Pearse Trust Blog

New Zealand's Tax System Beats Competition On Simplicity

Posted by Pearse Trust on Wednesday, 17-Jan-2018 13:45:00

When the league tables that rank jurisdictions by regulatory and tax simplicity emerge you can expect to see the likes of Singapore, Hong Kong, and the UAE in the top spots. But, on balance, it’s more often New Zealand that steals the limelight.

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Tags: Tax, New Zealand

UK Government Looks To Extend Royalty Withholding Taxes

Posted by Pearse Trust on Monday, 15-Jan-2018 09:45:00

In the 2017 Autumn Budget, the UK Government undertook to publish a consultation on extending the obligation to account for withholding tax in relation to royalty payments.

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Tags: Legal, United Kingdom

Standard Of Care For Trustee Investments

Posted by Pearse Trust on Wednesday, 10-Jan-2018 14:15:58

The standard of care required of trustees in making investments is something that must be fully understood and adhered to by all trustees. Trustees may be subject to substantial claims from beneficiaries for loss or damage suffered as a result of acts or omissions on their part. If you accept appointment as a trustee, the appointment and your duty of care should be treated seriously.

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Tags: Legal, New Zealand, Trusts

Rise Of The Netflix Tax – VAT On Digital Supplies

Posted by Pearse Trust on Monday, 08-Jan-2018 09:45:00

Those about to binge on the latest season of their favourite TV series online are probably blissfully unaware of the tax battle taking place over cross-border digital supplies. The businesses supplying such services, however, would tell you a different story.

Increasingly, countries around the world are making new rules to ensure that items bought by consumers over the internet are subject to sales tax, even when the supplier is based in another country.

Often dubbed Netflix taxes, these measures are generally extensions of existing VAT regimes, designed to close what governments see as a major loophole that deprives treasuries of substantial amounts of tax, while allowing foreign suppliers to undercut domestic businesses on price.

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Tags: Legal, Tax, VAT

Legal Entity Identifier To Play Key Role In MiFID 11

Posted by Pearse Trust on Monday, 18-Dec-2017 09:45:00

MiFID stands for the Markets in Financial Instruments Directive, which is a new piece of EU legislation that ensures harmonised regulation of investment services across all member states of the European Economic Area (EEA).The original legislation, now termed MiFID 1 has been in force since 2007. MiFID 11 has effectively revised and expanded the scope of the original directive, incorporating lessons learned from MiFID 1 and the financial crisis. MiFID 11 will come into force on 3rd January 2018 and seeks to achieve fairer, safer and more efficient markets.

Legal Entity Identifiers will play a key role under the directive’s new data reporting regime.

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Tags: Legal

The EU's UK Tax Probe - What's It All About?

Posted by Pearse Trust on Wednesday, 13-Dec-2017 13:45:00

The United Kingdom may be about to leave the European Union but that hasn’t stopped the EU from policing its tax rules.

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Tags: United Kingdom, Tax, EU

Roles & Responsibilities Of A Company Director

Posted by Pearse Trust on Monday, 11-Dec-2017 09:45:00

The most common company formation in the UK and Ireland is a private company limited by shares. In order to form such a company, two separate roles must be filled, the director and the shareholder. For a company to run smoothly and effectively it is vital that a person filling either role understands their responsibilities and rights.

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Tags: Ireland, Directors, United Kingdom

What's In The US Tax Reform Bill?

Posted by Pearse Trust on Wednesday, 06-Dec-2017 13:45:00

On November 9, the United States took a key step towards the long-awaited reform of the US tax code, when the House Committee on Ways and Means approved a comprehensive new tax reform bill.

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Tags: Tax, USA

Gifting To A Trust

Posted by Pearse Trust on Monday, 04-Dec-2017 09:45:00

In order for a family trust to be properly constituted, some form of asset must be transferred to the trustee to hold upon trust for the benefit of the beneficiaries. The family home, investment properties, securities, a family business, artwork and cash are all examples of assets that are put into a trust.

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Tags: Legal, New Zealand, Trusts

UK SSE Regime Simplified By 2017 Reforms

Posted by Pearse Trust on Wednesday, 29-Nov-2017 13:45:00

The UK offers many advantages as an international holding company jurisdiction which includes the absence of withholding tax on dividend payments to anywhere in the world, broad exemptions from taxation on dividends received and one of the most extensive tax treaty networks in the world. In addition, Finance Bill 2017 included updates which served to make the UK even more attractive in this area with effect from 1 April 2017.

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Tags: United Kingdom, Tax, Shareholders, Shares