Brazilian Concept Of Tax Havens

The concept of tax heavens or privileged tax jurisdictions has been expanded by Federal Law 11.727 and consequently, the traditional black list of jurisdictions that receive “special” tax treatment by Brazilian Tax Authorities is no longer applied strictly.

In fact, after Law 11.727, the Brazilian Federal Revenue Service may apply more stringed taxation rules even if the jurisdiction is not expressly black listed.

Article 22 has included in the concept of tax heaven all jurisdictions where […]

By |July 17th, 2012|

Tax Incentives In The Kingdom Of Saudi Arabia

The Kingdom of Saudi Arabia (the “KSA”) possesses one of the largest economies in the Middle East and North Africa (MENA) region. The KSA’s economy is heavily dependent on Oil revenues. This dependence on Oil led to pressures to diversify, liberalize and reform the economy.

To achieve the desired liberalization and reform, policies focused on privatization and investment promotion. Private investment was encouraged and the KSA turned to Foreign Direct Investment (“FDI”) as an appropriate […]

By |July 11th, 2012|

Costa Rica: New Tax Bill’s Impact On The Real Estate Industry

All of us living in Costa Rica have been following the latest news on the imminent approval in Congress of a new tax bill introduced by the Chinchilla administration which contains substantial amendments to our current tax legislation. Much of the latest discussion in the media has focused on the discouraging effect of these reforms for foreign direct investment, with an emphasis on free trade zones. It is however a bit disconcerting to me […]

By |June 27th, 2012|