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Corporate Tax

March 09 2018
Alexander Demner Taxation of bitcoin and other cryptocurrencies

Canada - Thorsteinssons LLP

At a basic level, cryptocurrencies constitute property under the Income Tax Act. As such, dispositions of cryptocurrencies ordinarily lead to income tax consequences. Although cryptocurrencies are an exciting development, along with the rewards come a variety of risks, not least of which is tax. Failure to comply with all applicable tax obligations can result in severe penalties and hefty arrears interest.

Author: Alexander Demner
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Gigi Nyanin SARS provides further clarity on VCCs

South Africa - Cliffe Dekker Hofmeyr

The South African Revenue Service (SARS) recently released a binding class ruling which addressed, among other things, the eligibility of a partner in an en commandite partnership to claim a deduction in respect of venture capital shares acquired by the partnership. SARS ruled that subject to the Income Tax Act, each class member will be entitled to claim the deduction pro rata to its proportionate share of the investment in the partnership.

Author: Gigi Nyanin
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Recent updates

Philippos Aristotelous Reference rates for notional interest deduction for 2018

Cyprus - Elias Neocleous & Co LLC

Author: Philippos Aristotelous
Chris Canning Federal Court of Appeal confirms 'half-loaf' plan is subject to GAAR

Canada - Thorsteinssons LLP

Author: Chris Canning
Franco Pozzi New tax rules for dividends and capital gains realised by non-business individuals

Italy - Studio Legale Tributario Biscozzi Nobili

Authors: Franco Pozzi, Simona Zangrandi
Sandra P McGill GILTI rules particularly onerous for non-C corporation CFC shareholders

USA - McDermott Will & Emery

Authors: Sandra P McGill, Gary C Karch, Kevin J Feeley, Susan O'Banion
Gigi Nyanin Deductibility of legal expenses

South Africa - Cliffe Dekker Hofmeyr

Author: Gigi Nyanin