Tax holidays for entrepreneurs Federal law from 29 December 2014 N 477-FZ introduced tax holidays for entrepreneurs. According to article 346.50 the Russian regions can fix the tax rate of 0 per cent for entrepreneurs registered for the first time, and doing business in the field of industrial, social and (or) scientific. Tax report for personal income Companies have to…

Deferment of import VAT payment for export SME Under the current Value Added Tax Law (“VATL”), a taxpayer is required to pay import VAT to the customs office upon declaration for import of goods. Under the proposed revision, export SME satisfying certain conditions (to be regulated in the Presidential Decree of VATL) will be entitled to the deferment of the…

The first policy is a matter of tax relief incentives in the revaluation of company assets, both in the State Owned Enterprises (SOEs or “BUMN”) and private parties. Currently, companies are reluctant to do the revaluation of assets because the tax rate is too high. Revaluation of asset is a readjustment of the value of the company's assets in accordance…

The Cyprus parliament voted a number of additional incentives to entice international businesses moving into the island. These incentives mostly aim to attract physical relocation of business premises and high caliber employees to Cyprus. Doing business in a tax efficient environment - Corporation taxTrading profits of a Cyprus tax resident company are taxed at the rate of twelve and a…

To introduce a new system for claiming benefits by non-resident taxpayers under China's double tax treaties, the PRC State Administration of Taxation issued Announcement [2015] 60 (Announcement 60) on 27 August 2015 with an effective date of 1 November 2015. Announcement 60 supersedes the existing system under Guoshuifa [2009] No. 124 which relies on “pre-approvals” by the PRC tax authority…

Possible personal tax obligation in Germany for employees from Japan - Retirement Allowance and secondment to Germany If Japanese are entitled to a “Retirement Allowance” they mostly get a one-off payment in addition to an old-age pension. In case of being delegated to Germany during a part of their working life, there is a possibility to personal tax duty in…