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Chapter 17: Tax Treaties
Chapter 17 Tax Treaties www.pwc.com/mt/doingbusiness Doing Business in Malta Tax treaty policy Since the mid-seventies Malta has sought to expand its However, the tax levied on the companies under the Income tax treaty network. Most of Malta’s treaties are based Tax Act in such situations will be directly limited to 15% on the OECD model although some treaties (particularly as if the treaty rate applied to the company profits. Rather older ones) contain some material variations therefrom. than a refund on the payment of dividends the investors Some of them include special tax incentives for foreign can therefore qualify for the reduced rate at the company enterprises setting up manufacturing establishments in level at the time that the profits are derived and without Malta. These consist typically in low tax rates on dividends any obligation to distribute the profits to benefit from the arising in Malta supported by tax sparing provisions. Malta’s reduced tax rate. Maltese domestic law also provides that economic development, and particularly the growth in its no tax is payable by non-residents on interest and royalties financial services sector, expanded the scope for tax treaties arising in Malta, subject to certain conditions (see Chapter and in fact currently Malta has over 70 double taxation 11) and, as stated above, this rule applies irrespective of the agreements with almost all the important OECD countries. treaty provisions dealing with withholding taxes on these The current list of tax treaties is given in Appendix VII. categories of income. Similarly, no tax is payable by non- A tax treaty concluded by Malta becomes law by Ministerial residents on capital gains arising on transfers of company order and the provisions arising therefrom apply shares or securities, except where such gains are derived notwithstanding any provisions to the contrary under from the transfer of shares or securities in companies whose Maltese domestic tax law. -
Annual Report 2006
89 MMiinniissttrryy ooff FFiinnaannccee _________________________________________________________________________________________________________ Annual Reports of Government Departments ~ 2006 Ministry of Finance 90 Special Projects Division BACKGROUND The Special Projects Office has the function to undertake and implement a wide variety of initiatives some of which are of a corporate nature and others involving specific Ministry of Finance departments. The major corporate projects undertaken in the year under review were related to overseeing the development of: (a) Accrual Accounting; (b) eProcurement; and (c) eArchiving. Other assignments undertaken during the period under review range from the organisational reform of the revenue earning departments within the Ministry of Finance to the activities of the Co-ordinating Task Force for Own Resources. ACCRUAL ACCOUNTING Work is continuing on the introduction of accrual accounting at all ministries and their respective government departments. Accrual accounting will have a major impact on the way the internal financial business of Government will be conducted, particularly in areas of asset management and the management of debtors and creditors. This financial reform process will cross ministerial and departmental organisational boundaries and have a major influence on the departmental processes related to their day-to- day financial administration. Accrual accounting will provide more meaningful financial information that will enhance the quality of the Government's financial decision-making -
Expatriate Handbook for Bulgaria 2019
www.pwc.bg Expatriate Handbook for Bulgaria 2019 Edition Introduction International assignees working in Bulgaria This booklet traces your assignment to Bulgaria through several steps - what to do before you arrive in the country, what to do once you are here, and what to do before you leave. Following these steps will make your assignment easier and hopefully, more enjoyable. This booklet is not intended to be a comprehensive or exhaustive study on Bulgarian law and the relevant practices. It should be used as a guide as you prepare for your assignment to the country. We would suggest that you seek professional advice before making any decisions, as laws and interpretations in Bulgaria continue to frequently change. This booklet will however give you the preliminary information you can use to define the issues that may be relevant to your situation. The handbook refers to Bulgarian legislation as of 1 June 2019. We would be happy to assist you with advice and practical help. Please contact us at: PricewaterhouseCoopers Bulgaria EOOD 9-11 Maria Louisa Blvd. Sofia 1000, Bulgaria Tel.: + 359 (02) 91003, 9355 100 Fax: + 359 (02) 9355 166 Orlin Hadjiiski Mina Kapsazova Partner Senior Tax Manager Mobile: + 359 897 800 436 Mobile: + 359 897 835 030 [email protected] [email protected] PwC 2 1 Immigration procedures - what to do before you arrive PwC 3 EU/EEA ASSIGNEES I. Entry requirements Being a citizen of an EU, an EEA Member State or Switzerland, you can enter, reside for up to 90 days and depart from Bulgaria with your personal ID card or international passport. -
Doing Business in Malta
