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Corporate Tax

31 January 2020
Elena Christodoulou European Union tightens net on e-commerce VAT evasion

European Union - Elias Neocleous & Co LLC

Tackling e-commerce fraud is high on the European Union's political agenda, with significant effort being put into creating new rules to combat value added tax fraud in particular. An important step in this regard has been the introduction of a significant number of changes to the existing rules on e-commerce taxation.

Author: Elena Christodoulou
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Simona Zangrandi Budget Law 2020 – a corporate tax overview

Italy - Studio Legale e Tributario Biscozzi Nobili Piazza

In December 2019 Parliament passed the Budget Law for 2020 and a related tax law decree. Most of the new provisions apply from 1 January 2020 or will become applicable in 2020. For example, as of 2020, the tax on financial instruments held abroad and on foreign real estate also apply to non-commercial entities (including trusts and foundations) and certain Italian tax-resident partnerships. This article summarises the main changes applicable to corporate entities.

Authors: Simona Zangrandi, Franco Pozzi
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Stephen P Kranz New York considers 5% gross receipts tax on almost every corporation

USA - McDermott Will & Emery

The New York General Assembly recently introduced Assembly Bill A9112. An identical New York Senate companion bill has been referred to the New York Senate Committee on Budget and Revenues, after being introduced in May 2019. The bills would impose an additional 5% tax on the gross income of every corporation with data-derived income from New York customers, but provide no further details or limitation on the scope of the proposed new imposition language.

Authors: Stephen P Kranz, Diann Smith, Joseph Henchman
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Recent updates

Anat Shavit Tax implications of sale of functions, assets and risks to affiliates

Israel - Fischer Behar Chen Well Orion & Co

Authors: Anat Shavit, Jonathan Shtang
Valery Narezhniy Main changes to company taxation in 2020

Russia - Gorodissky & Partners

Author: Valery Narezhniy