AITC Newsletter July 2017

Dear clients,

Please find the tax newsletter July of our international network AITC.

Best regards

Manfred Gross

Palazzo Finanze

Flat Tax: Italy opens its doors to the rich not residents

The provision of Agenzia delle Entrate, 8th March 2017, operationalize the provision of Article 1, paragraph 152, of Law December 11, 2016, n. 232 (2017 Legge di Bilancio), which entered into Tuir the article 24-bis.


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Great new follow up article about the US three-year long Swiss Bank voluntary disclosure program that ended January 2016

A three-year long Swiss Bank voluntary disclosure program that resulted in non-prosecution agreements with the Department of Justice, netted 80 Swiss banks coming forward to reveal how they helped Americans evade U.S. income taxes and identify those with funds hidden in their offshore accounts came to an end in January 2016.


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Department of Finance and Deregulation Canberra

The permanent establishment in international tax law

Corporate profits are taxed in full in the state in which the company’s registered office is located. This basic principle also applies in cases where the company has international operations.


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Special Limited Partnership (SLP) as an Alternative Investment Fund solution

The SLP can be setup as an unregulated alternative Investment Fund under the AIFMD. The Special Limited Partnership is a form of companies which can be incorporated in Luxembourg by one General Partner (GP) and one Limited Partner (LP – investor). It proposes many advantages, among them.


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Malta: A Start-Up Heaven

With Malta’s central position in the Mediterranean and the United Kingdom’s Brexit procedures soon to be implemented, the time is just right for Malta to gain traction and rank as a possible relocation destination for those UK start-ups and companies which are searching for stability and also a secure point of entry into the European market.


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The Romanian government has recently adopted new measures to combat tax evasion and tax planning

The Romanian government has recently adopted new measures to combat tax evasion and tax planning by regulating the mandatory automatic exchange of information from reports that multinational enterprise groups are due to submit to the parent company.


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Automatic Exchange of Financial Account Information (AEOI) – A matter of compliance for wealthy Chinese citizens?

In 2014, the Global Forum endorsed the new common reporting standard on automatic exchange of financial account information (AEOI). Jurisdictions that have publicly committed to implementing the AEOI standard on a timeline will first exchange tax information in 2017 or 2018. The Global Forum, in collaboration with the OECD, has been working hard to support these commitments. China (as well as Hong Kong) fall within the jurisdictions undertaking first exchanges in 2018.


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