Pearse Trust Blog

Canadian Court Denies FATCA Challenge – Door Open For Appeal

Posted by Pearse Trust on Monday, Nov 23, 2015

On 16 September 2015, the Federal Court of Canada denied a request for an injunction to prevent the collection and disclosure of Foreign Account Tax Compliance Act (FATCA) information to the United States regarding American citizens living in Canada.

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Tags: Legal, Canada, USA

US Ruling Subjects Foreign Tax Credit Claims To Tax Shelter Test

Posted by Pearse Trust on Wednesday, Nov 18, 2015

In an opinion issued on 9 September 2015, the US Court of Appeals for the Second Circuit confirmed that the "economic substance doctrine" may apply to transactions involving foreign tax credits.

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Tags: Tax, USA

UK For Business - Government Continues To Enhance Business Reputation

Posted by Pearse Trust on Monday, Nov 16, 2015

The UK continues to work on improving its 'UK For Business' reputation, as it strives to be one of the most trusted jurisdictions in, and with, which to do business. Most recently in these efforts, and as a result of the Small Business Enterprise and Employment Act 2015 (‘SBEE Act’), the Companies and Limited Liability Partnerships (Filing Requirements) Regulations 2015 (‘the Regulations’) were published on 18 September 2015. These regulations state that there have been a number of consequential changes to the Companies Act 2006 (‘CA 2006’) for entities such as limited liability partnerships, Societas Europaea and unregistered companies.

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Tags: Legal, United Kingdom

2 Methods Of Settling A Trust

Posted by Pearse Trust on Wednesday, Nov 11, 2015

There are several types of trusts and also several ways to settle them. Trusts can be settled verbally or in writing.  In this blog post, we will examine two methods of settling a trust in writing.

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Tags: Trusts

UK Film Tax Credit - Enhanced Incentive Scheme

Posted by Pearse Trust on Monday, Nov 09, 2015

Following State aid approval from the European Commission, the United Kingdom has this year enhanced its tax incentive scheme for investments in film and television productions located in the UK.

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Tags: United Kingdom, Tax

UK Limited Companies: Accounting Periods & Deadlines

Posted by Pearse Trust on Wednesday, Nov 04, 2015

In this blog post, our third in a series on UK Limited Companies, we focus on the accounting requirements.

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Tags: United Kingdom, Limited Companies

Trans-Pacific Partnership To Boost New Zealand Economy

Posted by Pearse Trust on Monday, Nov 02, 2015

Negotiations on the Trans-Pacific Partnership have concluded between the 12 participating Asia-Pacific countries, as announced in Atlanta on 5 October 2015. 

The agreement will bring big changes to global trade and will deepen economic ties between the Pacific-rim countries of New Zealand, Mexico, United States, Canada, Singapore, Australia, Brunei Darussalam, Chile, Japan, Malaysia, Peru and Vietnam.

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Tags: Tax, Economy, New Zealand, Partnerships

US Considers European-Style 'Innovation Box'

Posted by Pearse Trust on Wednesday, Oct 28, 2015

A discussion draft has been released on legislation to create a European-style "innovation box" regime in the United States, to encourage domestic investment in research and development (R&D).

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Tags: USA, Intellectual Property

EU Resurrects Common Consolidated Corporate Tax Base (CCCTB)

Posted by Pearse Trust on Wednesday, Oct 21, 2015

In June 2015, the European Commission unveiled an Action Plan on corporate tax, which is intended to strengthen the European Single Market, reduce administrative barriers for businesses, and tackle tax base erosion and profit shifting. The central pillar of this plan is the proposed Common Consolidated Corporate Tax Base (CCCTB).

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Tags: Tax, EU

New Zealand Goods and Service Tax: Treatment Of Directors’ Fees

Posted by Pearse Trust on Monday, Oct 19, 2015

The New Zealand Inland Revenue Department (IRD) has released Public Ruling BR Pub 15/10, setting out the Commissioner's view on the New Zealand Goods and Service Tax (GST) treatment of directors' fees. A summary of the IRD’s interpretation follows below.

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Tags: Tax, New Zealand