Territorial tax system

As infections fueled by the Omicron variant threaten to overwhelm Canada’s health care system, the Quebec government on Tuesday took unprecedented action by promising to tax adult residents who refuse to be vaccinated against COVID-19. Premier François Legault made the announcement as the province reported another daily record of virus-related …

Today’s map examines the ranking of European OECD countries in cross-border tax rules and is the last in our series examining each of the five components of our International tax competitiveness index (ITCI). Cross-border tax rules define how income earned abroad and by foreign entities is taxed domestically, making it …

The Bosnian Constitutional Court declared the holiday illegal because it discriminates against Bosnian Muslim and Croatian Catholic communities. The Bosnian Serbs staged public celebrations to mark the national day of their Autonomous Serbian Republic, defying a supreme tribunal’s ban on commemoration and US sanctions imposed on their leader Milorad Dodik …

The US Treasury Department said on Wednesday it was imposing additional sanctions against Bosnian Serb leader Milorad Dodik and a media company he would control, Reuters reports. A Treasury Department statement accused Dodik of “corrupt activities and persistent threats to the stability and territorial integrity” of Bosnia and Herzegovina. Last …

By Natalie Olivo (Jan 3, 2022, 12:02 p.m. EST) – Courts will continue to wrestle this year with high-stakes cases brought by large U.S. multinationals that have accused federal tax authorities of overriding, with disputes, including including FedEx’s challenge to repatriation regulations and Facebook’s fight against multibillion-dollar adjustments to its …

With 2021 behind us, a number of new rules and regulations are expected to come into effect this year. Some of the changes include increases in the minimum wage, bans on plastic bags and taxes on soft drinks. Below are some of the new rules and regulations that will come …

OTTAWA, ON, December 30, 2021 / CNW / – The government of Canada is committed to supporting Canadian workers, businesses and service providers during the COVID-19 pandemic. At 22 December 2021, the government of Canada announced it would expand eligibility for the Canada Worker Containment Benefit (CWLB) to better support …

The education sector must face 2022 with more optimism in anticipation of the end of the pandemic, coupled with the hard lessons learned through it, and guided by the collective vision of a matatag, maginhawa, in panatag na buhay (strongly rooted, comfortable and secure life) in 2040. The deeply rooted …

By Doug Connolly, Multinational Corporate Taxation The Irish Department of Finance opened a public consultation on 22 December seeking comment on a possible transition to a territorial tax regime for companies. Such a system “could be simpler and offer greater security to businesses – but should also be accompanied by …

As of January 1, 2022, the current exemption from income tax on foreign source income (FSI) received in Malaysia by Malaysian residents will be removed. This article highlights the impact and practical considerations that businesses and individuals should consider when preparing for the impending tax on the ISP. The content …