Spain: Tax avoidance regime makes no sense
Wednesday, 20.08.2008
Garrigues
In 1988, two years after Spain's incorporation into what was then known as the European Community, the securities market law provided in article 108 a measure designed to prevent tax avoidance in transfers of shares in companies with underlying real estate. This was to prevent transfers of real estate designed as share deals from avoiding the transfer tax charged on real estate purchases that did not attract VAT. More... France: Tax treatment more favourable for foreign real estate investors
Friday, 15.08.2008
Landwell Global
The tax environment for real estate property held by non-residents globally is now more friendly thanks to tax changes in recent case-laws and in France's last budget.
In a case concerning the sale of shares of a Monegasque company that owned a building in France, a first-level regional court declared this guidance to be contrary to the territoriality principle and ruled that the transfer of foreign movable assets, in particular of shares of a company with assets consisting mainly of French real estate, is free of registration tax when the sale contract has been signed abroad. More... Britons face Nicolas Sarkozy tax rise to fund French welfare plan
Thursday, 28.08.2008
The Times
The 1 per cent rise on share, property rental and other investment income is designed to help to pay for the French President’s promise to end the so-called welfare trap, in which it can be unprofitable for jobless people to return to employment.
The tax will be wide-ranging and could affect thousands of Britons who let their properties in France in the holiday season. More... UK unveils tax treaty programme
Tuesday, 26.08.2008
International Tax Review
The UK plans to conclude four double tax treaties in the next seven months. HM Revenue & Customs and the Treasury also hopes to make progress on six more and to open talks on treaties with another four jurisdictions.
More... McCain, Obama differ on plans for capital gains tax
Monday, 21.07.2008
Robert Cohen - Newhouse News Service
Though the election is four months away, Democratic presidential candidate Barack Obama's plan to raise the capital gains tax rate already is causing anxiety on Wall Street. More... Death tax
Tuesday, 27.05.2008
Wendell Cayton
One of the highest taxes in the land is the one paid to transfer one's material wealth to others at death. Up to 45 percent, to be precise, of a larger estate could go to 300 million of our closest friends and neighbors unless proper planning is done ahead of time. More... Revenue Probes Irish Accounts
Wednesday, 14.05.2008
The Irish Revenue Commissioners have begun investigating a number of Irish estate agents with regards to obtaining information on all Irish residents who have purchased property overseas. This could be the first step in what many perceive to be the beginning of a major clampdown by Revenue on the overseas property investor. More... Revenue steps up pursuit of overseas investment details
Wednesday, 14.05.2008
Sunday Business Post
The massive number of Irish investors who have acquired overseas properties has not gone unnoticed by the Irish tax authority.
The Revenue Commissioners are determined to find out the source of the money used to purchase the properties, and to discover if the property is generating any taxable income. More... Double taxation abolished for Poles working overseas
Wednesday, 30.04.2008
Warsaw Business Journal
Poles working abroad will not have to pay tax in Poland on revenues received in other countries and those who have not settled with the tax office for years do not have to do it, as the government passed the draft abolition law.
Those who have paid the More... Owners of property abroad face Revenue clampdown
Friday, 25.04.2008
Irish Times
Commissioners is to seek new powers to force estate agents to automatically hand over information on Irish residents who buy foreign properties to discover if the money used to buy them has been declared for tax. SIMON CARSWELL , Finance Correspondent, reports. More... Taxman targets foreign property
Thursday, 24.04.2008
AN ATTEMPT by the Revenue Commissioners to inspect records in Savills HOK's Dublin offices for the names of people who have bought property abroad since 2002 ended last Friday when Revenue withdrew its request for information. Savills HOK then withdrew its High Court challenge to the proceedings. More... Homeowners released from 'CGT prison'
Thursday, 24.04.2008
The Move Channel
Mr Thomas believes there are many property investors who would like to sell selected properties, but have chosen not to because of high Capital Gains Tax (CGT).
However, now the new lower rate of 18% will encourage many investors to take a more flexible approach to developing their portfolio, selling underperforming assets in order to reinvest in potentially better performing property, without being faced with a large tax bill. More... Spanish Government Introduces Plan to Assist Economy
Monday, 21.04.2008
As uncertainty continues in both the economy and the Spanish property market the government has implemented a number of provisions which they hope will improve the slowing economy.
Non-residents are set to benefit if proposed plans to improve the investment conditions imposed on investment opportunities for investors gets the go ahead. More... Are Far Away Hills Still Greener?
Tuesday, 15.04.2008
Colm Murphy
As thousands of us continue to be drawn by the dream of owning a property in the sun many investors and property owners are facing a new reality that their idyllic Spanish fantasy may not be all that it was meant to be.
Property Tax International has noted that the Spanish government has introduced a number of tax breaks aimed at softening the impact as Europe’s biggest property boom comes to a halt. More... Keeping It Legal - Will your firm live on after you?
