The concept of taxing income is a modern innovation and requires three things: a money economy, an accurate accounting system, and thirdly, an orderly society. A money economy is a system of trade where money has replaced barter. The word “money” is believed to originate from a temple of Juno, on Capitoline, one of…
Capital city: Vatican City Currency: Euro (€) Population: 842 Language: Italian GDP …
Tax planning strategy 165 Subscriptions, joining fees, levies and contributions paid to professional associations may be deductible under s 8-1 and/or s 25-55. Payments to trade and professional associations may be in the form of joining fees, periodic subscriptions or levies and other contributions. Deductions for periodic subscriptions are available under s 8-1 where it…
An intellectual property box regime is a special tax regime for intellectual property revenues. It is also known as a patent box, innovation box or IP box and was first introduced in 2000 by the Irish as a reduced rate of tax on revenue from IP licensing or the transfer of qualified IP. In Europe…
After 12 months of development our TaxFitness software was launched on Monday 20th February 2017. We are now working on the following software and product enhancements: Upgrading the visual presentation of the Tax Planning Report cover to make it remarkable. Integrating the Client Mud Map form into the software and Tax Planning Report. Tax Planning…
Capital city: Kingston Currency: Australian dollar (AUD) Population: 2,210 (2014) Language: English and Norfuk Norfolk Island is a small island in…
Tax planning strategy 186 A holding company is a parent corporation that owns enough voting shares in another company to control its policies and management. A holding company exists for the sole purpose of controlling one or several other companies. Holding companies also exist for the purpose of owning property such as real estate, patents,…
Alphonse Gabriel “Al” Capone (c1899 – 1947) was an American gangster who attained fame during the Prohibition era as the co-founder and boss of the Chicago Outfit. He gained the nickname “Scareface” after being slashed in the face by Frank Gallucio while working the door at a Brooklyn night club. Capone was born…
Capital city: Luxembourg City Currency: Euro (€) Population: 576,249 (2015) Language: French, German & Luxembourgish GDP …
Tax planning strategy 188 A Child Maintenance Trust (CMT) is a special type of trust set up and established with income earning assets (typically shares or property) to provide support for a child (or children). Under the CMT deed the capital assets can only be distributed to the children for whose benefit the trust was…
"You’d be stupid not to try to cut your tax bill and those that don’t are stupid in business"
- Bono: U2