Ivan Lazarov’s Post

🎉 Another victory in the CJEU!!! 🎉 Yesterday, the CJEU announced its judgment in another case where I represented the client. I managed to win once again 😊🏆. Thus, I consolidated my position as a tax advisor who represented Polish clients in the largest number of cases before the CJEU and won the most such cases 😉✨. The case concerned the determination of the VAT tax base in the case of a contribution in kind and the scope of the right to deduct VAT. 🧾 Over the last dozen or so years, a practice has developed (both of Polish tax authorities and administrative courts) according to which the VAT tax base was determined based on the nominal value of shares acquired in exchange for a non-cash contribution. In the case of share premium, such a concept led to absurd results - VAT was not calculated based on the actual value established by the parties to the transaction, but on a completely economically artificial criterion, which was the nominal value of shares. 💼📉  In such cases, the tax office questioned the right of the purchaser of the contributed item to deduct VAT beyond the amount resulting from the nominal value of the shares acquired. I'm glad that this concept will finally cease to function, because it must be admitted that it was quite absurd... 🚫 #CJEU #TaxLaw #VAT #LegalVictory #TaxAdvisor #EuropeanLaw #JusticePrevails #LegalExpertise #PolishLaw #TaxReform #VATLaw #EULaw #CourtVictory #ProfessionalAchievement #TaxJustice

The real challenge of marketing for the topic "Australian taxes on foreign property owners" is to make an extremely boring topic a little less boring! So we hope you enjoy our skit - as "Aunty May" calls us from Malaysia as she read our article in The Star Publications about the new Australian tax rules to come in 2025 for overseas property investors. I told her that from January 1, 2025 - Withholding tax will increase from 12.5% for properties sold from $750,000 to 15% for all properties (binning the $750K treshold). Nonetheless, she was a little shocked. I explained that the first step is to apply for a tax file number, but we can also help with the process. Thanks Aunty May (aka. Karina Foo) for your phone call, we sincerely look forward to your email 😅 If you've read to this point, keep watching till the end for the Bloopers! For your tax matters, email us at [email protected] or visit www.tjdaccounting-fi.com for more information. #AustralianTax #ForeignInvestors#PropertyInvestment #ATO #TaxCompliance #Taxreturn #propertyinvestor #propertyinvestment #nonresidentinvestor #capitalgains #capitalgainstax #internationalaccountant #essendonaccountant #melbourneaccountant #melbourneproperty #sydneyproperty #BrisbaneProperty #perthproperty #adelaideproperty #australianproperty #propertytaxes #overseaspropertyinvestor #taxfilenumber

❗ ❗ Regulatory Alert: New Withholding Tax Regulations, 2024 The Minister of Finance and Co-ordinating Minister of the Economy, Mr. Wale Edun, has issued new Withholding Tax (WHT) Regulations titled “Deduction of Tax at Source (Withholding) Regulations, 2024”. The Regulations have introduced changes that will impact the computation, remittance, and administration of withholding tax across various sectors in Nigeria. In this Regulatory Alert, we highlight key changes brought about by the Regulations and the potential improvements and challenges that the Regulations may result in. #RegulatoryAlert #Tax  #TaxLaw #WithholdingTax

Greece transposes into law Minimum Tax Rate for MNE groups and large-scale domestic groups (BEPS Pillar Two)

🇦🇺💰⌛️ Australian GAAR Extension - When Will We See the Draft Law? One of the FY24 Budget measures was to extend the general anti-avoidance rule (GAAR) in Part IVA to capture 2 additional kinds of schemes, being those for the dominant purpose of: 🌏 Obtaining a foreign tax benefit. At present, if the dominant purpose of a scheme is to obtain a foreign tax benefit, Part IVA does not apply. Under the proposed changes, any Australian tax benefit obtained in such circumstances would be cancelled. 📉 Reducing a withholding tax rate. At present, the GAAR only applies to complete avoidance of withholding tax, not to a rate reduction (eg artificially structuring into a treaty or domestic law WHT rate reduction). The timing is starting to reach a critical point. 📆 The changes are proposed to have effect from 1 July 2024, but there is only 11 weeks left now. Of those, only 2 are Parliament sitting weeks for both houses. There’s a few other sitting days for each house. 📄 That means if the law is going to be passed by 30 June, we are going to need to see the draft law for consultation very soon. #taxlaw #incometax #internationaltax #transferpricing #gaar

