GR8 Global Philippines’ Post

BVI is a little island nation in the Caribbean. It enjoys a positive reputation globally and adheres to transparency and taxation guidelines that are accepted on a global scale. BVI's name was included in the "white list" of nations by the Organization for Economic Co-operation and Development because it complied with many of the organization's suggested regulations. Because of this, offshore businesses are increasingly choosing the British Virgin Islands. To know more about BVI offshore company registration read: https://bit.ly/49yrUKK #offshorecompanyformationinBVI #bvioffshorecompanyincorporation #bvioffshorecompanyformation #offshorecompanyregistration

💡 We devote the next post to all crew members, who sail under the Estonian or European Economic Area flag and who want to apply special tax regime for crew members. As follows you will find key conditions to meet for application:    ✔ Ship conditions – gross tonnage of at least 500. ✔International carriage - the regime covers ships engaged in the international carriage of goods or passengers (except passenger ships engaged in regular service in the European Economic Area, including cruise ships). ✔ Income tax - a whopping 0%! Yes, you read it right - zero income tax on your hard-earned wages. ✔ Duration - applicable until state aid is in force (no later than June 30, 2026).   If you're part of the maritime community or considering a career at sea, this could be a benefit for your financial planning. Dive into the details on the webpage 👉 https://lnkd.in/deB7KsXP.   📩 To apply, fill in attached form - sign digitally and send it to info@transpordiamet.ee   Feel free to share your thoughts or experiences with this tax regime in the comments. Let's navigate these opportunities together! ⚓️💼   #ESTFlag #Maritime #Shipping #stateaid #crewmember

The Full Federal Court's decision in Bechtel Australia Pty Ltd v Commissioner of Taxation has drawn attention to the treatment of Fly-In-Fly-Out (FIFO) travel costs under Fringe Benefits Tax (FBT) law. With over $13 million in FBT becoming payable, the case has prompted a critical review of how FIFO travel expenses are managed and accounted for. In this article, A&M Tax experts discuss the difference between traveling "to work" vs. "on work" and the importance of carefully constructing contract language and operating practices to mitigate potential risks. Read more: https://okt.to/hVs4IT #Tax #FBT

Today, the Argentine Official Gazette published Law No. 27,774 which approves the Argentina – Luxembourg Income Tax and Wealth Tax Reciprocal Exemption concerning Income Arising from Aircrafts’ International Transportation Operations (“DTT”) signed on June 24th, 2004. We highlight the following aspects of this Treaty: a.       Scope: IT applies to Individual and Corporate Income Taxes and Wealth taxes of both Contracting States and Communal Business/Commerce Tax of Luxembourg. b.      Benefits and Profits obtained by an entity of one Contracting State arising from the aircrafts’ exploitation concerning international transportation shall be exempt from tax in the other Contracting State. c.       Remunerations and salaries of jobs carried out on an aircraft exploited for international transportation purposes byan entity of a Contracting State may only be taxed by the Contracting State of which such entity is a resident. d.      Gains arising from the sale of an aircraft exploited for international transportation services or of movable or immovable property exclusively affected to the exploitation of the said aircraft, may only be taxed by the Contracting State where the entity that exploits the aircraft is a resident. e.       A Mutual Agreement Procedure Provision is foreseen f.         An Exchange of Information Provision Is also foreseen in the Treaty. g.       Entry Into Force: The DTT will enter into force 30 days after the ratification instruments are exchanged and will apply from January 1st of the year following its entry into force. #TaxUpdate #TaxLaw #Argentina #Treaty #DoubleTax #DTT

The UK is closer to becoming part of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), as the Government has reportedly completed the latest required step in the joining process. #CPTPP #Government #meatindustry

🏢 🌍Foreign enterprises planning to do business in Norway need to register with the Brønnøysund Register Centre (the Norwegian company register). One of the options is to register a Norwegian branch of a foreign company, also known as an NUF. In our latest blog post, Axel Bjørke guides you through the process of establishing an NUF. Read it here! https://lnkd.in/dsPzNnsq #businessinNorway #companyregistration #NUF

Another wave is coming to hit MNEs (this round regardless of size)… with the signing of the multilateral instrument to facilitate the implementation of Subject to Tax Rule (STTR). Broadly speaking, STTR is a treaty-based rule to allow source jurisdiction to impose tax (or tax back) if the income is subject to low taxation in the resident jurisdiction. In ASEAN, Indonesia has signed the MLI and Thailand has expressed interest. Indonesia is moving faster on STTR than GloBE Rules. James Choo Ying Yeo Ying Quan Teo (Dody) Jasmine Chu Hwee Leng Aw Clement Lim #STTR #globalminimumtax #Pillar2

Part 6 available: Learn about the offshore tax exemption in Hong Kong

Companies doing business in Poland are undoubtedly aware of the complexities of SAF-T. Let us help cut through some of the confusion with our free SAF-T Framework: https://lnkd.in/eHTR7vaN

Interesting that the two ASEAN countries on this list have still not drafted any legislation on IIR or QDMTT yet, when neighboring countries are moving ahead. Might we perhaps in time see a breakaway splinter group of countries implementing their own version of non-GLoBE rules?