Techtronic Industries Canada Inc. Decision: Application Of Incoterms® And Other Similar Commercial Terms In QST Matters

In a decision rendered last July 14th,1 the Court of Québec established the impact of commercial terms like “free on board” (F.O.B.) (North America), as well as international commercial terms like Incoterms® in connection with the application of theAct respecting the Québec sales tax (the QSTA), when determining if a taxable supply of corporeal movable property by way of sale is made in Québec (and, therefore, subject to QST) or outside the province (and […]

By |October 29th, 2014|

A Cyprus Holding Company Is Considered By Many Tax Specialist As The Star Of Cyprus Tax Regime. As With Every Master Pieces In This Life, If Something Is Good, It Would Be Good Not For Just One Reason But For Many More.

One of the reason for this situation is the ongoing support of government policy to establish Cyprus as one of the main financial hub in this global economy. A holding company is usually used to hold tangible or financial asset on behalf of investor or beneficial owners. There are many motives for an investor to establish an intermediate (the holding company) between him and the end asset and are as follow:
Confidentiality
In certain economic activities, […]

By |October 29th, 2014|

Canada: Pharma In Brief – Minister Of National Revenue Commences Tax Proceedings Against Generic Drug Manufacturers

On October 23, 2014, the Minister of National Revenue (the Minister) filed Notices of Application in the Federal Court against a number of generic drug manufacturers, including Actavis Pharma Company, Apotex Inc., Mylan Pharmaceuticals ULC, Pharmaceutical Partners of Canada Inc., Pharmascience Inc., Ranbaxy Pharmaceuticals Canada Inc., Sandoz Canada Inc., Taro Pharmaceuticals, and Teva Canada Limited1 (the Respondents), to authorize the Minister to require the Respondents to provide information on rebates and other incentives paid to pharmacies […]

By |October 28th, 2014|