Income Tax Law

For quite a long period controversy ruled over the interpretation of the concept
of “accrued to”. The uncertainty was whether the concept means that the taxpayer
must be entitled to an amount or that the amount must be due and payable.
In People’s Stores this uncertainty appears to have been cleared where the court
reiterated the Lategan-principle (see Lategan v CIR 1926 CPD 203, 2 SATC 16)
and ruled that the concept “accrued to” denotes that the taxpayer must be unconditionally
entitled to an amount. This principle and its proper application were
successfully cemented in our law in Cactus Investments (Pty) Ltd v CIR [1999] 1
All SA 345(A) – or at least so it appeared. In the recent judgment of M v CSARS
(14005) [2017] ZATC 1(30 May 2017) it seems as if the certainty as to the
application of the Lategan-principle – or what jurists perceived as final certainty
– is not so clear, certain, and understandable after all. This case note critically
examines the judgment in M v CSARS with specific reference to the time of
accrual of the proceeds of the sale of immovable property.

El presente trabajo busca desarollar los aspectos más resaltantes de la fiscalidad de la asistencia técnica prestada por un no residente hacia el Perú, tanto en la legislación doméstica peruana, como en cuanto a su tratamiento en los CDI suscritos.

Se analiza el problema de la pérdida del escudo fiscal por un reparo generado por la autoridad tributaria, sobre los intereses de un financiamiento, en particular, en el caso de las sociedades que toman deuda para apalancar el pago de dividendos. Se explica la razonabilidad de dicha estructura de financiamiento dentro de las finanzas corporativas y como es que ello satisface la causalidad del gasto para efectos tributarios. Finalmente, se expone cómo se ha resuelto esta problemática en la jurisprudencia comparada, específicamente en República Checa, Polonia, Austria e Isreael.

Thuế là một khoản nộp bắt buộc mà các thể nhân và pháp nhân có nghĩa vụ phải thực hiện đối với Nhà nước. Trong số các nguồn thu từ thuế thu nhập cá nhân thì thuế thu nhập cá nhân từ chuyển nhượng bất động sản là một trong những nguồn thu lớn cho ngân sách Nhà nước. Ngoài ra, việc thực hiện đánh thuế thu nhập cá nhân đối với thu nhập từ chuyển nhượng bất động sản có vai trò quan trọng: tăng nguồn thu cho ngân sách Nhà nước; đảm bảo công bằng cho thị trường bất động sản; là công cụ hữu hiệu nhằm hạn chế việc đầu cơ vào bất động sản. Vì lẽ đó, Nhà nước đã ban hành các quy phạm pháp luật để điều chỉnh vấn đề trên để làm minh bạch trong kê khai, nộp thuế khi giao dịch bất động sản của cá nhân và doanh nghiệp, giúp cho quá trình thu thuế được đúng, đủ và chính xác. Dầu vậy, trong thực tiễn áp dụng luật cũng không tránh khỏi những vướng mắc và thiếu sót, kẻ hở cho người đầu tư, đầu cơ và người dân có những cách trốn thuế và gian lận tinh vi hơn, gây khó khăn cho việc áp dụng dẫn đến làm thất thoát nguồn thu ngân sách Nhà nước. Vì vậy, người viết đã tìm hiểu và chọn đề tài "Pháp luật về thuế thu nhập cá nhân đối với thu nhập từ chuyển nhượng bất động sản" để nghiên cứu những quy định của pháp luật hiện hành và đề xuất những biện pháp nhằm góp ý kiến cho việc thực thi chính sách thuế thu nhập cá nhân đối với thu nhập từ chuyển nhượng bất động sản được ổn định, tránh thất thoát, góp phần làm phát triển thị trường bất động sản.

In 2013 Bangladesh Government enacted a welfare law named 'The Parents Maintenance Act 2013'. There were many possible reasons behind this. Two of them are; in order to ensure social security of the senior citizens and to face the global population aging problem. Global population aging structure has been reshaping in recent decades due to combined effect of decline fertility and increased life expectancy. As a result, elderly population are increasing significantly compare to the young. As the twentieth century, population aging and its social and economic consequences are drawing increased attention from policy makers' worldwide. Likewise, Bangladesh is also concern to face the challenge and secure the proper maintenance of elderly; in 2013 Bangladesh government shifted these responsibilities through the law, making adult children responsible for maintenance of their elderly parents. This article challenges the assumption of benefit from the Parents Maintenance Act, 2013 to face the increasing population aging problem in Bangladesh. Firstly, this paper will represent some reasons behind not providing proper care/maintenance to elderly population by their children or young. Secondly, it will show an overview of Parents maintenance Act 2013. Thirdly, it will highlight some limitations and apparent negative impact of the act. Fourthly, this paper will try to show some encumbrances of the way of success from this Act. Lastly In conclusion, Paper will try to appraisal of this act in the contest of Bangladesh; should there be a law, discuss through the experiences from different countries, how far it will be benefited for elderly parents, children and the government in a long term.

