For years now, Canadian residents who own a secondary residence in the United States have been concerned with American estate taxes. This concern comes from the fact that property located in the United States and owned by Canadian residents is subject to American estate taxes upon the owner’s death, taxes which can sometimes reach significant amounts ...
The Income Tax is one of the most important taxes within the national taxation system because the subjects and activities that are affected by it are very wide. The Income Tax is regulated by the Fiscal Equity Law, which is published in the Daily Official Gazette Num. 82, on May 6, 2003. This Law establishes that the tax base to calculate the annual income is the net rent, which is the gross income obtained by the taxpayer minus the deductions authorized by law ...
The Fiscal Equity Law, Law Num. 453, published on May 6, 2003, in the Daily Official Gazette Num. 82, establishes that natural persons, artificial persons or economic units, resident or not in the country, who perceive rent originated in Nicaragua are subject to a definite retention ...
1. Introduction With the further globalization of the world financial infrustructure accompanied by the persisting lack of international coordination in fiscal affairs? increasingly the attention of the major developed countries (in particular, such groupings as G 7 and G 10) is turned to the problems of erosion of national tax bases and international tax evasion/avoidance, as well as the role played in it be so-called tax haven ...
On 1 January 2004 Ukraine woke up to the new personal income tax. A development of the previous individual income taxation, this tax is, if anything more sophisticated. Its novelties will have a lasting impact on many of the tax planning strategies involving individuals. Without attempting a comprehensive analysis of the new tax, this article offers an outline of some of its major implications for tax planning. A ...
On its way to a market economy, one of the primary tasks facing Ukraine is the development of its financial markets and, inevitably, elaboration of its finance laws. Although much remains to be done, the passing year has brought several major developments in the area of finance law: (a) introduction of the anti-money laundering system, (b) tightening of exchange controls and (c) further dramatic growth of the bond market, including the issue of corporate and municipal Eurobonds ...
Ukrainian Exchange Controls Have Always Been, if Anything, Overprotective. As More Ukrainian Companies Are Seeking Finance Abroad, Ukraine Has to Consider Adding Clarity and Certainty to its Exchange Controls in Order to FacilitateCross-Border Finance Regulatory imperfections. The system of Ukrainian exchange controls is based on the Decree of the Cabinet of Ministers of Ukraine On the System of Currency Regulation and Currency Control (the “Decree”) adopted back in 1993 ...
On 10 July 2003 the Verkhovna Rada of the Ukraine adopted the Amendment to the Land Code of the Ukraine (Amendment) Act of the Ukraine. The Amendment came into force on 31 July 2003. Under this Amendment, Article 82 of the Land Code of the Ukraine (Land Code) is amended, the very article which regulates land ownership of legal entities ...
Project financing in emerging markets has been in use for some time, primarily for financing large new projects without any prior track record or operating history — greenfield projects. Emerging markets are in instant need of project financing as an effective instrument for economic investments. It facilitates attracting new investments by structuring the financing around the project's own operating cash flow and assets, without the additional guarantees of sponsors ...
Capital Committed to VC Funds in the US ($) and Return Importance of Angel Investors • 80% of recent Inc. 500 bootstrapped initial capital using non-traditional source of funding1 • 5% raised initial capital from venture capital1 • 1996 - $30 billion angel funding $10 billion venture capital2 1. Angel Profile • Do’s for Entrepreneurs ...
We have identified various venture capital deal terms which have become more onerous as a result of the current state of the venture capital and technology industry. Understanding the impact of those terms is important to angels in structuring their initial investment as well as situations where they have made an investment and then solicit subsequent professional venture capital funding for the portfolio company ...
The Internal Revenue Service recently issued Revenue Ruling 2002-83 dealing with like-kind exchanges between related parties and unrelated qualified intermediaries ...
SEC Adopts New Rules Governing Disclosure of Non-GAAP Financial Measures and Amendments to Form 8-K Relating to Earnings Releases and Other Financial Disclosures
"This [provision of the Sarbanes Oxley Act] is about making sure those lawyers. . . don’t violate the law and, in fact, more importantly, ensure that the law is being followed." -- Senator John Edwards, July 10, 2002 On November 21, 2002, the SEC proposed a new Rule 205 entitled “Standards of Professional Conduct for Attorneys Appearing and Practicing Before the Commission in the Representation of an Issuer” (the “Standards”) ...
The Entrepreneurship Institute President's Forum This term sheet provides an example of a typical "Angel" round investment in preferred stock. It is not intended as specific legal advice or a final legal document and is provided for general educational purposes only ...
North Texas Global Telecommunications Society Fourth Annual Latin American Telecommunications Conference A Powerpoint presentation covering the following: Overview Chronology No General Rules (Reglamento) Issued, Only Rules for Specific Services Sector Statistics Recent Legal Developments E-Mexico Basics of Regulatory System Comparison of Current Mexican Telecommunications Law with Draft Bill Concessions Same Basic Regulation in Current Law and Draft
Houston Business Journal Internal Revenue Code section 179 contains an important benefit for small businesses—the ability to completely expense the costs of certain assets. In general, businesses who purchase assets with a useful life of greater than one year are required to depreciate the cost of the property over a number of years. Section 179, however, allows a business to fully expense the cost of certain qualifying property in the year it is purchased ...
According to the fourth quarter 2001 report of Lodging Econometrics, the accelerated decline in the operating performance of the lodging industry will continue until the middle of the first quarter of 2002 due to the events of September 11, 2001, and the recession. Further, while the operating performance of the lodging industry may show signs of improvement by September of 2002, the effects of that improvement may not be felt until the first quarter of 2003 ...