www.pwc.com/mt Doing Business in Malta A guide to doing business and investing in Malta October 2012 2013 Doing Business in Malta 1 Contents Foreword Chapter 1: Malta - A Profile 5 Chapter 2: Business and Investment Environment 13 Chapter 3: Investment Incentives 18 Chapter 4: Direct Foreign Investment 30 Chapter 5: Regulatory Environment 39 Chapter 6: Banking, Investment and Insurance Services 44 Chapter 7: Exporting to Malta 51 Chapter 8: Business Entities 54 Chapter 9: Labour Relations and Social Security 66 Chapter 10: Accountancy and Audit Requirements and Practices 74 Chapter 11: Tax System 84 Chapter 12: Tax Administration 94 Chapter 13: Taxation of Companies and Individuals 103 Chapter 14: Partnerships and other entities 113 Chapter 15: Taxation of Individuals 121 Chapter 16: Indirect Taxation 128 Chapter 17: Tax Treaties 136 2 PwC Appendix I - Qualifying companies for Investment Tax Credits 140 Appendix II - Capital Allowances 144 Appendix III - Corporate Tax Calculation 145 Appendix IV - Individual Tax Rates 146 Appendix V - Individual Tax Calculation 148 Appendix VI - Duty Documents and Transfer Act 149 Appendix VII - Tax treaties in force as at August 2011 150 2013 Doing Business in Malta 3 Foreword The Guide has been prepared for the assistance of those interested in doing business in Malta. It does not cover exhaustively the subjects it treats but is intended to answer in a broad manner some of the key questions that may arise. Before taking specific decision or in dealing with specific problems it will often be necessary to refer to the relevant laws, regulations and decisions and to obtain appropriate advice. -
The Ottoman Policy Towards Non-Muslim Communities and Their Status in the Ottoman Empire During the 15Th & 16Th Centuries: Interaction of Civilizations Mughul, M
2137 THE OTTOMAN POLICY TOWARDS NON-MUSLIM COMMUNITIES AND THEIR STATUS IN THE OTTOMAN EMPIRE DURING THE 15TH & 16TH CENTURIES: INTERACTION OF CIVILIZATIONS MUGHUL, M. Yakub* PAKİSTAN/PAKISTAN/ПАКИСТАН ABSTRACT This paper focuses on Ottomans liberal policy and tolerance towards the non- Muslims and other religious communities during 15th, 16th century. In particular, it explores the key role of Sultan Mohammad-II in consolidating and harmonizing different cultures and religions across Europe and Asia. The paper also addresses the Islamic attitude towards inter-religious relations, which was at that time quite unknown in rest of Europe, where they were burning its heretics at the stake, whereas races and religions coexisted under the Ottoman rule. It will highlight how the advent of Ottoman Rule in Eastern Europe brought the Muslim and European Civilizations face to face, which ultimately created an interaction among them. Finally, it will describe the image of the millet system introduced during this period, which brought all non-Muslim communities within the Turkish commonwealth, and allowed them to govern itself by its own laws and live in peace in the Ottoman Empire. Key Words: Ottoman, policy, Empire, Constantinople, Turkish, history. INTRODUCTION The Ottoman Empire1 would be defined as a mosaic of different cultures and religions, which provided peace and harmony among members of society without distinction between Muslim and non-Muslim, race, and color. The story of Ottoman history involves not only the Ottoman dynasty but the many peoples who ruled the Empire and were ruled by it: Turks, Arabs, Serbs, Greeks, Armenians, Jews, Bulgarians, Hungarians, Albanians, North Africans and others. -
Doing Business in Bulgaria
Doing business in Bulgaria Learn how EY can help you navigate through Bulgaria 2019 01 Introduction 02 Bulgaria at a glance 03 Country profile: general information, geography, demographics 04 Business landscape: economy, financial system, key sectors, reasons to invest, foreign trade 10 Business incentives 12 Tax incentives 12 Non-tax incentives 13 EU funding opportunities 14 Tax guide 16 Personal taxation 17 Income tax 19 Immigration 21 Property taxes 22 Corporate income tax 25 Indirect taxes 30 Legal guide 32 Establishing business presence 32 Business entities 33 Acquisition of property 33 Regulatory compliance 33 Banking 34 Intellectual and industry property 34 E-business 34 Competition & Consumer protection 34 Data privacy 35 Labor 36 Accounting and financial reporting. Audit. 48 EY Bulgaria Dear reader, hank you for taking the time to get acquainted with this guide containing a comprehensive tax and legal analysis of the business environment in T Bulgaria. We have tried to touch upon the various questions that you as an investor might have when trying to find the best destination for your next business endeavour. Of course, you need to be aware that the economic, tax and legal landscapes change with time and there are a number of details within your specific industry sector and company business model that need to be observed. In the last 27 years, Bulgaria has made considerable progress in terms of economic and political reforms. Today, in 2019, the country enjoys stable economy, political landscape and financial system. According to the World Bank, the Bulgarian economy will grow by 3.1% in 2019 in line with the forecasted 2.9% GDP growth of the global economy. -
Taxation As a Determinant of Economic Growth in South-Eastern Europe: the Case of Bulgaria and Croatia