This book explores one of the most fundamental issues of international tax law: the conditions under which a state may assert a taxing claim over business income derived by a person who is neither its national nor its resident. The term “nexus” or “genuine link” is commonly used in international tax scholarship to describe such basic requirements for the exercise of income tax jurisdiction. When it comes to non-residents, income tax is intimately connected to the notion of “source”, in that every state has the right to tax income derived from sources located within its territory.

The main purpose is to analyse the appropriateness of different nexus norms used by states in the taxation of non-resident business income. Particular attention is drawn to developments associated with the global economy, e.g. the introduction and expansion of e-commerce and the rise in cross-border services trade. Methodologically, the value-oriented approach is followed, analysing the research question in light of traditional tax policy benchmarks, such as equity, neutrality and administrability.

A substantial part of the analysis is devoted to the permanent establishment (PE) concept, which acts as a general proxy for the source of business income in a tax treaty context. One conclusion is that the use of a PE nexus in its traditional forms (i.e. fixed place PE and agency PE) places inappropriate restrictions on the tax jurisdictions of the “market states”, where the customer base for taxpayer goods and services is located and important benefits related to the derivation of non-resident income are provided.

This book advocates an evolutionary approach through a new PE-deeming rule based on a de minimis revenue threshold being added to tax treaties, supplementing traditional PE forms. This rule would allow a state to tax a non-resident taxpayer’s business income as soon as he derives an ex ante specified amount of gross revenue from catering to customers located in that state, irrespective of physical presence. The proposal suggests that the administrative concerns surrounding the application of such a rule can be resolved in a comprehensive manner, e.g. by relying on an interim withholding regime in respect of business-to-business payments.

Special assessee are those categories of natural and legal person who are either conferred with some privileges or imposed with a special burden by the Income Tax Act, 1961. Chapter XV of the Income-tax Act, 1961 deals with the chapter called ‘Liabilities of Special Class of Assessee’.
Sections 159 to 181 of The Income-tax Act, 1961 in total amounting to 29 Sections deals with various types of Special Assesses.

Bangladesh is positioned as a link between the emerging markets of South Asia and the fastest-growing markets of South East Asia and ASEAN countries. With the proposed concept of a "Bay of Bengal Growth Triangle" with its apex Chittagong port extending south-west to Calcutta, Madras, and Colombo and the south-eastern arm extends through Yangon, to Thailand, to Penang with the third arm to Colombo, this region has got growing attention of the investment world. In this situation, Bangladesh has one of the lowest tax revenue ratios on GDP in the world. Here is the Tax Revenue ratio on GDP is about 7.5% to 15% and it’s very low among the same categories country. In this dissertation, the report analyses the overall tax collection performance of NBR and its lack of collection procedure & quantitative data analysis.

FORT BONIFACIO DEVELOPMENT CORPORATION vs. COMMISSIONER OF INTERNAL REVENUE- Transitional Input Value Added Tax


FACTS:
Petitioner was a real estate developer that bought from the national government a parcel of land that used to be the Fort Bonifacio military reservation. At the time of the said sale there was as yet no VAT imposed so Petitioner did not pay any VAT on its purchase. Subsequently, Petitioner sold two parcels of land to Metro Pacific Corp. In reporting the said sale for VAT purposes (because the VAT had already been imposed in the interim), Petitioner claimed transitional input VAT corresponding to its inventory of land. The BIR disallowed the claim of presumptive input VAT and thereby assessed Petitioner for deficiency VAT.

