The US Department of Treasury announced that the US and Spain signed a Protocol to their bilateral income tax treaty (the Treaty). The Protocol includes twenty-six pages of addenda and revisions to the Treaty. The Department of Treasury highlighted some of the Protocol’s changes to the Treaty: 1) the Protocol provides for “exclusive residence-country” taxation…
DetailsOn December 3, 2012, the US and Switzerland initialed a bilateral agreement to implement Foreign Account Tax Compliance Act (FATCA) (the agreement must still be approved by the Swiss Parliament). Previously, on November 20, 2012, Spain announced that it had agreed to a bilateral agreement implementing FATCA and on November 19, 2012, the IRS announced…
DetailsBy Ji Zhang, Esq., 2012/07/26 When foreign companies work through US subsidiaries to conduct business in the US, it can bring up complicated issues of who should be held responsible for the tax, and at what rate. For example, during years 2004-2007, DeCoro Limited (Parent), a Hong Kong limited liability company, manufactured furniture in China. DeCoro USA…
DetailsIntroduction Under Guo Shui Fa (1996)(87), Guo Shui Han (2008)(952) and the revised Business Tax Law, China imposes a 4.25% outbound shiptax—consisting of 1.25% enterprise tax and 3% business tax—on foreign companies’ gross income from transporting goods and passengers out of China. Chinese ship agents are the withholding agents responsible for remitting the shiptax to…
DetailsAs part of National Small Business Week, I would like to discuss the JOBS (“Jumpstart Our Business Startups”) Act enacted on April 5th, 2012. It contains the “CROWDFUND” Act, which allows a new method of investment for start-up companies called “crowdfunding.” The term has been used colloquially for some time, usually in a charitable context,…
DetailsFLOTT & CO PC PRESENTATION ON THE US TAXATION OF INTERNATIONAL SHIPPING INCOME The Associates at Flott & Co PC, 2012/03/08 US Taxation of International Shipping Income from Flott & Co. PC Presentation on the US Taxation of International Shipping Income given to the 2nd Annual Marine Money London Ship Finance Forum by Flott & Co. PC on…
DetailsLast week we discussed mandatory renewable energy requirements like Renewable Portfolio Standards (RPS), the first of three key policies at the state-level that support the growth of solar energy in the U.S. This week, we will address the second two methods of promoting solar power use, Interconnection and Net-Metering. Unlike conventional power sources, solar power…
DetailsRising fossil-fuel prices and environmental concerns have led to a growing demand for renewable energy sources such as solar power. Compared to conventional energy and other renewable energy sources, solar power has the advantage of being generated locally, which both increases efficiency and greatly reduces the costs and environmental impacts of transmission . As a…
Details阅读此文章 The U.S. has many bizarre immigration policies toward high-skilled individuals. Perhaps the most absurd one is the cap on the number of visas allowed per country, regardless of that country’s population size. How many visas are allocated to people of extraordinary ability from China, a country of over 1.5 billion people? Exactly 2,803. The same…
DetailsThe world is getting smaller and more connected every day. Information travels at the speed of light, irrespective of national borders. Unlike never before, technology makes it is as easy to do business with someone thousands of miles away as it is with the person next door. Conducting business in this increasingly interconnected and fast paced…
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