IR Global, the world’s largest exclusive network of advisory firms is delighted to introduce Panos M. Anastasiou of PMA & Co. Ltd. Panos has joined IR as our exclusive Tax (Accountants) Member in Cyprus. PMA & Associates Ltd is a dynamic growing professional firm of Chartered Accountants which was incorporated in 2009 in Cyprus and offers […]
Annual CPA Australia Conference During the week, I presented a tax update paper for CPA Australia at their annual conference.With not much else going on in the world of tax this week, I have dedicated this edition instead to provide a little more detail on some of the issues discussed during the presentation. Employer Grouping […]
SOP to current tax Bill A SOP (supplementary order paper) to the current tax Bill making its way through Parliament (Taxation (Annual Rates for 2018-19, Modernising Tax Administration, and Remedial Matters) Bill) will: close the potential GST loophole recently identified by IR in respect of the sale of assets by a non-profit body. The […]
I will be in Berlin competing in a Euro Karate tournament this Sept. 22/23 and for a bit of fun I wanted to invite local members to come and watch / go for dinner. About the competition, the dates are: September 20-24, 2018 & this is the event link: https://iskf.com/iskf-euro-shoto-cup-berlin-september-20-24-2018/ competition days are the 22nd […]
GST Registration Effective Date SPS 18/03 has been released by IR, to provide the Commissioner’s views on a person’s effective GST registration date, and includes commentary on how she will apply her discretion, when the legislation provides for an alternative date to be used. Most of you will be aware that there are two types […]
POSTED ON JULY 18, 2018 BY ALEXANDRE CAILLE The concept of blockchain seems to draw its fame from the bitcoin but it is now rapidly implemented in quasi-all traditional business sectors. Blockchain is a decentralized and digitalized ledger accessible for the public at large. It is like a common file which everyone is able to […]
To be straightforward, it depends on the level of investment. Some international clients who want to have Lebanon as a Middle Eastern operations base have a representative office here instead of a Lebanese corporation. They only have admin or marketing staff in order to promote the product line, so it is not a taxable entity. […]
The major tax pitfall we have in Lebanon is not directly linked to the tax itself, but to the entity’s performance. Most of our cases have been to do with compliance, involving lots of companies which never really paid attention to the laws around residency. There are regulations that define who is tax resident or […]
Traditionally, we have always had holding companies attracted to Lebanon. There is an added value because of the bank secrecy laws which are still in effect for anyone who is not American. Lately though, the Lebanese Government has been trying to make it even more attractive for foreign companies to set up in Lebanon. This […]
GST & Trust Distributions Recently I commented on a draft interpretation statement issued by IR, which considered the GST issues associated with a trust that makes a distribution of goods that form part of its taxable activity, to a beneficiary of the trust. IR’s views in that regard, have now been finalised via the issue […]
Are you a performing artist, composer or producer in Canada? Listen up! It may seem like tax season is a long way off, but there is no time like the present to start planning.
Liability as Agent A recent TRA decision made me think it might be useful to provide some narrative on when a person can be made personally liable for the income tax and GST debts of their company, a question which often arises from clients. Both income tax and GST legislation contains a provision, that the […]