Zambia Budget Speech 2013/14: Key International Tax Changes

The Minister of Finance, Honourable Alexander B. Chikwanda, presented the Zambian 2014 National Budget on Friday 11 October 2013. Here we outline the some of the key international tax changes.
Introduction of a 15% withholding tax on branch profits repatriation
Previously, profit distributions by Zambian branches of foreign companies were not subject to withholding tax. The 2014 budget proposes to introduce a 15% withholding tax on profit distributions by Zambian branches to their foreign head offices.  […]

By |October 28th, 2013|

Japan’s Recovery Agenda

After hitting rock bottom the Nikkei is back on track.

With a massive change in sentiment towards Japan as an investment destination, global investors are suddenly sitting up and taking notice. The Nikkei 225 index has risen from under 9,000 to around 14,000 in less than nine months – a striking gain. No other mainstream stock market has performed anything like as well since Q4 2012.

After more than 20 years of grinding deflation, a new […]

By |October 25th, 2013|

Puerto Rico Enacts Technical Amendments To Major Tax Legislation

On October 14, Puerto Rico enacted legislation, Act 117, which provides technical amendments to the major tax legislation, Act 40, enacted earlier this year.1 Act 40, also known as the Law for the Redistribution and Adjustment of the Tax Responsibility, made numerous changes including the imposition of an additional tax on gross income (“Patente Nacional”), a moratorium on certain tax credits, imposition of sales tax on services and the elimination of the reseller exemption certificate.2
Background
Act […]

By |October 25th, 2013|