The Finance Act, 2020 (Act No. 8 of 2020) has amended 18 laws in Tanzania with a view to imposing and altering certain taxes, duties, levies and fees in order to safeguard the collection and management of public revenues. Among others, the amendments focused on the imposing and enhancing business transparency and compliance. Specifically, the Anti-Money Laundering Act, Cap. 423, the Companies Act, Cap 212, the Income Tax Act, Cap. 332, the Trustees Incorporation Act, Cap. 318 have been amended to impose and deal with the new concept of beneficial ownership

The Finance Act, 2015 amended §6(3)(ii) of the Income Tax Act, 1961 to introduce a new test for determining the residential status of companies. The new test is called the 'Place of effective Management' test for interpretation of which, the Central Board of Direct Taxes has recently issued draft guidelines. This test replaces the erstwhile control and management test which has common law origins and was laid down in a context that best suited the interests of imperial powers. Looking closely at the workings of the erst-while test and comparing it with the definition and draft guidelines on the Place of effective Management test, it emerges that there is much similarity. Further, the government's justifications for making this amendment are on shaky ground which raises some fundamental concerns which need to be addressed first. 'Place of Effective Management' does not have a universally accepted meaning and organisation for economic Cooperation and Development which does recognise the concept, has now recommended adopting a case-by-case approach to determine the residential status of companies to tackle tax avoidance. Alignment of the domestic law with the so-called international standard of Place of effective Management (where it used as a tie-breaker rule in a number of Double Taxation Avoidance Agreements), would only reduce the tie-breaker rule of Place of effective Management to naught.

Analyzing the "ability to pay principle" through the French Constitutional court's tax-related case law, the article suggests that any statute-based non-confiscation guarantee is fragile. Legal certainty over the qualification of excessive or confiscatory levies and a long-lasting taxpayers’ substantial protection can only be ensured by enshrining a non-confiscation guarantee in the constitutional framework, defining the threshold over which compulsory levies are ruled excessive.

This paper examines some of the factors a country must consider when deciding which method, or combination of methods, to use to implement double tax relief, including foreign tax credit, exemption or the deduction method. It examines economic double taxation and juridicial double taxation with a focus on the most common of the two, juridicial double tax.

Tags:
"Double taxation"
"Double tax relief"

CALL FOR PAPERS
We invite you to submit papers and register to participate in the forthcoming 4th Annual International Academic Conference on Taxation of the Chartered Institute of Taxation of Nigeria, with the Theme: Taxation and Socio-Economic Development in Challenging Period. Conference Presentation/participation: Virtual and Physical and is scheduled to hold as follows:
Venue: Benue State University, Makurdi, Benue State, Nigeria.
Date: August 15 - 17, 2021
Registration for the conference is strictly online at https://citnevents.org/academicconference/

Abstracts and Full papers for the Conference should be sent to  researchandtechnical@citn.org  and maryfidelisabiahu@citn.org.

Proceedings will be submitted for indexation by:
Conference Proceedings Citation Index, Semantic Scholar, Google Scholar and Microsoft Academic.

Conference Important Details:
• Conference Registration fee: N30,000 or $80 only
• Deadline for the Submission of Papers: July 9, 2021
• Deadline for Submission of PhD Colloquium papers: July 9, 2021 
• Deadline for the Submission of Papers: July 27, 2021
• Arrival and Conference Registration: August 15, 2021
• Opening Ceremony & Conference Activities: August 16-17, 2021 
• Conference Presentation/participation: Virtual and Physical. International and national participants who opt for virtual participation and presentation will be provided with Zoom Webinar access to participate during the opening/closing ceremonies, Conference Workshops, Lead paper Presentations and PhD Colloquium.

Conference Director: Conference Chairman:
Professor Rafiu Oyesola Salawu Prof. Kabiru Isa Dandago
Professor of Accounting Professor of Accounting
Obafemi Awolowo University, Ile-Ife, Nigeria. Bayero University Kano, Nigeria
(osalawu02@yahoo.co.uk) (kidandago@gmail.com)


Abiahu, Mary-Fidelis Chidoziem, M.Sc, MCIB, FCA, ACTI
Secretary, Conference Committee (maryfidelisabiahu@citn.org)

The authors focus on identifying possible forms of expressing the legal nature of virtual (digital) currencies, respectively crypto-assets and want to determine the effects of different ways of expressing the legal nature of virtual (digital) currencies, respectively crypto-assets for their taxation in the Slovak Republic. In addition, the paper deals with the identification of current legislation on the issue of taxation of virtual currencies in the field of direct taxation and indirect taxation in the Slovak Republic and the goal is the synthesis of basic theoretical-legal and legal-application  hortcomings of current legislation, even in the context of the case law of the Court of Justice of the EU.

Permanent and temporary nature of leaving the Country. What is the definitive statement of departure of the Country and who needs to do it? Potential consequences of the definitive withdrawal from the Country. An analysis of the Normative Instruction number 208 of 2002.

