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Introduction of the new CGT charges for non-UK residents
Introduction of the new CGT charges for non-UK residents Further to recent consultations held and announced during the Autumn 2017 Budget speech, the UK Government will be introducing a new taxation of Capital gains tax (CGT) taxes on non-UK residents on disposals of any UK property (i.e. including commercial property)…
South African REIT rules change for new Stock Exchange
South African REIT’s rules to be amended by 2018 South African Income Tax Act. The draft Taxation Laws Amendment Bill of 2018 has brought in new rules to allow the 4 new exchanges licenced in South Africa to also qualify for REIT status. Previously, in order to qualify as a…
Forced Heirship and Succession Rules in Mauritius
Succession rules In most jurisdictions, one of the following two succession routes is adopted in respect to succession and inheritance law. The first route is where there is freedom of testation whereby residents of that country have the right to donate, in a will, their assets to whoever they wish.…
Mauritius Finance Bill 2018 – Critical Amendments to Global Business Sector
Further to the budgetary speech of 2017/2018 on 14 June 2018, the Finance (Miscellaneous Provision) Bill 2018 (“the Bill”) has been released for consultation. The bill incorporates the various measures announced by the Minister of Finance and this newsletter covers the key amendments to be brought to the Global Business…
Mauritius Introduces Citizenship Scheme
The 2018-19 budget presented by the prime minister included as one of its priorities, to enhance the economic growth in Mauritius, by attracting high net worth foreign investors and their families to the country. This budget now allows foreign nationals to benefit from enhanced existing schemes and also the introduction…
Mauritius Budget Brief 2018/2019
Recently the Mauritian Government unveiled it’s latest budget. Osiris has analysed the detail of the budget and how it can impact you. Please download the presentation here
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A New UK register of Beneficial Owners of Overseas Entities
In its commitment to making company and property ownership more transparent, the UK government, in 2016, announced its intention to introduce a public register of company ownership, recording information about who owns and controls UK companies. The proposed register will require overseas companies that own or buy property in the…
New rules for taxation of intra-group financing arrangements
On 30 June 2017, the Cyprus Tax Authorities (CTA) issued a Circular, guiding taxpayers on the implementation of new rules relating to intra-group financing activities in Cyprus from 1 July 2017. The Circular applies to intra-group financing activities where loans are granted by a company to related parties, financed by…
Introduction of 2 Tiered Profits Tax System
On 29 December 2017, the Hong Kong government sought to implement a two-tiered profits tax rates regime. Under the proposed regime, the profits tax rate for the first HKD 2 million (approximately US$250k) of profits of corporations will be reduced to 8.25%, while the standard profits tax rate of 16.5%…