In this issue: Finance Act 2020 as it relates to: Company Income TaxPersonal Income TaxValue Added TaxCustom & ExciseCapital Gain TaxPetroleum Profit TaxStamp Duties Finance Act 2020 The finance Bill 2019 was signed to law on 13th January, 2020 by the president Muhammadu Buhari.The law is set to reform the tax regime by amending several […]
First of all, Israelis who are American citizens or residents must report all their income to America, even if they don’t live there. Some Israelis forget this and do not file an American tax return while they live and work here in Eretz Yisrael. A good example is the American citizen living and working in […]
Introduction The American tax law states that American citizens and American residents who leave inheritances require an estate tax return to be filed if the amount they leave reaches over a certain threshold when they bequeath to an heir. (The exact amount of this threshold changes year to year and so should be checked with […]
AEOI IR Letters In recent months you may have commenced receiving letters from IR, containing a subject line which reads – “Automatic exchange of financial account information”. The letters commence with an explanation of the background to the OECD’s AEOI project, which uses a common reporting standard (CRS) to facilitate the sharing of financial account […]
In America, not for profit organizations usually have tax & financial reporting responsibilities. Sometimes a Yisraeli nonprofit will open an American company to give American donors the chance to take tax deductions for their contributions to the Yisraeli entity. The 501 (c) (3) application is something Weinstein & Company can help you prepare and submit. Obtaining […]
While in other countries operations of Mergers and Acquisitions of companies have a very significant market, totalizing thousands of transactions annually, in Brazil, this practice is still incipient. Despite this, the outlook is positive, as over the past few years it has gained more prominence due to the decentralization of local markets that brought us […]
Clients who live here in Eretz Yisrael and have American reporting responsibilities include American citizens, permanent residents who have an American resident visa or green card, and people who live in America for at least 183 days in a given year even if they are on a temporary visa. If you fit into one […]
In case you missed it Our pristine countryside will soon be littered with a multitude of billboards, as big toothy grins suggest “you should vote for me”, due to our esteemed PM having announced 19th September 2020 as being the date for this year’s election. Arguably for some of us, it will be the curtain […]
Canvased in a previous AWIR when the drafts were initially released for public feedback, IR have now released the finalised versions. QB 19/15 deals with a scenario where a beneficiary of the trust rents out the trust property for short-stay accommodation, and considers the question of who should declare the income for tax purposes and […]
Debt forgiveness qualifies for Donation Tax Credit? Well it did at least in the eyes of both the High Court and the Court of Appeal, where a taxpayer had established a charitable trust, advanced a sum of money to the trust by way of loan, proceeded to forgive a portion of the debt annually and […]
I am really excited to tell you about what I have been working on… In 2019 I set myself the personal target of launching a podcast, as you may have heard, at the end of last year I launched my podcast, Evolve to Succeed. With four episodes released already, I am looking forward to recording […]
From April 2017, the rules changed for individuals working through a PSC (“Personal Service Company”) / intermediary for clients in the public sector. Previously the PSC/intermediary would need to decide their worker status, however, from April 2017, the client / fee-payer (being the public sector organisation) would need to decide the workers status. The rules […]