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Seychelles' National Assembly amends Business Tax Act to comply with European Union tax obligations Victoria, Seychelles | December 15, 2020, Tuesday @ 14:37 in Business | By: Sharon Ernesta | Views: 4338 According to Hassan the main reasons for the amendments were to meet European Union obligations concerning taxation and also to better protect the island nation.(401K 2012 Flickr) Photo License: CC BY SA Send to Kindle (Seychelles News Agency) - In a move meant to comply with tax obligations of the European Union (EU), the National Assembly of Seychelles has approved amendments to the islan...

panama beach To address concerns raised by the EU Code of Conduct Group for business taxation (the Code Group), and under the OECD's base erosion and profit shifting (BEPS) action plan, in 2017, EU member states began a push for economic substance regulations in the tax policies of both EU member states and third countries. Following its assessment, the EU revealed a list of 13 jurisdictions that needed to deal with their findings regarding the demonstration of economic substance, or be placed on an EU blacklist. In June 2018, the EU issued a scoping paper detailing the economic substance req...

Friday, December 11, 2020 Background The European Union (EU) has a blacklist of countries that do not meet the EU’s criteria on tax transparency, fair taxation, and the implementation of measures to counteract base erosion of profit shifting (BEPS). The EU’s efforts to combat tax evasion go beyond the jurisdiction of the EU. The UAE Government introduced Economic Substance Regulations in 2019 as a response to being blacklisted by the EU for tax purposes following an assessment of the UAE’s tax framework by the EU Code of Conduct Group on Business Taxation. In late 2019, the EU...

Background The European Union (EU) has a blacklist of countries that do not meet the EU’s criteria on tax transparency, fair taxation, and the implementation of measures to counteract base erosion of profit shifting (BEPS). The EU’s efforts to combat tax evasion go beyond the jurisdiction of the EU. The UAE Government introduced Economic Substance Regulations in 2019 as a response to being blacklisted by the EU for tax purposes following an assessment of the UAE’s tax framework by the EU Code of Conduct Group on Business Taxation. In late 2019, the EU removed the UAE from the blacklist.