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 …
Tag: taxation
Necessity of the Restructuring of the Tax Systems after the end of the Pandemic
Many economies around the world have struggled to maintain a certain level of tax revenue without reducing any current levels of social well-being. Wages in most of the population, especially for low-skilled workers, were low. But the same thing happened with the drastic reduction of the middle class since the onset of the global financial …
The Economic Conclusions of Tomorrow from the Pandemic of Today
World economic activity has reached its nadir due to the Covid-19 pandemic. Both governments and central banks responded with unprecedented fiscal liquidity measures (the former) and increased expansionary monetary policy combined with near-zero interest rates and mass securities markets (the latter). Combined with the easing measures of commercial banks taken by supervisors, they provided ample …
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 …
Corporate Exit Tax
The Corporate Income Tax Act (“CITA”) aim to transpose the rules for exit taxation, described in Art.5 of Council Directive 2016/1164 of the European Union (“ATAD”). Exit taxation applies when a legal person (company) transfers assets or activity or its tax headquarters outside or within another EU member-country. The term ‘asset transfer’ indicates the act …
The Taxation of Stock Options and the Free Cost Provision of Shares to Employees respectively
Incentives for employees to achieve specific corporate objectives are either the provision to them of free shares or stock options in shares, which give them the right to buy shares of their own at a preferential price or of the parent (usually) company of the group. The tax treatment of these incentives in the EU …
The Eurozone/EU Economy for the forthcoming Decade (2021-2030)
The Eurozone & EU economy equally is expected to start recovering by the end of Q3 2021. But until then the economies of the euro area member countries will be characterized by high budget deficits in their annual government budgets, by high public debts (in some euro area member countries general government debt will exceed …
The Eurozone/EU Economy for the Next Decade (2021-2030)
The Eurozone & EU economy equally is expected to start recovering by the end of Q3 2021. But until then the economies of the euro area member countries will be characterized by high budget deficits in their annual government budgets, by high public debts (in some euro area member countries general government debt will exceed …