Member Articles

SyCipLaw's Tax Department has prepared Tax Issues and Practical Solutions (T.I.P.S.) for July which covers the following tax issues: 1. Is a taxpayer always required to make the "payment under protest" under Section 252 of the Local Government Code of 1991, as amended, to assail real property taxes? 2. May services rendered to foreign entities outsourcing manpower recruitment in the Philippines qualify for a zero percent rate of value-added tax ("VAT")? 3 ...

ALRUD has received information from various sources indicating that this increase is under consideration. Reports suggest that the exit tax could rise to as much as ****40% of the valuation**** of the relevant asset. Despite conflicting information circulating in public sources, our contacts within the authorities have stated that ****no official decisions have been made**** regarding this matter ...

On 4 September 2024, the Cabinet Office published further guidance on the Procurement Act 2023 (the ‘Act’) which is now due to “go live” on 24 February 2025. The new guidance covers contract modifications under the Manage phase of the commercial pathway. Contract modifications may need to be made to reflect commercial reality, as demands and circumstances change throughout the lifetime of the contract ...

Taxation of Guernsey Funds Guernsey does not levy any form of capital gains tax, inheritance tax or value added tax. No stamp or document duty, or transfer tax, is payable in respect of companies, unit trusts or limited partnerships that are collective investment schemes. The income tax position for fund vehicles is detailed below. Companies A company incorporated in Guernsey or centrally managed and controlled in Guernsey is treated as tax resident in Guernsey in any year of charge ...

The UK Government has now enacted secondary legislation to reflect the new “go live” date of the Procurement Act 2023 (the “Act”) on 24 February 2025. On 16 September 2024, the Procurement Act 2023 (Commencement No 3 and Transitional and Saving Provisions) (Amendment) Regulations 2024 (SI 2024/959) (“Amendment Regulations”) were made ...

  On the 23rd August, 2024 a new set of regulations (the “Regulations”) were promulgated under Legal Notice 196 of 2024 enabling requests for the amendment or revocation of conditions imposed in the original deed of sale or emphyteusis concerning property transferred by the Government of Malta (the “Government”), the Lands Authority (the “Authority”), or any ecclesiastical entity which subsequently transferred the title to the Government ...

October 2, 2024 By: Manuel Fishman* Beginning on January 1, 2025, landlords of commercial properties – be they office, industrial or retail, will need to develop new procedures when entering into leases with a newly defined class of tenants, identified as “qualified commercial tenants ...