Russian De-Offshorisation Legislation And Voluntary Disclosure: Which Way Now?

The new law on the taxation of controlled foreign companies (the ‘CFC’ law) and other anti-offshore measures effective as of 1 January 2015 have raised a number of questions for clients and advisers. A number of changes to the new laws were long anticipated and have now been passed by the Government. We briefly comment here on two key laws introducing amendments to the CFC rules (Law of June 8, 2015 #150-FZ) and the […]

By |June 17th, 2015|

Tax Changes On The Horizon For Expatriates Working In Australia [Littler Mendelson]

In May 2015, the Abbott Government announced that, as part of its objectives for the Australian federal budget, it will reform the tax residency rules by creating tougher rules and higher income tax bills for the approximate 1.2 million temporary foreign workers who are granted work rights in Australia each year.  Treasurer Joe Hockey announced that the reform is expected to raise up to $540 million AUD in tax revenue over the next three years.  Without […]

By |June 15th, 2015|

Budget Take Two: Will Election Promises Be Made A Reality? [Withers LLP]

Income tax (along with National Insurance and VAT) is to be the beneficiary of the tax lock, so there will be no increases in tax rates over the course of this parliament. The most notable point of this legislation is what it leaves out, so there is no commitment to maintaining or raising the income tax thresholds. With the Government committed to raising the basic rate threshold, taxpayers in the higher bands should not […]

By |June 12th, 2015|