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New On The Lowtax Network Today
This feed is published daily with selected new or updated
content from across the Lowtax Network. For a list of Lowtax Network
sites, many of which feature daily news, see
below. |
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| TODAY 12/03: Lowtax
Costa Rica, annual update |
| 11/03 Estonia
Summary PBTG Guide, added to Personal Business Tax Guide |
| 10/03 Lowtax
Labuan, annual update |
| 09/03 Word
Search Puzzle, on Lowtax |
| 08/03 Jobs
For All,
Jeremy Hetherington-Gore blog |
| 05/03 Belgium
Summary PBTG Guide,
added to Personal Business Tax Guide |
| 04/03 New
Lowtax Editor Column,
by Kitty Miv |
03/03  Personal
Business Tax Guide, PBTG, has launched!
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| Providing essential tax news and information
for globally mobile artists, contractors, entrepreneurs, professionals,
small businesses, sportspersons and entertainers. |
| 02/03 Personal
Equity Investment In 2010: Not Just For Expats…, Investors Offshore special feature
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| 24/02 Lowtax
Cyprus, annual update
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| 22/02 Lowtax
Brunei, annual update
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| 17/02 Dubai
- A Stately Business Dome Decreed, Investors Offshore special feature
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| 15/02 Lowtax
Australia,
major content expansion
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| 27/01 Lowtax
Germany, major content expansion
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| Lowtax Network Sites |
| Lowtax Portal:
'Low-tax' business and investment in the top 50 jurisdictions covered in
exceptional detail. |
| Tax News: Global
tax news, continuously updated through the day. |
| Investors Offshore:
The independent offshore and alternative investment guide for expatriates
and the globally aware investor. |
| Law & Tax
News: Daily news and background data on tax and legal developments
for international business. |
| Offshore-e-com:
A topical guide to offshore e-commerce focused on tax and regulation. |
| Lowtax Library:
One of the web's largest and most authoritative business and investment
information sources. |
| US Tax Network:
The resource for free online US taxation information, covering: corporate
tax, individual tax, international tax, expatriates, sales and e-commerce
tax, investment tax. |
| NEW! Personal
Business Tax Guide: Providing essential tax news and information
on business for contractors, entrepreneurs, professionals, small businesses,
artists, sportspersons and entertainers. |
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| Australia Seeks Public Input On Thin Capitalization Rule Changes |
by Mary Swire, Tax-News.com, Hong Kong
Monday, December 21, 2009
Nick Sherry, Australia’s Assistant Treasurer, has released, for public
consultation, draft legislation on proposed changes to the thin capitalization
rules of the income tax law as they apply to authorized deposit-taking institutions
(ADIs).
"The thin capitalization regime is an important tax integrity measure
and this legislation will fine-tune its operation," Sherry said. "It's
designed to ensure Australian and foreign owned multi-national entities do not
allocate an excessive amount of global debt to their Australian operations and
therefore inappropriately reduce Australian profits and tax."
"The rules operate to disallow a proportion of otherwise deductible expenses
where the debt used to fund the Australian operations exceeds certain limits,"
he continued. "But these rules need adjustment following Australia's adoption
in 2005 of International Financial Reporting Standards (AIFRS) on the thin capitalization
position of ADIs."
Amendments made in 2008 adjusted for the impact of AIFRS on the thin capitalization
position of non-ADI entities. The current proposed changes were announced in
the 2009-10 Budget and will apply to ADIs.
It is intended that the proposed changes will have retroactive effect from January 1, 2009,
when AIFRS transitional arrangements began to run out. They will clarify the
circumstances in which treasury shares, the business insurance assets known
as “excess market value over net assets,” and capitalized software
costs are to be recognized for thin capitalization provisions.
The government is requesting further public input on the draft amendments,
with a view to introducing the legislation early next year. Submissions close
on January 15, 2010.
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| THE LOWTAX LIBRARY
One of the web's largest and
most authoritative business and investment information sources. Alongside
topical, daily news on worldwide
tax developments, you can receive weekly newswires or
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reports on a range of legal, tax and investment subjects.
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intelligence reports cover every important aspect of 'offshore' and international
tax-planning in depth, including banking secrecy, the EU's savings tax
directive, offshore funds, e-commerce, offshore gaming and transfer pricing.
Reports are available for immediate downloading or as subscription
services with news pages.
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