Slump Sale - Effect of Amendments by Finance Act 2021 AUTHOR: Shahid Khan Senior Partner and Head Direct Taxation Kochhar & Co. Email: [email protected] Finance Act 2021 has made certain important amendments to Income Tax Act (the Act) in respect of provisions relating to taxation of capital gains arising on Slump Sale ...
Union budget 2022-2023 Expectations Overview The economy of the resurgent India is expecting a road map with the upcoming Union Budget 2022-23. The Budget speech is likely to pen down new reforms and policies that helps the economy to maintain a sustained growth rate ...
With answer to ruling no. 839 of 21 December 2021 (the Ruling 839/2021), the Italian Tax Authorities (ITA) clarify that credit institutions established in the United Kingdom (UK) cannot benefit from the withholding tax exemption on interest and other proceeds from medium-long term loans provided for by Article 26, para. 5-bis, of Presidential Decree no. 600/1973 (the Decree 600/1973). https://www.gop.it/doc_pubblicazioni/935_qrpnmu9tzy_ita ...
Trees are ubiquitous. They are a natural part of our landscape and valued for the beauty they provide (not to mention the environmental benefits) as well as their lumber and economic value. Landowners often value their trees, but when a landowner needs to remove trees for development tensions can arise between the government’s interest in preserving and protecting the environment and the landowner’s inherent property rights ...
We have in 2021 seen a remarkable (continued) recovery in the Norwegian financial market. This is also evident from the perspective of our banking and financing team. We have assisted our clients with a considerable number of new financings and refinancings, across most sectors. It has especially been hectic within the shipping, aviation and renewable energy sectors and we have seen a steep increase within acquisition financing ...
On December 19, Gabriel Boric was elected as future President of Chile, and will take office on March 11, 2022. The following is a list of the main tax proposals1 of the recently elected candidate: New income tax regime: a disintegrated income tax regime is proposed for large companies, separating the tax paid at the company level from the one payable by its shareholders when withdrawing profits ...
Financial Services Climate risk — progress of Joint Committee on Climate Change In a joint statement, Bank Negara Malaysia (“BNM”) and Securities Commission Malaysia announced on 10 December 2021 the following: the Joint Committee on Climate Change (“JC3”) will issue a Reference Guide on Climate Risk Management and Scenario Analysis, which sets out expectations for financial institutions to integrate climate-related risks considerations in finan
The General Department of Taxation (“GDT”) issued new Instruction No. 20522 (“VAT Instruction”) on 8 December 2021 which provides further clarity on the implementation of Sub-Decree 65 S.E and Prakas 542 MEF.P that were both issued earlier this year ...
Taking agricultural land out of production to offset the impact of nitrate pollution from housing can generate income for its owner and benefit developers and local authorities. The problem Nitrogen and Phosphorus are essential nutrients for plants. Used as fertilisers they boost growth and increase crop yields. They are also a pollutant ...
Corporate/M&A Collaboration between Bursa Malaysia Berhad with Capital Markets Malaysia through the Elevate Programme Bursa Malaysia Berhad (“Bursa”) has on 11 November 2021 announced that Bursa will be collaborating with Capital Markets Malaysia (“CMM”) to engage and work with mid-tier companies that are seeking to undertake initial public offering in the next 24 months ...
1. Introduction Equinor’s pioneering «Hywind Tampen» project, set to become the biggest floating wind farm in the world and scheduled to commence construction in late 2022, will mark the first foray into offshore wind production in Norway. Further, the areas «Utsira Nord» (floating turbines) and «Sørlige Nordsjø II» (bottom fixed turbines), both in the North Sea, have as from 1 January 2021 been opened for development ...
The EU strives to become carbon neutral by 2050. This objective has been formally regulated through the EU Climate Law[i] and is enshrined in the European Green Deal[ii], being also in line with the EU’s commitment to global climate action according to the Paris Agreement[iii] and Glasgow Climate Pact[iv] ...
Whether CMC of a Guernsey company is exercised in the UK is question of fact. This briefing summarises UK tax residence points arising out of UK tax case law, focussing in particular on the most recent case of Development Securities (No. 9) Ltd and other v HMRC2, and also provides some practical guidance on how Guernsey companies can minimise UK CMC risks when there is no intention to make the company UK tax resident ...
Key Points New tax reporting provisions on cryptocurrency, as well as criminal consequences for noncompliance, survived in the Infrastructure Investment and Jobs Act (H.R. 3684) signed into law. The legislation imposes potential felony charges for failures to report certain "receipt" of digital assets, as well as expands the definition of "broker" to target crypto exchanges. On November 5, 2021, President Biden signed the Infrastructure Investment and Jobs Act into law ...
As it draws to a close, COP26 has seen world leaders aim to reach a consensus on actions to keep global warming to 1.5 degrees Celsius and the adoption of electrical vehicles (EV) has been cited as a critical step in achieving that aim. According to data from the Scottish Greenhouse Gas Statistics published by the Scottish Government, the transport sector is the largest emitter of greenhouse gases in Scotland, accounting for around 30% of all emissions ...
