Lump Sum Taxation In Switzerland: Recent Developments

1. Stricter Rules for the Lump Sum Taxation in Berne
Last weekend the people in the canton of Berne voted on whether to abolish the lump sum taxation. With a majority of two thirds wanting to keep lump sum taxation the canton continues to preserve the same system. Significantly, with an overwhelming majority of 92% the community of Saanen (which includes Gstaad where lump sum taxation has a strong economic impact) clearly rejected the proposal […]

By |October 1st, 2012|

Namibia: Best Practice On Staying VAT Compliant

The VAT Act contains several prescribed methods on treating VAT, accounting for VAT and declaring VAT. Considering the fast pace at which business is conducted daily, here are some useful tips on ensuring your business maintains momentum while being on the right side of the Act.
10 Important Principles
1. VAT registered entities collect VAT (output tax) on behalf of Government – please make sure that you pay it over on time, otherwise penalties and interest […]

By |September 6th, 2012|

Finland: Taxpayer’s Trust In The Tax Administration’s Statements Presented In Their Publications Is Protected

Background and starting points
Section 26(2) of the Finnish Act on Taxation Procedure provides regulation on the protection of taxpayer’s trust, in other words, the so-called principle of protection of legitimate expectations. The provision stipulates the conditions in which the taxpayer may be entitled to protection of legitimate expectations, and how the protection is provided. The intention of the principle is to increase the predictability and legal safety of taxation. From the taxpayer’s point of […]

By |September 5th, 2012|