Brexit and implications for UK enterprises The greatest advantage of the European Union is the economical and uninterrupted access to the EU single market. There is a range of benefits that can be mentioned, such as cash flow savings from the absence of VAT charges between businesses for intra-EU provision of services, ‘passporting’ of the licenses financial institutions have from…

On 30 June 2016, the new tax law on implementing automatic exchange of information (AEOI) in Hong Kong has become effective. AEOI is the international standard for automatic exchanging of financial account information in tax matters as published by the Organization for Economic Co-operation and Development (OECD) in July 2014. Hong Kong targets to identify appropriate jurisdictions as its potential…

The Reanda International network is pleased to bring to you the latest issue of PRISM – the quarterly tax newsletter, which is part of Reanda’s effort to stay in touch with our clients by sharing updates and insights on the recent taxation changes and current hot topics. Please click here to download a digital copy of the 3rd quarter 2016…

First, the lag of information acquisition of equity transfer and the low of timeliness in dealing with cases. According to Public Notice [2015] No. 7, both parties that indirect transfer of property and Chinese resident enterprise that indirect transfer its equity can actively or report the transfer to the tax authorities in accordance with the requirement of tax authority and…

A big step towards strengthening the legal and regulatory framework The UAE government has introduced UAE Federal Law No. 2 of 2015 concerning the Commercial Companies (the new CCL) which was published in the Official Gazette on 31st March 2015 and came into force on 1st July 2015. The time allocated to comply with the new requirements is up to…

In the letter of April 09, 2014 No. 03-00-RZ/16236 the Ministry of Finance of the Russian Federation has touched upon a subject of the actual recipient of the income (the beneficial owner). The Ministry of Finance, in particular, has specified in this letter that at application of the international agreements regarding granting a right to use privileges (the lowered rates…