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

Switzerland will implement OECD’s minimum tax rate On 23rd June 2022, the Swiss Federal Council published the amendments to the constitution to implement a minimum tax rate for certain companies recently agreed by the OECD and G20 member states. In fact, in October 2021, the Organisation for Economic Co-operation and Development (OECD) published key parameters...Read More

New Zealand introduces minimum standards for financial reporting of trusts At the beginning of March, the New Zealand Government introduced a series of more stringent disclosure requirements for taxable domestic trusts. For income years following the 31st March 2022, trustees will have to submit to the Inland Revenue Department (Inland Revenue) a statement of profit...Read More