. The establishment of international trusts and its related legal frameworks allow individuals to plan for the transferring of accumulated wealth to other family members or Group companies with specific instructions. This vehicle of wealth protection and transferring of assets […]
Background Double taxation of income – first, in the hands of the companies and thereafter in the hands of the shareholders on distribution as dividend is prevalent worldwide and is the classical system of dividend taxation. The manner in which dividend income is taxed in India has undergone changes over the years. In 1997, India […]
A variety of film tax incentives has developed around the world to encourage the production of films and the expression of local stories. Although the film industry has been long established in places like Hollywood or Bollywood, global destinations provide the potential for new and interesting locations in movie production. Film tax incentives can be […]
Aiming to increase the overall competitiveness and fairness of the tax system for foreign nationals, the Cyprus government introduced the concepts of ‘domicile’ and ‘non-domicile’ (Non-Dom) through an amendment of the Special Contribution for the Defence of the Republic of Cyprus Law of 2002 (SDC Law) in July of 2015. The Aspen Trust Group explores how the Non-Dom […]
Why support MSMEs The micro, small and medium enterprises sector in India just like the population, only second to China. In financial year 2019, the total number of MSMEs in the country was more than 63 million. The majority comprised of micro enterprises, with a higher number in rural areas than urban parts of the […]
Resident or Non-Resident? An Individual is treated as a tax Resident in India if he is in India for more than 182 days in the current previous year or if he is in India for 60 days or more in the current previous year and 365 days in the preceding four previous years. It is […]
The novel coronavirus disease 2019 (COVID-19) outbreak was a major shock for the global economy, with severe uncertainty about the duration and intensity, disrupting production, trade and business. The actions being taken to prevent the collapse of healthcare systems around the world, threaten to create a deep economic crisis like no other, caused by the […]
Although their function has changed throughout the years, holding companies have always been crucial components of the business landscape and the world economy. The emergence and adaptations of the concept of holding companies have come a long way from the days of the Theodore Roosevelt administration and Rockefeller’s business establishments. Although sometimes thought of negatively […]
Recently the Apex Court has pronounced a ruling[1] against the appellant for non-deduction of tax at source for the payments made to a non-resident. Background: PAK-INDO-LANKA joint management committee (“PILCOM” or “Assessee”) was a committee formed by the cricket boards of India, Pakistan, and Sri Lanka for jointly hosting the 1996 ICC cricket world cup […]
Intellectual Property Law / June 9, 2020 Through the establishment of the Statute of Monopolies in 1624 and the Statute of Anne in 1710, Intellectual property (IP) evolved into valuable assets to businesses, whereas previously they had been afforded little to no legal protection. The creation of the World Intellectual Property Organization (WIPO) in 1967 cemented IP rights on an international level. Since […]
IR Global, the world’s largest exclusive network of advisory firms is delighted to introduce Amit Ashok Purohit of NMK & Co LLP, Chartered Accountants. Amit has joined IR as our exclusive Corporate Services Member in India. N M K & Co LLP, Chartered Accountants, is an accountancy firm established in 1982, and is headed by […]
IR Global, the world’s largest exclusive network of advisory firms is delighted to introduce Nilesh M Kapadia of NMK & Co LLP, Chartered Accountants. Nilesh has joined IR as our exclusive Corporate Services Member in India. N M K & Co LLP, Chartered Accountants, is an accountancy firm established in 1982, and is headed by […]