Although Tax Day passed on April 18, 2022, for some taxpayers a different type of tax deadline is approaching. Many tax attorneys, like myself, know that June 30, 2022, is the last day on which certain taxpayers who had capital gains in 2021 can defer paying tax on those gains until 2026 by investing them…
To print this article, all you need is to be registered or login on Mondaq.com. Gianninis v Commissioner, TC Memo. 2022-65 June 23, 2022 | Urda, J. | Dkt. No. 20132-19. Opinion Short Summary: This case involves the disputed liability for (1) frivolous arguments, (2) the imposition of accuracy-related penalties on underpayments, and (3) penalties…
28 June 2022 Khaitan & Co To print this article, all you need is to be registered or login on Mondaq.com. The Finance Act, 2022 (FA 2022) amended the Income-tax Act, 1961 (IT Act) by introducing a new taxation regime in relation to Virtual Digital Assets (VDAs) wherein: (i) a 30% tax has…
One of the perennial items on everyone’s end of financial year checklist is the proper execution of trust resolutions, ensuring that trustees are not taxed on trust income at the top marginal rate (45%). For family trusts in particular, these distributions often require additional consideration prior to the end of this financial year following some…
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The Tax Court in Brief – June 20th – June 24th, 2022 Freeman Law’s “The Tax Court in Brief” covers every substantive Tax Court opinion, providing a weekly brief of its decisions in clear, concise prose. For a link to our podcast covering the Tax Court in Brief, download here or check out other episodes…
27 June 2022 Webber Wentzel To print this article, all you need is to be registered or login on Mondaq.com. SARS has announced the deadline dates for filing income tax returns for the 2022 year of assessment as well as the details of those exempt from filing returns. On 3 June 2022, SARS…
To print this article, all you need is to be registered or login on Mondaq.com. The Supreme Court of Canada (“SCC“) in Canada (Attorney General) v. Collins Family Trust2022 SCC 26 (“Collins Family Trust“)recently set out that a series of transactions cannot be undone using “rescission” in order to avoid an unexpected tax liability, even…
Read More “Unintended Tax Liability? Supreme Court Of Canada Says No Take-Backs – Tax Authorities” »
A proposal for changes in the Norwegian Tonnage Tax System was submitted on Friday 24 September. In this article, our tax lawyers consider how these changes will affect shipping companies and the shipping industry if they come into force? Please contact us if you have any questions. Companies that fulfill certain conditions may opt to…
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From 1 July 2023 the UAE will introduce its first ever federal corporate income tax (CIT), effective across all seven individual Emirates. Most UAE companies have little experience of corporate income taxation but time is now short. What should they expect and how can they prepare? Most non-energy businesses in the UAE have no experience…
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To print this article, all you need is to be registered or login on Mondaq.com. What does this mean for your company? The special bilateral agreements signed between Luxembourg and the Belgian, French and German authorities concerning cross-border workers in the context of the COVID-19 pandemic will come to an end on 30 June 2022…
