Maquila Tax Issues in Mexican Tax Amendment Proposal For 2014 Will Affect Operation And Cash Flow Of Maquila Program Holders

The amendment proposal presented to the Mexican Chamber of Deputies on September 8, 2013 by the head of the Executive Branch contains important amendments to the tax regime of maquila authorization holders. If approved as it stands by the Legislative Branch, the proposal would radically change the treatment of the value-added tax (“VAT”) within transactions between maquila companies (a factory run by a U.S. company in Mexico), as well as those between maquilacompanies and foreign residents, and would also […]

By |October 18th, 2013|

Portugal: The Corporate Income Tax Reform: Tax Simplification And Investment Promotion

I. ABSTRACT
In the current economic scenario, any corporate tax regime plays a big role in the promotion of economic growth and the Portuguese regime is no exception, even though it can generate important distortions in investment decisions.

Nowadays, Portugal has a robust corporate tax regime which has been in force for over 20 years, and which has been contaminated by recurrent changes to the tax legislation, specifically tailored amendments and the recent need to raise […]

By |October 14th, 2013|

US Introduces New Tool To Combat Tax Evasion With A Voluntary Disclosure Programme For Banks

On 29 August 2013, the United States and Switzerland issued a joint statement announcing what essentially amounts to a voluntary disclosure programme for Swiss banks, one which carries stiff penalties and is bound to have far–reaching implications.

The programme allows Swiss banks to voluntarily come forward and co–operate with the US authorities in their ongoing fight against tax evasion, within the confines of Swiss law and under protection against prosecution by the US.
How the programme […]

By |October 11th, 2013|