Tax efficient transfer of U.S. real estate to U.S. recipients
The U.S. tax system imposes an estate tax on non-U.S. residents who die while owning U.S. assets. An exemption of $60,000 is available to non-U.S. residents to lower the U.S. estate tax base. U.S. estate tax is levied on the value of U.S. situs assets owned by a non-U.S. decedent, less the exemption. The U.S. […]
Relevant aspects of the 2022 miscellaneous tax resolution (RMF) in relation to the simplified trust regime for individuals (RESICO PF)
On December 27, 2021, the RMF 2022 was published in the Official Gazette of the Federation (DOF) which is effective as of January 1, 2022 (except in cases where a different date is indicated). Below are some of the most relevant aspects of the RMF in relation to the applicable rules for the RESICO PF […]
Investment incentives in Greece: benefits for many industries
Greece is aiming to promote investment projects and boost the economy with incentives such as tax exemptions or subsidies for personnel costs. The funded measures include, for example, digitalisation projects, investments in sustainable tourism or company environmental and climate protection projects. The Greek parliament has approved the Ministry of Development and Investment’s new legislation to […]
Investment opportunities in Spain: The non-residential market after COVID-19
According to a recent study, the office property market in Madrid will remain below pre-coronavirus levels until 2028. Among the reasons for this are, for example, falling rents or stagnating demand for office space due to home office regulations introduced during the pandemic. Nevertheless, it can be worth investing in office real estate. The Ecovis experts explain […]
Tax benefits for expats in Belgium: New regime as of 1 January 2022
The Belgian government has limited tax benefits for expats in Belgium. Businesses and employees must adjust to new rules from 1 January 2022. The change is due to the increasing number of expats who benefit from the favourable tax regulations in Belgium. The Ecovis experts in Belgium explain what is changing. Conditions for the new tax […]
Retirement allowance Japan: The tax rules change
In January 2022, a change in income tax on retirement income came into effect in Japan. The tax base will increase for employees retiring in and after 2022. Retirement allowance is a lump-sum payment from an employer to an employee when the employment is terminated. In Japan, retirement allowance is traditionally given as a reward […]
Women leadership in Pakistan
In recent years, more and more women in Pakistan have been able to take up paid employment from 19% to 20.53% or hold managerial positions. Here, the average growth in the five best companies is around 18 percent. This is shown by the ‘Women Empowerment Award Survey’, which ECOVIS FAMCO Associates has compiled together with […]
Individual income tax China: Tax benefits for foreign residents extended
China has postponed changes to individual income tax (IIT). Foreign residents can now take advantage of the tax benefits until 31 December 2023. Shortly before the turn of the year 2021/2022, the Chinese government announced that it would postpone the changes in individual income tax planned for 1 January 2022. Those affected can now better […]
Betting in Vietnam: Government eases access to the betting business
The Vietnamese government has drafted a decree, which will allow the Vietnamese to take part in international football betting. In future, foreign investors will also be able to enter the betting business. However, certain criteria must be met in order to set up a betting shop or join an existing company. The changes also apply […]
Construction in Cambodia: A tense situation since the coronavirus pandemic
Output in the Cambodian construction sector fell massively in 2021, also as a result of the corona pandemic. Good cash flow and procurement management is important to mitigate the impact on businesses. The Ecovis experts explain how this can work. According to the Ministry of Information, the construction industry in Cambodia has boomed. From 2000 […]