Category Archives: Tax

International Financial Services: Dubai and Abu Dhabi authorities collaborate

This collaboration has at the heart of it the application of the highest global standards, standards which are being used as a means to maintaining competitiveness. Given the greater scrutiny that jurisdictions that operate international financial services centres have come under in recent times expect to see more of these types of collaborations. Continue reading

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Multilateral Tax Convention Becomes Law In Singapore

The May 1 effective date comes some four months after Singapore ratified the Convention January 2016 and is part of effort to increase tax transparency and combating cross-border tax evasion in Asia’s top financial and business hub Continue reading

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Poker players must pay taxes on their winnings in Germany

By: Rechtsanwalt (Attorney) Carsten Lexa, LL.M. The German finance court of Cologne has ruledthat poker is a game of skill.  The ruling is in response to poker player Eduard Scharf´s claims that his poker winnings shouldn’t be taxed because poker is a … Continue reading

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What Is The Best Way For Governments To Combat Global Tax Evasion?

Given the state of the global economy and the fiscal constraints many governments find themselves one would reasonably think that all is being done to locate, account and tax these monies? With a conservative $21 trillion out there, the results so far speak for themselves. Continue reading

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Jamaica Continues Apace to Become an International Financial Service Centre

Image rights generally speaking are intellectual property rights that are intended to protect the use of a person’s name, personality, distinctiveness, likeness and even gestures. Guernsey’s law, set to become active just in time for the London Olympics, will allow sports stars and other individual that derive a considerable part of their income from the exploitation of their image to better – from a tax and asset management perspective – manage the income from their image. For example the law would allow an “image individual” to separate the income they earn directly from doing their jobs and those gained from the use of their image. Continue reading

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Value In Use Or Value In Exchange, A Serious Tax Issue To Consider Before Bartering

By: Ainsley Brown In a previous post, As companies battle the recession, bartering comes in handy, Carsten Lexa a contributor here at Commercial Law International, gave us an introduction to bartering schemes and their advantages for cash strapped businesses battling … Continue reading

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Japanese Gov’t Mulls Over Radical Change To Inheritance Tax Policy

By: Ainsley Brown In a move to boost its faltering economy, the Japanese government is considering a radical alteration of its inheritance tax regime. The policy, if implemented and if it has the desired effect, could see trillions of yen … Continue reading

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Real Estate investment going up in the U.S. Say what?

By: Eran D. Grossman Yes that’s right.  With growing concern about a commercial real estate bust and home prices continuing to fall, real estate stocks are soaring.  What you say? Shares of Real Estate Investments Trusts, a/k/a REITs, are lucrative … Continue reading

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The UK Extents Tax Amnesty

By: Ainsley Brown In a very surprising move HM Revenue & Customs (HMRC) has extended it tax amnesty program – the New Disclosure Opportunity (NDO). The NDO was set to expire on November 30 of this year but has been … Continue reading

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Jamaica To Hire Baker & MacKenzie As Financial Centre Consultants

By: Ainsley Brown Jamaica is set to hire global legal giant Baker & MacKenzie (Baker) as its consultant on its new International Financial Centre (IFC). The deal, the details of which are still immerging, is subject to Cabinet approval and … Continue reading

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