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So A Company Can Pay For Its Expenditure By Issuing Its Own Shares! (Werksmans Incorporated)
  • For many years there has been a debate as to whether a company can incur a cost in relation to the acquisition of an asset or the incurral of operating expenditure, where it pays the supplier by issuing its own shares.
    • ATO Compliance Program Targets Globally Mobile Executives (Norton Rose Australia)
  • The ATO Compliance Program for 2010-11 released earlier this month identifies a focus on globally mobile executives and other highly paid individuals. This focus, in the context of recent significant legislative changes in the areas of foreign employment income and employee share schemes, creates significant risks for those individuals identified and their employers. Now is the time to undertake a compliance review and get the house in order before the ATO comes knocking at your door!
    • License for Canned Software is Taxable (Cozen O'Connor)
  • The Supreme Court of Pennsylvania held that a license to use canned software is a license to use tangible personal property and is therefore taxable for Sales and Use Tax purposes.
    • Commission Refers Finland to the European Court of Justice on Dividend Taxation (Borenius & Kemppinen)
  • The European Commission has decided to refer Finland to the European Court of Justice because of failure to comply with a Reasoned Opinion on its legislation which discriminates against foreign pension funds.
    • Guide to Business Taxation in Denmark (PART 2) (Kromann Reumert)
  • The Danish tax system comprises of direct and indirect taxes. Direct taxes include income tax and property tax, while the principal indirect taxes are value added tax (VAT), customs, green taxes and excise duties.
    • Transfer Pricing Under Turkish Tax Law from the Perspective of International Applications (GSI Meridian)
  • The importance of economic relations between the countries has increased with the ever-growing mobility of capital in the globalised world. In the current conditions, where international investments significantly rise, companies wish to maximize their profits.
    • Illinois Supreme Court Holds Hospital Failed to Establish Charitable Institution Status; Hospital Unable to Claim Exemption from Illinois Property Tax (Grant Thornton LLP)
  • On March 18, 2010, a majority of the Illinois Supreme Court held that a religiously affiliated Illinois hospital was not entitled to an exemption from property tax because it failed to establish that it was a charitable institution.
    • Managing the Harmonized Sales Tax (HST) (Meyers Norris Penny LLP )
  • On July 1, 2010, Ontario’s Provincial Sales Tax (PST) will be replaced by the HST.
    • New Bill Requires Certain S Corporation Shareholders to Pay Self-Employment Tax (Frank, Rimerman + Co. LLP )
  • In May, the House of Representatives passed legislation (Section 413 of H.R. 4213) that would subject non-wage earnings of certain S corporation shareholders to the self-employment tax for the first time.
    • New Roth IRA Opportunities for Higher Income Taxpayers (Watkins Meegan LLC)
  • First established in 1996, Roth IRAs have become a widely used tool in planning and saving for retirement.