Valsen Corporate

Mauritius : Statement Of Guidance On Income Subject To Partial Exemption 2021

The Mauritius Revenue Authority on 27th January 2021 released a statement on income subject to partial exemption intended to provide clarifications to tax payers and practitioners on the application of partial exemption on specific income following amendments brought to the Second Schedule of the Income Tax Act by the Finance Act 2018 and to the […]

The FSC Issues Special Purpose Funds Rules (2021) For Mauritius

A new set of rules under the Special Purpose Fund (SPF) regime has been released by the Mauritius Financial Services Commission (FSC) to provide further flexibility and ease access to new markets. The Mauritius National Budget which included the modernizing of the existing Special Purpose Fund (SPF) regime to provide further flexibility and ease access […]

Implementation of the Digital Service Tax DST in Kenya 2021

  As the Organisation for Economic Co-operation and Development continue to deliberate on finding a consensus on a universally acceptable framework for the taxation of the digital economy, Kenya is moving ahead with a unilateral tax on digital services. In 2020, Parliament enacted the Finance Act 2020 which inter alia introduced a Digital Services Tax  […]

Brazil’s Supreme Court takes up taxation of software downloads

  The income characterisation and taxation of software transactions has been raising controversies and conflicts in Brazil for a long time. The taxation regime applicable to software transactions in Brazil is quite complex. There are different federal, state and municipal taxes that are potentially applicable to software. That, together with the frequent changes in law […]

Brazil’s Indirect Tax Supreme Court Ruling 2020

  Brazil’s Federal Supreme Court as of late gave a choice concerning the dependability of the duty of the Contribution for Intervention in the Economic Domain (CIDE) on finance and indirect tax. In its choice, the Federal Supreme Court found that the rundown of available bases under Article 149 is non-comprehensive. Further, the Court found […]