Valsen Corporate

India cracks down on directors of Shell companies

Directors of Indian Shell companies that have not filed tax returns for at least three years have been disqualified from re-appointment or from being appointed to similar roles elsewhere, India’s finance ministry said.   The move, part of a crackdown on illegal transactions and tax evasion, comes a day after authorities froze the bank accounts […]

Denmark To Invest In Tax Administration Overhaul

The Danish Government will spend DKK10.5bn (USD1.68bn) in reforming Denmark’s tax administration over the next few years, according to the Tax Ministry. Denmark’s tax authority, the SKAT, will be replaced by seven independent management boards on July 1, 2018, in an attempt to introduce more specialization across a wide area of tax administration.   Last […]

South Africa-Cameroon Double Tax Ageement In Force

The South African Revenue Service (SARS) announced on September 1st that the Double Tax Agreement (DTA) signed with Cameroon in February 2015 had entered into force.The agreement – the first of its kind between the two countries – allocates taxing rights and caps withholding tax rates for certain types of income.     It establishes […]

Greek Shipping Firms Unhappy With Tax Regime

Tax regime instability has been cited by Greek shipping companies as a reason why they would consider switching to an alternative jurisdiction, according to a report by EY. The report, “Repositioning Greece as a Global Maritime Capital” found the lack of a stable regulatory regime and tax issues were “by far” the main disadvantages of […]

UAE’s Federal Tax Authority Agrees To VAT & Excise Rules

The Board of Directors of the UAE Federal Tax Authority has approved various procedures relating to the forthcoming introduction of excise and value-added taxes in the UAE. It is anticipated that the two regimes will be in place by November 2017 and January 2018, respectively. According to local media, the Board also agreed to the […]

BNP Paribas Bank to pay £35m in tax avoidance

BNP Paribas Bank in France lost a case where it has to pay back £35m tax in the UK. HMRC claimed the bank tried to use a tax avoidance scheme involving share dividends using a scheme known as “dividend stripping”. BNP Paribas paid the full amount of tax before the tribunal was heard which dealt with a […]

What to Consider When Choosing a Company Structure

When starting a business, one of the most important decisions owners must make is in choosing a legal company structure. The structure will affect a number of things about the company structure, including how it will be run and taxed; whether it will be recognized as a legal entity separate from its owners. Entrepreneurs must, […]

8 Reasons To Take Your Company Offshore

Offshore company outsourcing is a new business practice that continues to transform economies. Offshore outsourcing means relocating business functions from one country to another in order to achieve superior and constant performance in a relentlessly competitive marketplace. The greatest misconception about offshore business is tax evasion and hiding money from governments. No matter what you’ve […]