Malta: Russia To Exclude Malta From Blacklist Of Offshore Jurisdictions

he Russian Finance Ministry has drafted a decree that will exclude Malta from the blacklist of offshore jurisdictions, according to the Russian news agency Tass. The decision followed the signing of an agreement between the Maltese and Russian governments in May. The agreement was on the avoidance of dual taxation and prevention of tax evasion with regard to income tax.

There are 41 offshore jurisdictions in the black list.

Link to the article in Times of Malta […]

By |November 6th, 2014|

United States: Texas Court Rules Natural Gas Destined For Interstate Commerce Properly Subject To Local Property Tax

The Texas First Court of Appeals has ruled that the owner of natural gas stored in a Texas reservoir was properly assessed local property tax, regardless of whether the gas was sold in interstate commerce.1 Rejecting the taxpayer’s contention that the “dormant” U.S. Constitution Commerce Clause rendered the assessment unconstitutional, the Court concluded that the tax did not fail any of the four prongs of the substantial nexus test established in Complete Auto.2
Background
ETC Marketing, […]

By |November 6th, 2014|

Brazil: Federal Supreme Court Understands That ICMS Tax Does Not Make Part Of The Cofins Tax Base

During a judgment session held on October 8th, 2014, the Federal Supreme Court decided by seven votes to two that the ICMS tax does not make part of the COFINS tax base.

The decision was rendered in the Extraordinary Appeal nº 240785 which despite being an excellent precedent, this decision was rendered only for the benefit of Plaintiff in the lawsuit. The Federal Supreme Court´s final decision will be rendered in a Direct Action for […]

By |November 6th, 2014|