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Corporate Tax

27 November 2020
James Bergstrom DITC Portal update

Cayman Islands - Ogier

The new Department for International Tax Cooperation (DITC) Portal launched in early November 2020. The DITC has also issued an advisory setting out details of a phased opening of the DITC Portal, confirming that it will initially be available for Common Reporting Standard and US Foreign Account Tax Compliance Act purposes, with functionality for economic substance and country-by-country reporting being launched in subsequent phases.

Authors: James Bergstrom, Angus Davison, Joanne Huckle, Bradley Kruger
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Maurus Winzap Federal Council to request Parliament to abolish withholding tax on bonds

Switzerland - Walder Wyss

The abolition of Swiss withholding tax on bonds and other collective debt financings is a welcome measure that allows Switzerland to significantly strengthen its position as an international finance and treasury centre. All types of financing and refinancing activity in Switzerland will be facilitated as adverse withholding tax consequences can be prevented. This fundamental change of the Swiss withholding tax regime is expected to come into force on 1 January 2022 at the earliest.

Authors: Maurus Winzap, Fabienne Limacher
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Recent updates

Fabienne Limacher Tax relief on employee shares in start-ups and other non-listed companies

Switzerland - Walder Wyss

Authors: Fabienne Limacher, Maurus Winzap
Elena Christodoulou Protocol amending Cyprus-Russia double tax treaty ushers in new era

Cyprus - Elias Neocleous & Co LLC

Author: Elena Christodoulou
Simona Zangrandi New step-up option on taxpayer assets introduced

Italy - Studio Legale e Tributario Biscozzi Nobili Piazza

Authors: Simona Zangrandi, Franco Pozzi
Bradley Kruger Update on economic substance

Cayman Islands - Ogier

Author: Bradley Kruger
Alejandro Ruiz IRS issues proposed regulations intended to clarify carried interest rules

USA - McDermott Will & Emery

Author: Alejandro Ruiz