United States: Unamicable Split: Inherited Real Property And The Texas Forced Sale Statute

When multiple people inherit an interest in real property, each is responsible for their share of the ad valorem taxes of the property. What happens if one party fails to meet its tax obligations? What recourse is available to a party that pays more than its share of the tax obligations? In Texas, a co-owner may force the sale of an owner’s interest in real property as reimbursement for property taxes paid on the […]

By |January 28th, 2015|

Luxembourg: Taxation Of SCS And SCSp

The Luxembourg Tax Authorities (hereafter “LTA”) have recently clarified the situation on taxation of income realised by Luxembourg partnerships, through the publication of Circular L.I.R. n°14/4 dated January 9th 2015, hereafter the “Circular”.

The tax transparency for income tax purposes applicable to sociétés en commandite simple (hereafter “SCS”) and société en commandite spéciale (hereafter “SCSp”) is not applicable for municipal business tax purposes (which amounts to 6.75% in Luxembourg-City).

The Luxembourg tax authorities have confirmed the […]

By |January 27th, 2015|

UK: Responsible Tax – An Integrated Approach To Tax Transparency

Executive summary
The information that businesses share about their taxes is being examined by a growing range of interested parties. Some companies have responded by explaining their position more fully in their financial reporting or other communications. At the same time, regulators are looking to require at least some companies to report more tax information. What should you be doing now to be ready and able to describe your organisation’s tax position?

In our previous paper […]

By |January 27th, 2015|