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United States: Proposed California Regulation Confirms Taxation of Nonresident, Non-Employee Director Compensation based on...

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In brief On September 24, 2020, the Franchise Tax Board of California (the FTB) released a proposed regulation — new section 17951-8 of Title 18 of the...

United Kingdom: VAT on break fees and compensation – new guidance sows confusion for...

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HMRC have issued new VAT guidance in relation to termination fees and compensation payments. HMRC now consider that such payments will normally represent consideration for the supply of goods or services and therefore are liable to VAT. This results in uncertainty for many payments which would have previously been treated as compensation and outside the scope of VAT. We have considered the impact of the new guidance below, specifically in the context of M&A transactions.

Europe: COVID-19 – Recovery & Renewal – EMEA Tax Issues – VAT session

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Baker McKenzie's EMEA Tax Practice Group presented an overview on VAT on 13 October 2020, the tenth in a series of short webinars to keep tax professionals abreast of recent developments in these less than certain times.

International Tax: Pillar Two – The new normal for effective tax rates

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In brief After much anticipation, the OECD released the 'Blueprint' for their Pillar Two proposal on 12 October as part of its two pillar package...

Malaysia: Malaysia Refines its Service Tax on Imported Digital Services

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In brief Malaysia caught up with the global trend of taxing cross-border supplies of digital services by introducing a 6% service tax on imported digital...

Spain: The Tax on Certain Digital Services will be applicable as of Q1 2021

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Today, the Digital Services Tax Act ("the new tax") was published in Spain's Official State Gazette and it will enter into force on 16 January 2021. Under this law, digital services for online advertising, online intermediation and data transfers will be subject to taxation in Spain as of 2021.

South Africa: Improved Trade Facilitation Measures Announced

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The South Africa Revenue Service has published a Notice clarifying the customs declaration process under section 64D of the Customs and Excise Act. The Notice outlines the conditions under which bonded goods must be imported into South Africa. Prenisha Govender, Associate in the Tax Practice at Baker McKenzie in Johannesburg, provides the key points.

Global: Pillar One – Overview of ‘the Blueprint

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In brief The Baker McKenzie Global Tax Team has undertaken an in-depth analysis of the 'Blueprint' for the Pillar One proposal to produce a digestible...

United States: Something Fishy in the False Claims Act World

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New York lawmakers recently introduced two bills to expand the application of the New York State False Claims Act (“FCA”).  The first intends to require the FCA to apply to non-filers, the second to remove the scienter element (i.e., no longer imposing a “knowing” requirement).  Although both bills are retroactive and concerning, removing the scienter element should put all businesses on high alert as enforcement of the tax laws could now be in the hands of opportunistic whistleblowers and/or the New York State Office of the Attorney General (AG).

Indonesia: Omnibus Law – Impacts on Healthcare Life Science Regulations

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In brief On 5 October, The Parliament approved the job creation law (RUU Cipta Kerja, commonly known as the “Omnibus Law”). The Omnibus Law is...
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