CRA runs free information sessions for Registered Charities

Many people are not aware that Canada Revenue Agency offers free information sessions to all registered charities.  Although there are no upcoming sessions scheduled for Vancouver, British Columbia, it would be beneficial for charities to keep a close…

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The End of the HST in British Columbia

On April 1, 2013, nearly every provision of the Provincial Sales Tax Act (“PSTA”) shall come into force, and the existing Harmonized Sales Tax's brief interlude in British Columbia, shall come to an end. In a political sense,…

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If Artwork can’t be sold should it valued at $0?

A recent article in the New York Times covers an interesting position taken by the IRS in relation to a piece of artwork entitled “Canyon” and created by Robert Rauschenberg (the “Artwork”).   The “sculptural combine” Artwork includes a…

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Where does a Trust Reside – Canada or Barbados?

A recent landmark decision of Fundy Settlement v. Canada, 2012 SCC 14, issued by the Supreme Court of Canada (the “SCC”) on April 12, 2012, has clarified the rules for determining where a trust is resident for the purposes of…

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United States Citizens and Tax

Many United States (“US”) citizens living around the world may not be aware of the US tax reporting requirements that every US citizen, regardless of where they live in the world, has an obligation to file a federal…

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Canada – UK Tax Treaty – Rates of Withholding Tax

Set out at the bottom of the first page of the linked document, “Countries with Double Taxation Agreements with the UK – rates of withholding tax for the year ended 5 April 2010”, are the operative withholding tax…

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UK: Greater Certainty on Tax Policy

The Government today published a draft Tax Framework for business. Developed in discussion with the Business-Government Forum on Tax and Globalisation, the document is intended to provide greater certainty for large businesses about the Government’s approach to the…

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Russia: Judicial Trends in Thin Capitalization

For the purpose of protecting domestic interests, most states limit taxpayers’ ability to recognize interest on loans or credits as expenses reducing corporate profit tax payments, particularly where such interest is paid to a related entity outside the…

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Malaysia: Broader Based Consumption Tax Proposed

Malaysia is poised to move from a general sales and services tax to a more broad based comprehensive Goods and Services Tax (“GST”).   The benefits of this sort of move is well documented in other countries, including…

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France: The Country Adam Smith Forgot!

France, a country still recovering from the massive “egg on face” tax policy debacle of creating a “carbon tax” that exempted 93% of the population, only to be struck down by the constitutional court, on the grounds that…

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