Sobre la Naturaleza Jurídica de los Pagos a Cuenta del Impuesto a la Renta:

Se muestra la (in)consistencia en la que incurren quienes sostengan, conjuntamente,  que la modificación de los elementos de cálculo de los pagos a cuenta del Impuesto a la Renta con fecha posterior al surgimiento de su obligación y pago no constituye un incumplimiento (y, por ello, no genera intereses moratorios), y que sin embargo, sí implica una infracción sancionadas con multa.

A nivel dogmático, se propone la solidez de una interpretación de las reglas de los pagos a cuenta en el sentido que establecen una obligación  "accesoria" (a una obligación principal, constituida por el IR Anual) y "temporal", es decir, que se agota conforme a los elementos vigentes al momento en que surge la obligación.

Being a South African expat myself, based in Guangzhou PR China, as well as a tax professional, I’ve found myself of course in the same position as any expat starting to work in another country. The same questions any expat has to deal with, I had also experienced first-hand, besides already possessing the technical knowledge to properly ascertain my SA Income Tax obligations. Added to that, due diligence requires that any expat should, on a regular basis, re-examine the tax treaty between the country they are working in, and SA, as well as monitor (via their professional tax consultant) any potential changes in the SA Income Tax Act.

In the midst of performing my own bi-annually due diligence Income Tax status check, and at the same time noticing some posts regarding expats and their SA Income Tax obligations that seemed to cause some confusion, I proceeded to compile this brief analysis (and guide, if you like) of the following obligations of every SA expat that leaves the RSA to start working in another country :

• The obligation to register for SA Income Tax, or not ;
• The obligation on whether an annual income tax return must be filed, or not ;
• The liability, if any, for paying tax on employment income earned by a South African person working in another country (hereafter “expat”).

The Australian Taxation Office (ATO) considers ALL animals sold as part of a primary production business to be trading stock. However, the word ALL is not contained in s 995 of the Income Tax Assessment Act 1997 (Cth) (ITAA 1997), rather the ATO view is based on its interpretation of the findings of Federal Commissioner of Taxation v Wade (Wade Case). This paper looks at the cases examined by their Honours in the Wade Case and similar cases related to the sale of livestock. It argues that findings of the Wade Case may have been misinterpreted, and that the ATO view is not as valid as is generally accepted. It argues that the revenue from sale of stud, or breeding, animals should be taxed under the capital gains tax provisions of the ITAA 1997 and not as income according to ordinary concepts.

El artículo reseña las principales bondades fiscales y aspectos tributarios a tomar en cuenta al momento de hacer negocios e inversiones en el Perú en sectores económicos clave como Minería, Hidrocarburos (petróleo y gas) y energía. Se describe los puntos más relevantes del marco legal de la inversión extranjera, la fiscalidad en el impuesto a la renta e impuestos indirectos, así como en los convenios para evitar la doble imposición (CDI). Finalmente se trata la fiscalidad específica de estos sectores como impuestos a la minería u otros gravámenes.

Este estudio pretende establecer, por un lado, el grado de
cumplimiento de las obligaciones de revelación de posicio-
nes "scales inciertas por parte de las empresas públicas
peruanas. En atención a los PCGA vigentes en el Perú, estas
empresas deberían reportar su situación tributaria y, cuando
corresponda, sus posiciones "scales inciertas; y, por otro lado,
los casos en los que las operaciones realizadas por las empre-
sas peruanas con vincu ladas y/o con contrapartes no domici-
liadas podrían generar problemas de erosión de bases impo-
nibles pasibles de generar una posición "scal incierta que
debiera ser revelada.

Art and culture are enormously important elements of the social life, which require however public support. The aim of the studies was a critical analysis of the structure and functioning of tax instruments that support the development of culture and protection of its heritage, applied in income taxation system in Poland. As a result of conducting the studies it was to be determined what instruments of indirect cultural support were introduced in the structure of the Polish income taxes, whether they are typical for modern fiscal systems, or peculiar to the Polish system, what are their social and economic effects, whether these instruments are adjusted to the needs and social beliefs, what enhancements should be introduced to them and whether they could be applied in other countries. The legal-dogmatic, comparative and statistical methods were used in this study.

Sumário: 1. Introdução. 2. A matriz constitucional do imposto de renda. 3. Noção básica do conceito de renda. 4. A disciplina do Código Tributário Nacional sobre o imposto de renda e proventos de qualquer natureza. 5. Conceitos de patrimônio e de acréscimo patrimonial 5.1. Conceito de patrimônio no Direito Civil. 5.2. Conceito no Direito Tributário. 6. Indenização. 6.1 Conceito e espécies. 6.2. As distintas espécies de indenização e a repercussão delas no patrimônio do indenizado. 7. Análise de casos. 7.1. Desapropriação. 7.2. Lucros cessantes. 7.3. Dano moral. 7.4. A tendência majoritária da jurisprudência em diversos casos. 8. Conclusões.