European Research Studies, pp. 68-81 Volume XVI, Issue (2), 2013 Taxation as a Determinant of Economic Growth in South-Eastern Europe: The Case of Bulgaria and Croatia Ioanna Glykou 1, Vasileios Siokorelis 2 Abstract: Taxation through its impact on entrepreneurial activity, the attraction of Foreign Direct Investments, as well as disposable income and savings can be a crucial factor for economic growth. In this context, the paper examines the role of taxation as a determinant of macroeconomic stabilization in the geopolitical area of South-Eastern Europe, thus the area of Europe, which was affected in a great extent by the global financial crisis with a time lag (3rd Quarter 2008). The analysis will be based on the presentation of the current institutional tax framework prevailing in South-Eastern European Countries and focusing on the countries of the last and upcoming European Enlargement (Bulgaria, Croatia). The conceptual analysis will be accompanied by an econometric model that will test empirically the statistical significance of tax revenues on GDP of these countries. Key Words: Taxation, economic growth, European enlargement, South-Eastern Europe JEL Classification: E2, F1, H2 1 Ministry of Finance, e-mail: [email protected] , 2 Ministry of Finance,e-mail: [email protected] Taxation as a Determinant of Economic Growth in South- Eastern Europe The Case of Bulgaria and Croatia 69 1. Introduction Before jumping into the morass of empirical evidence, it would be useful firstly to ask the question. How does tax policy affect economic growth? By discouraging entrepreneurial activity? By distorting investment decisions (because taxes make some forms of investment more profitable than others)? By discouraging incentives to work and acquire skills and training? According to the theory of endogenous growth, the efficient use of taxation depends firstly on the extent to which taxation affects the behavior of individuals and motives for accumulation on physical and human capital and secondly on public expenditure that are financed by tax revenues (Dimeli, 2002). -
Doing Business in Malta 2016
Doing business in Malta 2016 In association with: Contents Introduction ................................................................................................................................................................................ 3 – Country profile ................................................................................................................................................................... 4 Legal overview ........................................................................................................................................................................... 5 Conducting business in Malta ................................................................................................................................................... 9 Tax system ................................................................................................................................................................................11 Labour ...................................................................................................................................................................................... 18 Audit ......................................................................................................................................................................................... 21 Trade ........................................................................................................................................................................................ -
Christians and Jews in the Ottoman Empire: the Abridged Edition
EXCERPTED FROM Christians and Jews in the Ottoman Empire: The Abridged Edition edited by Benjamin Braude Copyright © 2014 ISBNs: 978-1-58826-889-1 hc 978-1-58826-865-5 pb 1800 30th Street, Suite 314 Boulder, CO 80301 USA telephone 303.444.6684 fax 303.444.0824 This excerpt was downloaded from the Lynne Rienner Publishers website www.rienner.com Contents Preface vii List of Abbreviations ix Note on Transliteration x 1 Introduction 1 Benjamin Braude 2 Transformation of Zimmi into Askerî 51 İ. Metin Kunt 3 Foundation Myths of the Millet System 65 Benjamin Braude 4 The Rise of the Armenian Patriarchate of Constantinople 87 Kevork B. Bardakjian 5 Ottoman Policy Toward the Jews and Jewish Attitudes Toward the Ottomans During the Fifteenth Century 99 Joseph R. Hacker 6 The Greek Millet in the Ottoman Empire 109 Richard Clogg 7 The Dual Role of the Armenian Amira Class Within the Ottoman Government and the Armenian Millet 133 Hagop Barsoumian 8 Foreign Merchants and the Minorities in Istanbul During the Sixteenth and Seventeenth Centuries 147 Robert Mantran 9 The Transformation of the Economic Position of the Millets in the Nineteenth Century 159 Charles Issawi v vi Contents 10 The Millets as Agents of Change in the Nineteenth-Century Ottoman Empire 187 Roderic H. Davison 11 The Acid Test of Ottomanism: The Acceptance of Non-Muslims in the Late Ottoman Bureaucracy 209 Carter V. Findley 12 Communal Conflict in Ottoman Syria During the Reform Era: The Role of Political and Economic Factors 241 Moshe Ma‘oz 13 Communal Conflict in Nineteenth-Century Lebanon 257 Samir Khalaf 14 Unionist Relations with the Greek, Armenian, and Jewish Communities of the Ottoman Empire, 1908 –1914 287 Feroz Ahmad 15 The Political Situation of the Copts, 1798 –1923 325 Doris Behrens-Abouseif Selected Bibliography 347 About the Contributors 355 Index 357 About the Book 374 1 Introduction Benjamin Braude Thirty years ago the first edition of this book appeared. -