Tuesday, 25.03.2008
To ensure that the right people continue to manage the business after you have taken leave and to also ensure that your family members can retain future profits a Will Trust is highlighted by the Journal as being the most tried and tested method of appeasing everyone while ensuring that ones Inheritance tax (IHT) bill is kept under control.
A Will Trust appoints a carefully chosen trustee(s) with suitable business skills to manage the business but who will also taken into account the family members economic needs and rewards. More... The double taxation management
Wednesday, 19.03.2008
Sunday Business Post
Several of the problems involved in purchasing property overseas are connected to the calculation of tax debts so that you pay all your taxes you ought to by law both abroad and home, but not more than usual. More... Irish investors with properties in Spain beware
Tuesday, 18.03.2008
Property Tax Returns
Spanish authorities started a massive investigation over the Irish investors who bought properties in Spain and hadn’t paid taxes.
It seems like over a 100,000 Spanish properties have an Irish owner. More... Buy-to-let landlords facing tax crackdown
Tuesday, 26.02.2008
The guardian
The investors who have not paid their taxes on money gained from selling/letting a property targeted in a major crackdown that accountants say will net millions of pounds for the UK's customs and tax department.
Hundreds of letters were sent to landlords this week in the first stage of what the Revenue is calling its Property Campaign. More... Inheritance Tax reform in France
Monday, 11.02.2008
PTI Returns
New president Nicolas Sarkozy proposed the IHT threshold in France will be trippled. By raising the threshold to 300% of its current state, Sarkozy is giving a good head start to french holiday owners, while taxpayers in Britain are still troubled with the current inheritance tax nil-rate in the UK. More... Auctioneer company challenge Revenue inspection
Wednesday, 19.12.2007
A MAJOR auctioneering firm was yesterday given leave by the High Court to challenge moves by the Revenue Commissioners to inspect its records for the names of people who have bought property abroad since 2002.
Savills Hamilton Osborne King (SHOK) was given leave to seek a judicial review declaring that the Revenue are not entitled to go into their premises to inspect records for this purpose. More... Hungary Fin Min
Friday, 14.12.2007
Dow Jones Newswires
Hungary plans a new investment incentive for small and medium-size companies from next year to boost their competitiveness, Finance Minister Janos Veres said Tuesday.
"If the parliament approves it, the corporate tax (for the SME's taking advantage of the incentive) will drop to 10% from 16%," Veres said at a meeting of the alliance of Hungarian employers and industrialists, or Mszosz. More... Bulgaria 2008
Friday, 02.11.2007
The Associated Press
The Bulgarian government presented a draft 2008 state budget Wednesday, projecting a record surplus of 3 percent of gross domestic product and economic growth of 6.4 percent of GDP. More... Spain Finance & Business
Friday, 12.10.2007
Typically Spanish
The new IRPF income tax system will allow the authorities to identify 320,000 rented properties over the next three years, and put an end to any fraud. So far fraud discovered using 500 € notes has only totalled 15 million €. More... Simple...and familiar
Friday, 12.10.2007
BBC News
The first and most important is a simplification of capital gains tax. And it seems to be a bold simplification. More... Tax Cheats
Friday, 12.10.2007
Times Online
Labour shamelessly burgled three populist planks of the planned Conservative manifesto, The Guardian reports, raising the threshold for inheritance tax, close loopholes for wealthy non-domiciles and switch green aviation taxes from passengers to flights.
Faced with Tory taunts that David Cameron is now in charge of the political agenda, Mr Darling tried to inject a more egalitarian flavour into his package by limiting the rise in inheritance tax threshold to estates worth £700,000, rather than £1 million as proposed last week by the Tories. More... The low-flat option in Bulgaria
Wednesday, 10.10.2007
Sofia Echo
In the last week of July the Bulgarian Government announced plans to introduce a flat tax on personal income in 2008.
The Government said the new rate, which will be among the lowest in a region where flat taxes have become popular, will encourage foreign investment and help shrink the country’s informal economy. More... Investors in French property 'benefit from tax reforms'
Monday, 03.09.2007
Times
New tax reforms in France could have a positive impact on property owners in the country, according to experts
Approximately 95 per cent of homeowners will now be exempt from paying inheritance tax (IHT) after the government tripled the threshold at which people become liable to pay.
As a result, only the wealthiest people will be affected by the tax, which is based on the value of a person's estate when they die. More... Boost for French holiday homes
Sunday, 02.09.2007
British residents no longer need live in fear of French inheritance tax. More... Call for property laws to be tightened
Thursday, 23.11.2006
The Society of Actuaries has called on the Minister for Finance to bring certain investment products that are outside the scope of consumer protection law under the remit of the Financial Regulator?
The call came as amid concerns from the body about certain investment products which involve overseas property. More...
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