I’m glad to be a speaker among with my co-partners at STI Taxand Costas Savva and Demis Ioannou at the upcoming webinar 🖥️ ‘’Financial Transactions: Taxation of Interest Under Cyprus Tax Law 📜 (e.g. NID, Transfer Pricing), Tax Treaties and EU Tax Law’’. It promises to be an enlightening experience for all attendees as we will delve into the intricacies of Cyprus Tax Law, including the Notional Interest Deduction (NID) and Transfer Pricing considerations. This event is a must-attend for professionals seeking to deepen their understanding of tax treaties and EU Tax Law's impact on financial transactions. It's an opportunity to stay ahead in the dynamic field of taxation, armed with knowledge 📘 that can navigate the complexities of interest taxation. The Institute of Certified Public Accountants of Cyprus - ΣΕΛΚ(ICPAC) is known for organizing informative sessions, and this webinar is no exception. So, mark your calendars for November 6th, and prepare for a session brimming with practical insights and actionable knowledge. See you at the webinar! #taxtreaty #corporatetax #taxconsultant #transferpricing #internationaltax #taxand #stitaxand

🇮🇳 QUESTION: Please give examples for Notified Jurisdiction Areas (NJA)? What happens if you have to trade within such jurisdictions? 🌴 🌴 🌴 Did you know that trading with entities in Notified Jurisdiction Areas (NJAs) like Cyprus could lead to higher tax rates, disallowance of deductions, and increased scrutiny by tax authorities? In this Q&A, we explore the concept of Notified Jurisdiction Areas (NJAs). You can learn about the jurisdictions classified as NJAs, including Cyprus, and their implications for businesses and individuals engaging in financial transactions with these regions. From higher tax rates and non-deductibility of expenses to increased scrutiny and stringent transfer pricing regulations, trading with NJAs requires careful consideration and compliance. QUESTION POSTED BY: Student TOPIC: Residency & Treaties PROGRAMME: Postgraduate Diploma in International Taxation WEEK: 18 - Introduction to Treaties LECTURER: Renier van Rensburg The #PostgraduateDiplomaInInternationalTaxation has been brought to you by The Academy of Tax Law, Informa Connect, and Middlesex University (validation partner). #TaxLaw #NJA #NotifiedJurisdictionAreas #IndiaTax #TaxCompliance #InternationalTax #TaxHaven #IncomeTax #TaxRiskManagement #AcademyOfTaxLaw https://lnkd.in/dJ4mEdQU

Businesses dealing with Notified Jurisdiction Areas (NJAs) or Tax Havens face significant challenges, including higher withholding tax rates, increased scrutiny, and strict transfer pricing regulations. Go through this question posted by one of our Postgraduate Diploma in International Tax student and answered by my fellow lecturer, Renier van Rensburg. #TaxLaw #NJA #NotifiedJurisdictionAreas #IndiaTax #TaxCompliance #InternationalTax #TaxHaven #IncomeTax #AcademyOfTaxLaw #MiddlesexUniversity The Academy of Tax Law Informa Middlesex University

There seem to be a lot of developments around Most Favoured Nation (MFN) clauses in tax treaties at the moment. Here is an interesting one. Sweden has a MFN clause in its double tax agreement (DTA) with South Africa. The MFN clause resulted in a 0% dividend withholding tax rate, because that was the rate in the South African treaty with Kuwait (South Africa's 'most favoured nation' in this context). However, the South Africa-Kuwait DTA has just been amended by Protocol to introduce a 5%/10% rate, and this in turn has had the same impact on Sweden. Adding to the complexity, the Protocol is from 2021 but only entered into force on 2 Oct 2024, and is retrospective to 1 April 2012. Moral of the story? When looking at MFN clauses, you need to keep track of every other treaty that the counterparty has in force, and the effective dates.

Portugal ensures a network of 78 conventions to prevent international double taxation (CDT). The fundamental purpose of CDTs is to avoid the duplication of tax on the same taxable event in two different countries. These bilateral instruments are multifaceted, serving various functions, including promoting foreign investment, providing legal security to investors, and ensuring that economic operators can act efficiently while complying with different legislations. CDTs allocate taxation rights between contracting countries, ensuring equal rights, avoiding differences in tax treatment, promoting tax confidence, preventing tax evasion, and fostering international cooperation in tax matters. #CDT #doubletaxation #portugal