international tax law
6 views | +0 today
Follow
Your new post is loading...
Your new post is loading...
Scooped by Grégoire Loustalet
Scoop.it!

China and France signed new Double Taxation Treaty | Lexology

China and France signed new Double Taxation Treaty | Lexology | international tax law | Scoop.it
On 26 November 2013, the governments of the PRC and France signed a new Double Taxation Treaty ("new DTT") to replace the old DTT which was signed by…
more...
No comment yet.
Scooped by Grégoire Loustalet
Scoop.it!

Automatic tax data exchange to hurt fund flows, say Swiss banks - The Economic Times

Automatic tax data exchange to hurt fund flows, say Swiss banks - The Economic Times | international tax law | Scoop.it
All Swiss banks put together managed assets totalling over Rs 383 lakh crore at the end of 2012, out of which 51 per cent came from abroad.
more...
No comment yet.
Scooped by Grégoire Loustalet
Scoop.it!

International Tax Evasion Crackdown: Slow, Tricky, And Only First Step in ... - International Business Times

International Tax Evasion Crackdown: Slow, Tricky, And Only First Step in ... - International Business Times | international tax law | Scoop.it
Chicago Tribune
International Tax Evasion Crackdown: Slow, Tricky, And Only First Step in ...
more...
No comment yet.
Rescooped by Grégoire Loustalet from Totally Tax
Scoop.it!

Singapore bucks the trend and welcomes Bitcoin, laying out tax rules for the virtual currency

Governments all over the world have either been rejecting Bitcoin as a legitimate currency or issuing warnings about the use of it -- including India, Norway and South Korea just last ...

Via Chris Bale
more...
Chris Bale's curator insight, January 9, 2014 1:57 PM

Governments all over the world have either been rejecting Bitcoin as a legitimate currency or issuing warnings about the use of it — includingIndia, Norway and South Korea just last month, following in the footsteps of statements from the central bank in China and Thailand in July.


However, Singapore has bucked the trend by recognizing Bitcoin trading and laying out taxation rules governing transactions made in the virtual currency.


In an email to Singapore-based Bitcoin brokering service Coin Republic, Singapore’s tax authorities note that companies in the business of buying and selling Bitcoins will be taxed based on the gains from their sales. However, if Bitcoins form part of a company’s investment portfolio for long-term investment purposes, any gains would be capital in nature and therefore won’t be subject to taxation.

As for goods and services taxes (GST), Singapore’s authorities note that the sale or exchange of Bitcoins in return for cash or in kind is a “taxable supply of services.” This means that in cases when Bitcoins are accepted as payment for real goods or services, for example digital content including online music, taxes will be imposed if both parties involved are GST-registered, a likely case if you purchase something from a site which falls under the government’s jurisdictions.


However, using Bitcoins to purchase virtual goods or services, such as in-app game purchases, “will not be taxed until the bitcoins are exchanged for real monies, goods or services.”


As for merely being a middle-man in Bitcoin trading, for example in the case of a Bitcoin exchange which transfers the digital currency directly to the customer’s wallet, GST will be charged on the commission fees. However, if the company also participates in buying and selling Bitcoins, GST will be imposed on the sale of Bitcoins and commission fees.

Investors Europe Stock Brokers's curator insight, April 25, 2014 3:43 AM

Open a trading account Download MT4 demo Download Offshore Trader DEMO- NOW!  Get a Quotation About Investors Europe

Scooped by Grégoire Loustalet
Scoop.it!

A New View of the Corporate Income Tax - NYTimes.com

A New View of the Corporate Income Tax - NYTimes.com | international tax law | Scoop.it
A new methodology for calculating the impact of corporate taxes challenges the conventional political wisdom that higher corporate taxes benefit the less-wealthy segment of the population, an economist writes.
more...
No comment yet.