Technical Explanation of Convention… US and Bulgaria…
DEPARTMENT OF THE TREASURY TECHNICAL EXPLANATION OF \THE CONVENTION BETWEEN THE UNITED STATES OF AMERICA AND THE REPUBLIC OF BULGARIA FOR THE AVOIDANCE OF DOUBLE TAXATION AND THE PREVENTION OF FISCAL EVASION WITH RESPECT TO TAXES ON INCOME, SIGNED AT WASHINGTON ON FEBRUARY 23, 2007 This is a technical explanation of the Convention between the United States and Bulgaria for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with Respect to Taxes on Income, signed on February 23, 2007, and the Protocol between the United States and Bulgaria signed on the same date (the “Protocol”), as amended by the Protocol between the United States and Bulgaria signed on February 26, 2008 (collectively, the “Convention”). The Protocol is discussed below in connection with the relevant articles of the Convention. Negotiations took into account the U.S. Treasury Department’s current tax treaty policy, and the Treasury Department’s Model Income Tax Convention, updated as of November 15, 2006. Negotiations also took into account the Model Tax Convention on Income and on Capital, published by the Organisation for Economic Cooperation and Development (the “OECD Model”), and recent tax treaties concluded by both countries. The Technical Explanation is an official guide to the Convention. It reflects the policies behind particular Convention provisions, as well as understandings reached during the negotiations with respect to the application and interpretation of the Convention. References in the Technical Explanation to “he” or “his” should be read to mean “he or she” or “his and her.” ARTICLE 1 (GENERAL SCOPE) Paragraph 1 Paragraph 1 of Article 1 provides that the Convention applies only to residents of the United States or Bulgaria except where the terms of the Convention provide otherwise. -
EUROPEAN TAX PARADISE Guide to Taxation in Bulgaria
SR MANAGEMENT AND CONSULTING BULGARIA - EUROPEAN TAX PARADISE Guide to Taxation in Bulgaria TABLE OF CONTENTS 1. INTRODUCTION .......................................................................................................................................................... 3 2. TAXATION OF INDIVIDUALS ....................................................................................................................................... 4 2.1 Residence...................................................................................................................................................................... 4 2.2 Personal Income Tax for Resident Individuals .............................................................................................................. 4 2.3 Social Security Contributions for Resident Individuals ................................................................................................. 5 2.4. Taxation of Non-Resident Individuals .................................................................................................................................. 6 3. TAXATION OF COMPANIES ......................................................................................................................................... 7 3.1 Corporate Income Tax .................................................................................................................................................. 7 3.2 Withholding Tax........................................................................................................................................................... -
COMPLETING YOUR TAX RETURN a Step-By-Step Guide
COMPLETING YOUR TAX RETURN A Step-by-Step Guide Basis YYeearar 2020 Ye ar of Assessment 2021 1 2 This information booklet has been produced by the Office of the Commissioner for Revenue to help you fill in your tax return for the basis year 2020 in a complete and correct manner. Please note that the booklet is a guide only and has no legal force whatsoever. For further information: • Visit our website: www.cfr.gov.mt • Call: Freephone 153 • Email: [email protected] The Office of the Commissioner for Revenue uses the information provided to process your Income Tax Return and Self-Assessment in accordance with the Income Tax Acts and subsidiary legislation. We may check information provided by you, or information about you provided by a third party, with other information held by us. We will not disclose information about you to anyone outside the Office of the Commissioner for Revenue unless permitted by law. The Office of the Commissioner for Revenue treats your personal information in accordance with the Regulation (EU) 2016/679 (General Data Protection Regulation) and the Data Protection Act (Cap 586) to protect your privacy. Any queries may be addressed to The Data Controller, Office of the Commissioner for Revenue, Floriana, FRN 1700. 3 CONTENTS GENERAL INFORMATION 6 YOUR TAX RETURN: THE SELF-ASSESSMENT SYSTEM 6 MARRIED COUPLES 8 SEPARATED / DIVORCED COUPLES 9 PARENTS 9 SINGLE PARENTS 9 PERSONAL DETAILS 10 OTHER INFORMATION 11 EMOLUMENT AND BUSINESS INCOME 13 1. Employment or Office 13 2. Trade, Business, Profession or Vocation 14 3. Pensions and Social Security Benefits 16 4.