Ireland: ICAV – Ireland’s New Corporate Funds Vehicle

Ireland is about to introduce a new corporate investment fund vehicle, with a range of attractive advantages, for fund promoters looking to establish, convert or migrate a new or existing corporate fund vehicle.  The Irish collective asset-management vehicle (“ICAV”) will be available for both Undertakings for Collective Investment in Transferable Securities (“UCITS”) and alternative investment funds (“AIFs”)
What is the ICAV?
The ICAV is a new corporate vehicle designed specifically for Irish investment funds.  The ICAV […]

By |April 1st, 2015|

Australia: Your practical CGT framework

The term “capital gains tax” (CGT) is perhaps the biggest misnomer in tax. It is not its own, separate tax on capital gains per se.

For an individual, it is included as part of that person’s assessable income and subject to tax at their marginal tax rate. When a taxing point for CGT happens (referred to as a CGT event) there is a torrent of rules that taxpayers must adhere to so they can fulfil […]

By |April 1st, 2015|

Nigeria: Payment For Gas Flaring Is Tax Deductible

The Tax Appeal Tribunal (TAT) has ruled that the payment made by an oil producing company to flare gas in the course of crude oil production is not a fine to be disallowed for tax purposes but a necessary business expense that is fully tax deductible. This is regardless of whether a written permit was obtained from the government to flare gas.

Gas flaring is the burning of natural gas accompanying crude oil that is being pumped from the ground. […]

By |April 1st, 2015|