The issue of how to tax cloud computing services when provided by foreign big tech companies has been much disputed in recent years. On one side, tax officials argue that foreign companies that receive payments for technology-related services, like cloud computing or internet leased lines provided to Indian customers, are essentially earning royalty or fees […]
Amazon Web Services (AWS) is a cloud services provider selling cloud computing services in India. In 2023, an Indian tax office issued an order that income earned by AWS on cloud computing services provided to Indian clients amounted to royalty and fees for included service and therefore taxable. Thus, the sum of $147 million was […]
UK Chancellor Rachel Reeves faces increasing fiscal pressure amid rising borrowing costs which is challenging the budget borrowing limits. With Labour government having ruled out both, further tax increases and further spending cuts, alternative revenue sources are under scrutiny. Campaigners propose taxing the super-rich to raise funds without affecting working families, though critics warn this […]
The UK government’s recent reform of the non-domicile tax regime is resulting in a marked decline in high-end tax receipts and placing increased strain on public finances. The revised policy has triggered the departure of numerous ultra-high-net-worth individuals (UHNI) who previously contributed a disproportionate share of the UK’s tax revenue. Recent fiscal data indicates a […]
South Africa’s fiscal framework is under increasing strain due to high tax rates and a disproportionately narrow tax base. The proposed value-added tax increase and persistently high personal and corporate income taxes are prompting capital flight and the emigration of high-net-worth individuals. A limited number of taxpayers contribute the majority of government revenue, highlighting a […]
The Korean government is set to reform its inheritance tax system to alleviate the tax burden on heirs, thus aligning with the global trend. Korea is one of only four countries (US, UK, Denmark, Korea) among the 38 OECD member nations that has an estate-based tax policy imposing taxes on the total wealth of the […]
Without the doubt, Dubai is not just a strong brand, but in a league of its own. Take for instance the global real estate market where Dubai is a key player. The city’s prime residential market is experiencing robust growth, with property values rising approx. 6.8% and rents growing by a record-breaking approx. 23.5% in […]
I wake up to a sunny morning in Dar es Salaam, the six-million-strong coastal metropolis of Tanzania, and soak in the atmosphere of the last day before flying back home to Dubai. Why am I here? Last year, we added six African countries to our website, where we began offering our services to ambitious entrepreneurs […]
When speaking about the advantages of owning a company abroad, outside your home country, I am often asked this question. Why should I consider having a company abroad when I am doing fine in doing business with my company at home? I used to answer, “You should have company abroad to provide security for yourselves […]
In our earlier overview of Luxembourg’s corporate tax system, we outlined the rates applicable through 2024. With effect from tax year 2025, Luxembourg has reduced its corporate income tax (CIT) rates by one percentage point, further strengthening the country’s position as a leading European business and financial hub. The fundamentals remain unchanged: corporate residents are […]
