1. What are the most frequent tax-related problems (main types) encountered by foreign enterprises/individuals in Mainland China?
1.Chinese tax resident/non-resident identification
2.Tax treaty treatment
3.Transfer pricing
4.Cross-border business tax risks
5.Tax registration administration
6.Double taxation/special tax adjustment
1. Can you provide an overview of the current tax laws and regulations in Bolivia?
Bolivia operates a territorial tax system based on the principle of source taxing income generated by individuals and/or legal entities arising from goods and assets located or used economically within its territory and from any activity carried out in the country, regardless of the nationality and/or residence of the parties involved or where the contracts were entered into.
A corporate income tax taxes entities incorporated or carrying businesses in its territory, including subsidiaries/branches of foreign entities. No personal income tax exists as such for individuals; thus, they are subject to a complementary tax on the value added tax on any income obtained as employees and/or as direct taxpayers.
The tax legislation has not experienced significant changes and has not evolved since its last major reform in 1986. For that matter, an integral reform is essential not only to amend existing flaws and inconsistencies in the norms, but to adapt them to new realities of industrialisation, technology, digitalisation and entrepreneurship. Continue reading “Sponsored Q&A: Dentons (Bolivia)”
1. What are the key tax laws and regulations in Iceland that individuals and businesses should be aware of?
Under the Icelandic Income Tax Act no. 90/2003, resident corporations pay tax on their worldwide income (ie, unlimited tax liability) minus operating expenses. The general corporate tax rate is 20%. As a general practice, all businesses incorporated and registered in Iceland, or which have their effective management in Iceland are considered tax resident in Iceland. Continue reading “Sponsored Q&A: BBA//Fjeldco”
1. What is the core philosophy or guiding principle of your law firm?
We have six keywords governing the overall philosophy of our firm:
a. SUSTAINABILITY: What makes a business sustainable? In our opinion, respect and regard toward all the resources that contribute to it: the firm’s professionals, whose growth and appreciation we foster; the work environment, made up of environmentally sustainable materials; the taxpayer, with whom we want to build a trust-based relationship; the institutions, with whom we want to have transparent discussions.
b. NETWORKING: Dialogue and discussion are the basis of our ‘networking’. Earnest, transparent, and solid personal relationships to work well, fully respecting know-how and rules. We work as a team creating positive synergies to foster the growth of our profession, of the national, European, and worldwide context.
c. INNOVATION: We are on a path of continuous evolution. Keeping an open mind is the way to innovate and improve our personal and professional relationships. We keep up with technology to improve our work and our clients’.
d. GROWTH: 360-degree growth and understanding: growth for the client and for the economy around us, professional growth by focusing on continuing education and on appreciating our professionals.
e. ESG: Environmental social governance: we deal with internal relationships by appreciating from time to time whoever has the right skills for the best possible result; we support our clients’ propensity towards ESG criteria; we respect the environment with environmentally sustainable choices; we devote part of our time to socially useful endeavours.
f. COMMITMENT: It’s obvious for a tax and law firm to strive for utmost commitment. We’ve chosen this principle to remind us of this, to clearly see that commitment does not just consist in doing our job well, but in doing so by ensuring that all our inspiring principles are still valid.
Emily Bernstein is an experienced private banker at Investec who specialises in supporting legal leaders and senior lawyers
Q: I earn £1m a year but I can’t get the mortgage I need. What are my options? Continue reading “Sponsored briefing: Ask the private banker to senior lawyers”
The unprecedented global events of the past three years and growing importance of advanced technologies, such as artificial intelligence, have highlighted the role of innovative solutions in addressing new challenges. These events, including the Covid-19 pandemic and green transition, as well as the present economic slowdown, have led businesses to evaluate risk management strategies and exploit every opportunity to maximise revenue and reduce costs.
The success of businesses in technology-rich sectors – such as life sciences and communications technologies – is often underpinned by robust intellectual property (IP) strategies. However, sound IP management strategies are not limited to one sector: they play a role in the success of all businesses. Continue reading “Sponsored briefing: How GCs can manage the opportunities and risks of the Unified Patent Court”
Dr Vera Naegeli and Marie-Cristine Kaptan discuss the evolving ESG legal field in Switzerland and how companies can abide by the new regulations.
Drs Friedrich Gebert, Andrea Panzer-Heemeier and Mirjam Boche give an overview of ESG requirements in the German market
BSLAW’s managing partner Robert Szuchy gives insight into navigating the ESG system in place in Hungary
Badran Law Office’s Aly Hussein and Ali Kheidr on the key legal issues affecting companies intending to do business in Egypt
Continue reading “Sponsored briefing: Overview of the Egyptian legal market”
