Germany: Update: AIFM Tax Act Passed Both Chambers Of Parliament

The German Act on the Adaption of Investment Fund Taxation in Connection with the AIFM Directive (the “AIFM Tax Act”) that did not pass the legislative process prior to the Federal Election in September now passed both chambers of the German Parliament (resolution of the German Bundestag on 28 November 2013 and approval of the German Federal Council on 29 November 2013). The new AIFM Tax Act is substantially similar to the resolution of the former […]

By |December 3rd, 2013|

United States: Tax Tech Bytes …..

New York
A New York tax reform panel recommended  that New York tax digital products. The 11-member commission on Tax Reform and Fairness created by Gov. Cuomo stated that New York loses out on $ 35 million a year by not taxing digital products. However, lawmakers who are up for re-election may prevent the imposition of a tax on digital goods, which would almost certainly be viewed as a new tax.  Be on the lookout for more […]

By |December 2nd, 2013|

United Kingdom: HMRC Partnerships Consultation

Earlier this year, HMRC started a consultation on two aspects of the partnership tax rules with a view to:

clarifying the difference between self-employment and an employment relationship with regard to LLP members; and
countering the manipulation of profit or loss allocations to achieve a tax advantage.

Disguised employment relationships
What is the issue?

The first strand of the Consultation focused on arrangements to avoid paying certain employment taxes because the “employee” is a member of an LLP. Currently, […]

By |December 2nd, 2013|