Canada: Taxes In Share Purchase Agreements: Pre-Closing Tax Liabilities

The purchase price for the shares of a target company is typically based on either the target’s financial statements as of a specified date prior to closing or an “averaging” of the historical performance of the business (according to an agreed formula) and often with reference to “EBITDA”1. Such agreed purchase price is typically cash-free and debt-free and assumes that the business will have a customary amount of “working capital” to permit the business […]

By |February 26th, 2019|

Gibraltar: Corporate Tax Guide 2019

1. Types of Business Entities Commonly Used, Their Residence and Their Basic Tax Treatment
1.1 Corporate Structures and Tax Treatment
Businesses generally adopt a corporate form which has a separate legal personality and is taxable as a separate legal entity. The 2014 Companies Act allows for the incorporation of both private companies and public companies.

A private company under Gibraltar law is a company that restricts the right to transfer its shares and does not offer its […]

By |February 25th, 2019|

House Votes Today On ‘Tax Reform 2.0,’ But Senate Action Unlikely Before Elections

The House today is likely to approve legislation to make permanent the individual and small-business tax cuts that Congress enacted in 2017, but the Senate won’t consider the measure before the November midterm elections.

Today’s vote is part of a three-bill package of tax relief dubbed “Tax Reform 2.0.” The House on Thursday approved legislation by Rep. Mike Kelly, R-Pa., that would expand retirement savings incentives and legislation by Rep. Vern Buchanan, R-Fla., to expand tax breaks for startups.

The House passed the retirement savings bill […]

By |October 4th, 2018|