The Surprises In The New Proposed UK Diverted Profits Tax (DPT) For Overseas Companies – A Personal View

Well, as I predicted in my first blog, something has happened: but it is not what anyone expected!  The idea of a new improved anti-avoidance rule hinted at by the UK Chancellor of the Exchequer, has morphed into a  new proposed tax at 25% on profits diverted away from the UK.

DPT is aimed at so called multinational companies which have diverted their profits away from the UK with a view to encouraging them to change or […]

By |January 30th, 2015|

Nigeria: Tax Appeal Tribunal Says Withholding Tax Is Due On Dividends From Gas Profits

The Tax Appeal Tribunal (TAT) has ruled in favour of the Federal Inland Revenue Service to levy withholding tax on dividends paid out of gas profits by upstream petroleum companies. Under the Petroleum Profit Tax (PPT) legislation, there is no withholding tax on dividends paid from profits taxed under the PPT law whereas dividends from profits which are taxable under the Companies Income Tax (CIT) legislation are subject to withholding tax. The PPT law permits an oil […]

By |January 29th, 2015|

Malta: VAT Alert 02/2015 – VAT Recovery Rights Of iGaming Companies

As from 1st January 2015, Maltese VAT-registered persons required to charge VAT on their supplies within the EU have a right to recover input VAT even though their services are generally classified as ‘exempt without credit’ in Malta. This is pursuant to Act XLIII of 2014. The amendment is of particular relevance to iGaming companies which typically were not in a VAT recoverable position but which as from 1st January 2015 may be obliged […]

By |January 29th, 2015|