United States: Missouri Enacts Legislation Providing For Sourcing Of Services And Intangibles Under Optional Single Factor Formula

On May 6, the state of Missouri enacted legislation expanding the optional single factor apportionment method for corporate income tax purposes to the sale of services and intangibles.1 The legislation addresses the issue of how to source the sales of services and intangibles for the optional single factor apportionment method. Under the legislation, market-based sourcing is used for sales other than sales of tangible personal property.2
Background
In 2013, the state of Missouri enacted legislation which […]

By |May 14th, 2015|

Cyprus: A Protocol On The Double Tax Treaty Was Signed Between Cyprus And South Africa

A Protocol amending the Agreement for the Avoidance of Double Taxation and Prevention of Fiscal Evasion with respect to Taxes on Income and on Capital between South Africa and Cyprus was signed on the 1st of April 2015.

According to the Protocol, Article 10 (“Dividends”) of the Double Tax Treaty shall be replaced with the provisions included in the Protocol signed. As such, dividends paid by a company resident in one contracting State to a […]

By |May 14th, 2015|

Malta: Partial Property Tax Exemption Scheme For First Time Buyers Extended

The scheme announced by the Government of Malta for those buying their first residential property has now been extended by an additional 3 months to the 30th of September 2015.

The scheme which exempted those buying their first residential property from the 3.5% duty on the first €150,000 of the property value was set to end on the 30th of June 2015. However, due to the success of the scheme and the various demands especially […]

By |May 14th, 2015|