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Corporate Tax

January 12 2018
Philippos Aristotelous Taxation of deemed benefits on loans and advances to directors and shareholders

Cyprus - Elias Neocleous & Co LLC

The Tax Department recently issued Interpretative Circular 14, which has clarified the application of the Income Tax Law regarding a deemed benefit which is to be assessed on any drawings, loan or other financial facilities granted by a company to a non-resident director or shareholder or their spouse or close relatives. The circular clarifies that the deemed benefit is taxable in full, regardless of the period of residence of the individual in question.

Author: Philippos Aristotelous
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Alejandro Ruiz Impact of tax reform on private equity and M&A transactions

USA - McDermott Will & Emery

The 2017 tax reform act is now law, leaving private equity and M&A professionals to digest these significant changes and reconcile the new provisions with how they do business. Among other things, the act provides for a permanent reduction of the corporate tax rate to a flat rate of 21% and repeals the corporate alternative minimum tax. The act will be subject to corrections by and guidance from the US Department of the Treasury and the Internal Revenue Service in the coming months.

Authors: Alejandro Ruiz, Jay M Singer
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Recent updates

Philippos Aristotelous Treatment of additional taxes for deemed distribution purposes

Cyprus - Elias Neocleous & Co LLC

Author: Philippos Aristotelous
Varusha Moodaley VAT rulings: how and when to apply

South Africa - Cliffe Dekker Hofmeyr

Author: Varusha Moodaley
Rick Stepanovic Fringe benefits: what the proposed tax bills mean to the employer

USA - McDermott Will & Emery

Authors: Rick Stepanovic, D Finn Pressly

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