Ireland: International Business Group Update – Companies Act And Knowledge Development Box

Our first International Business Group update of 2015 will bring you updates on a number of key Irish and EU legal developments that may impact your business in Ireland.
Ireland update
Forbes’ “Best Countries to do Business” report 2014 ranked Ireland as one of best locations in which to invest.  It was no surprise then that there were an additional 197 new investments by multinational organisations in Ireland during 2014 representing a 20% increase on 2013.  This […]

By |February 25th, 2015|

China’s Tax Administration Issues New Rules Governing Taxation Of Offshore Indirect Transfers

On February 3, 2015, the PRC State Administration of Taxation (“SAT”) released the Announcement of SAT Concerning Several Matters Relating to Corporate Income Tax on Indirect Transfer of Properties by Non-tax Resident Enterprises, Announcement [2015] No. 7 (国家税务总局关于非居民企业间接转让财产企业所得税若干 问题的公告, 国家税务总局公告2015年第7号; “Announcement 7”). Below is a brief summary and discussion of the application of Announcement 7, which applies to indirect transfers of PRC entities or properties by offshore investors.

Announcement 7 is effective as of February […]

By |February 24th, 2015|

United States: Surprise! You May (or May Not) Owe New Jersey’s Litter Fee

New Jersey imposes a Litter Fee on wholesale and retail sales of certain consumer products in (or into) New Jersey. Although called a “user fee” by the statute, the Litter Fee is administered by the Division of Taxation and is effectively a gross receipts tax on the sale of “litter generating products.” As the name suggests, “litter generating products” includes food and beverages in disposable wrappers. Less intuitively, the tax also applies to things […]

By |February 24th, 2015|