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London Offices, United Kingdom
SVS House, Oliver Grove
SE25 6EJ London

Phone: +44 203 282 7159
info.uk@tba-associates.com
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Phone: +64 (0)4 909 7394
info.nz@tba-associates.com
Wilmington Offices, USA
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Phone: +1 (302) 319 9446
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Malta Extends Individual Tax Deadlines

Malta's Commissioner for Revenue has extended the deadline for submitting personal income tax returns and payment to August 31. Maltese individual taxpayers are typically required to file a tax return on a self assessment basis by June 30 and pay the required tax. The extended deadline applies for both taxpayers who file by post and [...]

2020-08-11T15:47:41+00:00July 20th, 2020|Tax News|

Hong Kong Lawmakers Endorse CIT Cut For Insurers

Hong Kong's Legislative Council has passed a bill to reduce the profits tax for certain insurance businesses. The Inland Revenue (Amendment) (Profits Tax Concessions for Insurance-related Businesses) Bill 2019 was passed by the Legislative Council on July 15, 2020. The legislation will halve the profits tax rate for all general reinsurance business of direct insurers, [...]

2020-08-11T15:47:42+00:00July 17th, 2020|Tax News|

Jersey Extends COVID-19 Wage Subsidy

The Jersey Government has announced the extension of the Co-Funded Payroll Scheme until at least the end of August 2020. The scheme aims to maintain employment in industries severely affected by the public health restrictions introduced in March 2020. Under Phase 1 of the scheme, businesses could claim for disruption caused between March 20 and [...]

2020-08-11T15:47:47+00:00July 10th, 2020|Tax News|

Malta Explains COVID-19 Tax Impact For The Self-Employed

Malta's Commissioner for Revenue has released tax-related guidance for self-employed taxpayers receiving the COVID wage supplement. The wage supplement (EUR800 or less, according to eligibility) is the Government's contribution to self-employed persons whose businesses have been negatively affected by the COVID-19 pandemic. This supplement is intended to replace or supplement the normal income of self-employed [...]

2020-08-11T15:47:48+00:00July 8th, 2020|Tax News|

Netherlands Mulling Tax System Overhaul

The Dutch Government has submitted a report to parliament which includes an extensive set of proposals intended to improve and "future-proof" the country's tax system. The report is based on the results of 11 investigations into seven "bottlenecks" in the tax regime which lead to unfavorable outcomes. It suggests 169 "building blocks" that political parties [...]

2020-08-11T15:47:48+00:00June 24th, 2020|Tax News|

COVID-19: EU Approves Cypriot VAT Deferral Scheme

The European Commission has approved under the Temporary State Aid Framework a Cypriot aid scheme allowing for the deferral of VAT payments by companies affected by the COVID-19 pandemic. Cyprus notified the Commission of a scheme that allows companies facing difficulties due to the COVID-19 outbreak to delay the payment of VAT due by April [...]

2020-08-11T15:47:45+00:00June 16th, 2020|Tax News|

COVID-19: Cayman Waives Tourist Accommodation Tax

The Cayman Government has approved an exemption from tourist accommodation tax for the period April 1, 2020, to September 30, 2020. The Government further announcement that surcharges for late payment of tourism taxes for the months of February and March 2020 will also be waived. "This temporary relief measure for the tourism accommodation sector will [...]

2020-08-11T15:47:46+00:00June 15th, 2020|Tax News|

BVI Issues Statement On CRS Compliance Amid COVID-19

The British Virgin Islands (BVI) International Tax Authority (ITA) has issued a statement on the due diligence obligations required of financial institutions in relation to the Common Reporting Standard. BVI financial institutions are required to set out in writing their policies and procedures to identify foreign taxpayers with financial accounts in the British Virgin Islands. [...]

2020-07-24T11:48:13+00:00May 13th, 2020|Tax News|

Switzerland Opens COVID-19 Loan Guarantee Scheme For Start-Ups

The Swiss Government has opened the application process for a loan guarantee scheme aimed at helping start-ups facing liquidity problems during the coronavirus outbreak. In March, the Federal Council announced that SMEs affected by the pandemic could apply to their banks for bridging credit facilities, and that the Confederation would guarantee a proportion of the [...]

2020-07-17T16:48:42+00:00May 7th, 2020|Tax News|