Corporate Tax

December 22 2017
Philippos Aristotelous Extension of country-by-country reporting deadlines

Cyprus - Elias Neocleous & Co LLC

The Tax Department recently extended the deadline for the submission of country-by-country reports to be filed by the end of 2017. The deadline for reporting entities to submit country-by-country reports for multinational groups for the fiscal year ending December 31 2016 has been extended by two months, while the deadline for Cyprus-resident constituent entities to file their notifications for the fiscal year ending December 31 2017 has been extended to January 15 2018.

Author: Philippos Aristotelous
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Varusha Moodaley VAT rulings: how and when to apply

South Africa - Cliffe Dekker Hofmeyr

The process of applying for a value added tax (VAT) ruling is quite efficient and comes at no cost to the applicant. Such a ruling provides guidance as to the South African Revenue Service's views on certain transactions before entering into them and therefore mitigates the risks of proposed transactions. As there is virtually no risk in applying for a VAT ruling, it is advisable to apply for such a ruling in cases of uncertainty.

Author: Varusha Moodaley
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Rick Stepanovic Fringe benefits: what the proposed tax bills mean to the employer

USA - McDermott Will & Emery

In an effort to offset the revenue loss associated with proposed tax cuts, both the House of Representatives tax reform bill and the corresponding Senate draft take aim at the tax treatment of several popular employer-provided fringe benefits. At this early stage of the legislative process, it is important to note that these proposals are subject to change. Nevertheless, it is important for employers to know which of their programmes may be cut or eliminated as soon as 2018.

Authors: Rick Stepanovic, D Finn Pressly
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Recent updates

Louis Botha No trade, no deduction: Tax Court issues Section 11(a) judgment

South Africa - Cliffe Dekker Hofmeyr

Author: Louis Botha
Philippos Aristotelous Further reminder of instalment scheme for tax arrears

Cyprus - Elias Neocleous & Co LLC

Author: Philippos Aristotelous
Robin L Greenhouse Facebook goes to district court to enforce access to IRS appeals

USA - McDermott Will & Emery

Authors: Robin L Greenhouse, K Christy Vouri-Misso
Valery Narezhniy New tax benefits for innovative companies and marquee investors

Russia - Gorodissky & Partners

Author: Valery Narezhniy
Franco Pozzi Notional interest deduction – an overview

Italy - Studio Legale Tributario Biscozzi Nobili

Authors: Franco Pozzi, Simona Zangrandi

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