US: ACCESS TO BENEFICIAL OWNERSHIP INFORMATION IS GETTING WIDER More and more entities will have access to information about the beneficial ownership of companies recorded by the US government’s Financial Crimes Enforcement Network (FinCEN) under the Corporate Transparency Act (CTA). The CTA, lately enacted into law as part of the National Defense Authorization Act, amended...Read More

COLOMBIAN TAX REFORM BECOMES LAW The president of Colombia, Gustavo Petro, sanctioned on 13 December the tax reform promoted by his government, which has become law and will start to be in force as of January 2023. The new law, centrepiece of new president economic policies, will raise an additional 20 trillion pesos ($4 billion)...Read More

TAX RESIDENCY IN THE EMIRATES: A FIRST LAW TO PROVIDE CLARITY The recent proposal of the Chamber of Deputies (Congreso de los Diputados) is likely to be a major shock to foreigners who hold real estate in Spain through one or more non-resident entities. In addition to the net wealth tax (NWT), the proposal also...Read More

SPAIN A SOLIDARITY TAX ON REAL ESTATE HELD BY FOREIGNERS The recent proposal of the Chamber of Deputies (Congreso de los Diputados) is likely to be a major shock to foreigners who hold real estate in Spain through one or more non-resident entities. In addition to the net wealth tax (NWT), the proposal also provides...Read More

Hong Kong: foreign-sourced income will soon be taxed 2023 could represent a watershed for Hong Kong’s corporate taxation. The Inland Revenue Amendment Bill 2022 (about Taxation on Specified Foreign-sourced Income), gazetted on 28 October 2002, is now under scrutiny by the Legislative Council of Hong Kong and is expected to come into force in 2023,...Read More