May 05 2021
In today’s world, asset management seems mostly about handling risks and
costs in a marketplace that is more competitive and riskier than ever. Within
the industry itself, rivalry has become more aggressive, regulations have grown
even more complex, and technology has further altered the nature of
competition.
As a response to increased cost pressure and new compliance
requirements, especially those triggered by the EU’s second Markets in
Financial Instruments Directive (MiFID II), many asset managers have embarked
on radical changes to their EU operating models.
In light of these developments, the tax impact of these new operating
United Kingdom: Updated OECD guidance on tax treaties and COVID-19
On 21 January 2021, the Organisation for Economic Co-Operation and Development (OECD) published updated guidance on tax treaties and the impact of the COVID-19 pandemic, originally issued by the Secretariat in April 2020. The OECD s guidance reflects the Secretariat s views on the interpretations of the tax treaties and the general approach being taken by member jurisdictions, and illustrates how certain jurisdictions have addressed the impact of the pandemic on the tax situations of individuals and employers. The OECD states that the updated guidance is intended to provide greater certainty to taxpayers during the COVID-19 pandemic.
United Kingdom: Updated OECD guidance on tax treaties and COVID-19
On 21 January 2021, the Organisation for Economic Co-Operation and Development (OECD) published updated guidance on tax treaties and the impact of the COVID-19 pandemic, originally issued by the Secretariat in April 2020. The OECD s guidance reflects the Secretariat s views on the interpretations of the tax treaties and the general approach being taken by member jurisdictions, and illustrates how certain jurisdictions have addressed the impact of the pandemic on the tax situations of individuals and employers. The OECD states that the updated guidance is intended to provide greater certainty to taxpayers during the COVID-19 pandemic.
100.000
COP 3.560.700.000 (Approx. USD 1.020.000)
Or if your gross incomes of the fiscal year 2020 is equal to or greater than:
61.000
COP 2.172.027.000 (Approx. USD 630.000)
If the taxpayer complies with any of the above requirements of gross equity or gross incomes, and also performed transactions with:
Foreign related parties;
Between permanent establishments (branches) and related parties / head office;
When exist joint ventures and other associative structures that do not create societies;
then, the taxpayer must submit to DIAN (local tax authority) the formal duties listed above (numerals 1 to 4).
If the company carries out transactions with enterprises located in tax havens, whether they are related parties or not, it must comply with the fulfillment of the formal TP obligations regardless of the gross equity and gross income thresholds of the table above.
Snapshot: tax considerations for private clients in Spain lexology.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from lexology.com Daily Mail and Mail on Sunday newspapers.