Search results for

Giuliano Foglia

Jelena Zivkovic On the February 1 session of the Montenegrin government, the goverment adopted the Draft Law on Taxation of Hydrocarbons, whereby tax policies on profit gained from extracting oil and gas, construction of facilities and related equipment as well as delivery and transport of oil and gas have been defined. The proposed law, when ratified by the Parliament, will create a special regime for corporate income tax applicable to companies dealing with extracting oil and gas. Per the new law, the corporate income tax rate will be 59%.

René Schreiber

Bob van der Made The German and French leaders publicly restated their commitment to lead the way on EU FTT on February 19 and also offered a self-imposed, concrete timeline for a compromise agreement among the EU11 participating member states by May. Notwithstanding that announcement, much remains to be done on the technical side and to reconcile the various interests of the EU11. The EU11 are meeting regularly and informally again in Brussels.

Greg Neill The New Zealand Parliament has recently enacted amendments to the Income Tax Act which provide for a fundamental shift in the way New Zealand individuals with interests in foreign superannuation schemes may be taxed in respect of those interests. The law change is reflected in the Taxation (Annual Rates, Foreign Superannuation, and Remedial Matters) Act 2014 which received Royal assent on February 27 2014. The new laws will apply from April 1 2014, being the first day of the 2014-2015 New Zealand tax year.

Antonis Michaelides

Ayesha Lau

Rajendra Nayak

Peter Dachs The Minister of Finance read his Budget speech on February 26. In general terms, the current and future proposals are very modest in their scope and this could be regarded as the most low-key set of tax proposals to have been put forward for many years. It is noteworthy that the maximum marginal tax rates applicable to individuals, trusts, companies and dividends remain unchanged. A summary of the key business related highlights is as follows:

Mario Ortega