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eBulletin
International Tax & Private Wealth

October 2020

Table of Contents

1. WLG Happenings ↓

2. Firm Legal Updates  ↓

3. Nonmember Sign Up  ↓

4. Group Leaders ↓

5. Submit Content ↓

Brazil: TozziniFreire Advogados Announces New Partner in Its Tax Practice

Lisandra Pacheco comes to boost the tax team and her hiring is part of the firm’s strategic planning for 2021. She specializes in indirect taxes, global trade, and focuses her practice on advisory and administrative litigation, assisting local and foreign companies from different industries.

Russia: Russia and Cyprus Sign Protocol Amending Double Taxation Treaty

On September 8, 2020, Russian and Cypriot authorities signed a Protocol amending the applicable double taxation treaty (DTT).

Philippines: Tax Issues and Practical Solutions - Vol. 2

Are non-resident foreign providers of digital services to Philippine residents subject to Value-Added Tax? How do you determine the fair market value of shares of stock not listed and traded in a local stock exchange? Learn the answers to these questions and more.

Thailand: Land and Building Tax Due by the End of August 2020

This article provides an overview of key aspects of the Land and Building Tax Act, as well as outlines temporary reductions that apply to tax payments in Thailand in 2020.

United States: Does the Golden State Want Your Gold? 

The California Legislature recently resumed discussion of enacting a new California wealth tax. If the "Wealth Tax Act" is enacted, a 0.4% tax would be imposed on the worldwide net worth of California residents in excess of USD 30 Million.

Peru: Use of Discretionary Powers by Customs Intendancies for Certain Regions

The Tax Administration Authority approved the use of discretionary powers by the Customs Intendancies for certain regions under localized social isolation to not initiate proceedings or sanction certain customs infractions established in the General Customs Law.

United States: Proposed Regulations for Aircraft Management Services Exemption to Federal Excise Tax

Section 4261 of the Internal Revenue Code generally imposes a 7.5 % aviation excise tax on amounts paid for “taxable transportation". However, certain “aircraft management services” are exempted from the tax after paragraph (e)(5) was added to IRC section 4261.

Portugal: Recent Tax Measures to Support Micro, Small and Medium-Sized Enterprises

A major economic crisis has been caused by the pandemic associated with the new SARS-CoV-2 Coronavirus and the COCID-19 disease. In this context, Law 29/2020 was published on July 31 to establish new tax measures to support cooperatives, micro, small and medium-sized enterprises.

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