Employer issued Crypto-Assets Ruling finalised IR has now finalised its public binding ruling BR 19/03: Income tax – Employer issued crypto-assets provided to an employee, which provides the Commissioners’ view as to the income tax consequences of the transaction. BR 19/03 only has application where the employer is issuing crypto-assets (e.g. an ICO), the employee […]
Travel to a distant workplace OS IR has released draft operational statement ED0217, which considers the taxation issues associated with employer-provided travel from an employee’s home to a distant workplace. A distant workplace is defined as one which is a workplace that is not within reasonable daily travelling distance of the employee’s home. Consequently if […]
IR Global, the world’s largest exclusive network of advisory firms is delighted to introduce Mohamed Boumesmar of Audicis. Mohamed has joined IR as our exclusive Tax (Accountants), Audit & Assurance Services and Accounting Services Member in Morocco. Mohamed Boumesmar is Chartered Public Accountant since 1996. Born on January 27, 1963, Mr. Boumesmar now has more than 30 […]
We have the power! The recent passing of the Taxation (Annual Rates for 2019-20, GST Offshore Supplier Registration, and Remedial Matters) Act 2019, has extended the Commissioners care and management role, by giving her the power to either modify how tax laws are to apply (by way of an Order in Council recommended by the […]
Crowe Soberman LLP welcomed Chief Operating Officer, Susan Hodkinson, to the firm’s partnership, effective July 1, 2019. Managing Partner Jerry Cukier says “We look forward to Susan’s continuing leadership and guidance as COO, and to Susan and the HR team’s contributions to the growing advisory and consulting business in the firm.” Since joining the firm in 2007, […]
Time for a Promo… It has been a surprisingly quiet time in the tax updates arena over the past seven days, in an otherwise frantically busy time of the year, as the in-flow of 2019 year-end related tasks (tax returns, financial statements) engulfs us all. I thought there would be no better time therefore, to […]
In a previous edition of AWIR, I provided an update with respect to two draft Public Rulings that had been released for consultation, which covered the issue of the income tax treatment of crypto-assets received by employees as part of their regular remuneration and bonuses. To mitigate any potential confusion, the income tax issues surrounding […]
QUESTION ONE – What are the most common structures used when international clients want to form a company in your jurisdiction? Any examples? The most common structure used by international businesses operating in the US is the corporation. A corporation is organised under the laws of a specific state in the US, and each state […]
Employer-Issued Crypto-Assets A new draft public ruling (PUB00344), examines the application of the employee share scheme rules and the associated income tax treatment, where an employer has issued to an employee, in connection with that persons employment, a crypto-asset which satisfies the s.YA 1 definition of a “share”. The ruling only applies to employees and […]
QUESTION ONE – What are the most common structures used when international clients want to form a company in your jurisdiction? Any examples? Foreign companies usually set up their subsidiaries or branches in Taiwan when they decided to invest in Taiwan. The analyses of taxation in Taiwan show that profit-seeking enterprise income tax is charged […]
Non-Resident Entertainers & Sportspersons IS Further to the original consultation document PUB00317, IR has now released the finalised version of its statement clarifying the circumstances in which an exemption from schedular payment withholding tax may apply to payments being made to non-resident entertainers and sportspersons. The exemption can apply to activities or performances which: occur […]
QUESTION ONE – What are the most common structures used when international clients want to form a company in your jurisdiction? Any examples? Offshore clients looking to establish a New Zealand (NZ) presence, most often arrive on our doorstep with the pre-conceived notion that a standard NZ company is the best trading structure for them […]