La discriminazione qualitativa consiste nel trattamento differenziato di redditi, il cui possesso manifesta diversa capacità contributiva in ragione della fonte patrimoniale. Concorre dunque ad assicurare, più che derogare, all’uguaglianza tributaria. Poiché l’apprezzamento delle situazioni che esprimono capacità contributiva spetta al legislatore, nel limite della ragionevolezza della differenziazione e della coerenza della relativa disciplina, i vincoli più stringenti alla discriminazione qualitativa non sono di ordine costituzionale, bensì dipendono dalla struttura dell’imposta sul reddito. Le possibilità di discriminazione qualitativa tra redditi di lavoro sono dunque limitate nell’Irpef.

In this work on the Single Tax Principle, the author presents an analytical overview of the subject, describing from the origin of this principle to its legal-normative contours, which ended up being accepted, in a way, by the BEPS Project of the OECD.
The principle of single taxation corresponds to an attempt to avoid non-taxation or under-taxation of income and double taxation. In this book, readers have encountered the concepts that are linked to taxing cross-border income only once and not more than once.
For this, the principles of residence and source, the elimination of double taxation, benefits and others are addressed, as a way to understand how income taxation guided by the principle of single taxation could be operationalized in practice. Afterwards, the author analyzes the principle of contributory capacity and, consequently, a minimum of justice in the taxation of cross-border income.
Finally, the author weighs up some actions of the BEPS Project of the OECD, which would correspond to the primacy of the guidelines of the Principle of Singular Taxation, and evaluates possible applications of its implementation in global tax policies, concluding that this principle could be the basis for new future legislation.

La presente investigación indaga sobre los beneficios que el
derecho tributario guatemalteco puede obtener de implementar prácticas contables de primer orden, respecto de la presentación y revelación de estados financieros, y ello con el fin ayudar a mejorar las prácticas contables del contribuyente pero a reglón seguido también, con el objeto que redunde en una fiscalización más eficiente por parte del ente recaudador, al menos en el ámbito del Impuesto Sobre
la Renta

In ever-growing economies, for business entities, the acquisition, consolidation or merger options are impeccable to endure and relevant in the market. Globalization coupled with faster developments in technology is further challenging to both the centuries-old businesses and the new entities alike. The term Merger and Acquisition (hereinafter ‘M& A’) is a broader one and includes other forms also, to say, amalgamation, acquisition via business purchase, share purchase, slump sale and itemized sale, combination, capital restructure via buyback and capital reduction, reverse merger and demerger. History records seven-periods as ‘Merger Waves’  caused by the aforesaid reasons. The first six-merger waves occurred between 1897 and 2007 and seventh wave from 2011 onwards. In India’s context, the first major M&A attempt was witnessed during 1983 when Sri. Swaraj Paul, a London-based industrialist bid to take management control of two Indian entities viz. Escorts Limited and Delhi Cloth Mills Limited followed by India Cements attempt on Raasi Cements Limited during 1998. Recent past successful attempts can be listed as Vodafone Group Plc.’s business transfer deal with Hutchinson in 2007, Emami Limited’s acquisition of Zandu Pharmaceutical Works Limited in 2008, Vedanta Resources Plc.’s acquisition of the stake in Cairn India in 2011, Walmart Inc.’s acquisition of the stake in Flipkart Private Limited and Idea Cellular’s merger with Vodafone India, Hindustan Unilever Limited’s all-stock acquisition of GlaxoSmithKline Consumer Healthcare Limited during 2018 and the latest one by Larsen and Toubro’s acquisition of the stake in Mindtree Limited during March 2019. Meanwhile, sensing the hostile bidding attempts and to regulate ‘M&A Regime’, the Indian Government has brought in a number of legislations with suitable amendments as and when its found necessary such as Industrial Development and Regulation Act, 1951, Monopolistic and Restrictive Trade Practice Act, 1969, Foreign Exchange Regulation Act, 1973 (now replaced with Foreign Exchange Management Act, 1999), Companies Act, 2013, SEBI (Listing Obligation & Disclosure Requirements), 2015, SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, Income Tax Act, 1961, Delisting Regulations 2009, Indian Accounting Standards or Ind-AS, Competition Act, 2002, recently introduced Insolvency and Bankruptcy Code, 2016, GST Laws and proposed changes in Foreign Direct Investment to regulate e-commerce sector. The current article predominantly deals with income tax law perspective.