British Virgin Islands: The Use Of Offshore SPVs In Shariah Compliant Transactions Post-FATCA

In recent years and in the wake of the global financial crisis, international financial centers (IFCs) such as the British Virgin Islands (BVI) and the Cayman Islands (Cayman) have faced unprecedented political and regulatory pressure from governments and international organizations to open up and become more transparent in their business practices. LOUISE GROOM, JOANNA HOSSACK and IAN MONTGOMERY discuss the implications for their position as domiciles for Shariah compliant SPVs.

The impression given by certain […]

By |November 27th, 2014|

Australia: FBT and Christmas – Things to consider over the festive season

With Christmas fast approaching it is useful to remember that the Fringe Benefits Tax (“FBT”) minor benefits exemption threshold remains at $300. With this in mind, the value of minor and infrequent rewards and gifts that can be provided to your employees without you as the employer incurring any FBT liability is quite significant.
How much can I spend at our next Christmas party without incurring any FBT liability?

Employee
299

Employee spouse
299

Gift – employee
299

Gift – spouse
299

Total
1,196

The provision […]

By |November 27th, 2014|

South Africa: Base Erosion And Profit Shifting – Treaty Shopping

The concept of base erosion and profit shifting (“BEPS”) has been much discussed at various international forums including the G20 Finance Ministers and Central Bank Governors meeting in July 2013 in Moscow as well as the G20 Heads of State meeting in September 2013.

From a South African perspective, the Davis Tax Committee has been set up, inter alia, in order to address the issue of BEPS in a South African context.

An issue considered by […]

By |November 26th, 2014|