Maurice Info Search
Le cabinet a pris connaissance des actions et activités à venir dans les prochains semaines voire moi.
1. Cabinet has agreed to drafting instructions being conveyed to the Attorney General’s Office for amendments to be brought to the Mauritius Standards Bureau Act.
The main amendments proposed to the Mauritius Standards Bureau Act pertain to:
(a) replacement of some existing interpretations which are outdated;
(b) inclusion of two new objectives, namely to operate a National Enquiry Point in consultation with other Ministries and to conduct technical investigations in the field of conformity assessment;
(c) formalisation of activities such as formulation of Mauritian Standards and Metrology/Calibration; and
Mylan Inc. & Subsidiaries v. Commissioner of Internal Revenue (U.S. Tax Court April 27, 2021)
Under the Internal Revenue Code (“Code”) Section 162, ordinary and necessary business expenses are deductible, but Code Section 263 disallows a deduction for capital expenditures (“no deduction shall be allowed” for a capital expenditure). Capital expenditures must be capitalized and are generally recovered as depreciation or amortization deductions over a period of years. “Ordinary” expenses are those “customary or usual within a particular trade” and “necessary” if they are appropriate and helpful to the business’ operation. For a typical patent infringement litigation, the litigation costs to both the patentee and the alleged infringer are considered ordinary business expenses, not capital expenses.
On Monday, April 19, 2021, the federal government tabled
its 2021 Budget,
A Recovery Plan for Jobs, Growth, and
Resilience (the Budget ). Stikeman Elliott LLP has
previously published its commentary on the Budget s principal
tax proposals, available here.
Employers participating in, and administrators of,
defined contribution ( DC ) pension plans or pension
plans that contain a DC component will be interested in one of the
Budget s less heralded announcements: proposed relief under the
Income Tax Act (Canada) (the Act ) for
corrections to historical under- and
over-contributions.
The Issue
Employer under- and over-contributions to DC pension plans occur
with some regularity, including both in respect of a single plan
Le lundi 19 avril 2021, le gouvernement
fédéral a déposé son budget de 2021,
Une relance axée sur les emplois, la croissance et la
résilience (le « budget »).
Stikeman Elliott S.E.N.C.R.L., s.r.l. a déjà
publié son analyse sur les principales propositions fiscales
du budget, qui peut être consultée ici.
Une traduction de ce billet sera disponible
prochainement.
On Monday, April 19, 2021, the federal government tabled
its 2021 Budget,
A Recovery Plan for Jobs, Growth, and
Resilience (the Budget ). Stikeman Elliott LLP has
previously published its commentary on the Budget s principal
tax proposals, available here.
Rudy Mezzetta
The federal government is proposing to eliminate written signatures on a number of key tax forms and to allow the Canada Revenue Agency (CRA) to automatically issue electronic copies of the notice of assessment when returns are filed electronically.
These as well as other tax administration measures proposed in the federal budget tabled on Monday are meant “to improve the CRA’s ability to operate digitally, resulting in faster, more convenient and accurate service, while also enhancing security,” the government indicated.
The federal government proposed to eliminate the requirement that signatures be in writing on these forms:
T183, Information Return for Electronic Filing of an Individual’s Income Tax and Benefit Return;