The Special Taxation of Family Offices in the EU

Family Offices companies can have any legal form (Ltd, SA, etc.) other than that of non-profit legal entities. Family Offices can be attended by family members, as well as legal entities or legal entities, in which the natural persons or their family members (spouses, unmarried children, parents) participate. In order for the company to be …

What applies to VAT on bad debts in the EU

Under the law, when a company charges VAT on an invoice or other tax document, it has the obligation to reimburse the tax to the tax authorities, regardless of when and if it collects it from the counterparty. Therefore, in terms of VAT, companies essentially act as “tax collectors” on behalf of the tax authorities, …

Industry and Tax sector

A developing country that wants to continue to provide its citizens and businesses, respectively, with opportunities to expand their digital services and platforms, must continually create easy-to-use tools and platforms and push more citizens and businesses to adopt intact digital way of fulfilling their tax obligations. A typical example of such a service is the …

Taxation of Non-Produced Wealth

The American tax system, like most western countries’ tax systems, only taxes wealth produced, such as wages and share/bond sales. In this case, however, in wages/salaries and sales of securities, taxation is mainly borne by the labour and the lower (wages/salaries) but also by the middle-income classes of society respectively leaving untouched any wealth that …

G20: The US Proposal for the New Architecture of the Global Tax System

Discussions in the OECD on the taxation of the digital economy propose the creation of rights to tax jurisdictions on the profits of multinational companies operating in the global digitised economy. In addition, it is proposed to apply a minimum effective corporate tax rate. In April, the US at both the G20 summit and the …

Establishing a Global Minimum Corporate Tax Rate in the Wrong Way

The high budgetary costs caused by the covid-19 pandemic, which most countries on the planet and especially western governments face in conjunction with US President Joe Biden’s new US fiscal policy through the announcement of the Infrastructure program and the intensifying US trade confrontation with China, makes it mature to implement the US proposal to …

Tax Incentives to Businesses for Advertising Expenses

To boost consumption and strengthen trade, companies should be given generous tax incentives to carry out advertising costs. For the financial years 2021 and 20221 and with a view to increasing consumption, undertakings should be able, subject to conditions, to deduct tax on their advertising expenditure plus 100%. by Thanos S. Chonthrogiannis ©The law of …

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