This feed is published daily with selected new or updated
content from across the Lowtax Network. For a list of Lowtax Network
sites, many of which feature daily news, see
below.
Providing essential tax news and information
for globally mobile artists, contractors, entrepreneurs, professionals,
small businesses, sportspersons and entertainers.
Lowtax Portal:
'Low-tax' business and investment in the top 50 jurisdictions covered in
exceptional detail.
Tax News: Global
tax news, continuously updated through the day.
Investors Offshore:
The independent offshore and alternative investment guide for expatriates
and the globally aware investor.
Law & Tax
News: Daily news and background data on tax and legal developments
for international business.
Offshore-e-com:
A topical guide to offshore e-commerce focused on tax and regulation.
Lowtax Library:
One of the web's largest and most authoritative business and investment
information sources.
US Tax Network:
The resource for free online US taxation information, covering: corporate
tax, individual tax, international tax, expatriates, sales and e-commerce
tax, investment tax.
NEW! Personal
Business Tax Guide: Providing essential tax news and information
on business for contractors, entrepreneurs, professionals, small businesses,
artists, sportspersons and entertainers.
EU Sues Portugal For Biased Tax Policy,
by Ulrika Lomas, for LawAndTax-News.com, Brussels
Monday, September 22, 2008
The European Commission has referred Portugal to the European Court of Justice (ECJ) for its discriminatory tax rules against non-Portuguese service providers.
The Commission has pointed out that currently, non-resident entities providing
services in Portugal are subject to a withholding tax based on the gross amount
of their income, whereas domestic providers are taxed only on their net profits.
The Commission considers that these rules are incompatible with the EC Treaty,
which guarantees the free provision of services.
According to Portuguese rules non-resident services providers are subject to
a final Portuguese withholding tax on the gross amount of their income, whereas
domestic providers would be taxed only on their net profits, i.e. after deduction
of related costs.
In the view of the Commission this legislation is likely to dissuade foreign
services providers from providing services in Portugal, and might dissuade Portuguese
clients from buying services from foreign providers, and therefore constitutes
an infringement of Article 49 of the EC Treaty (freedom to provide services).
Portugal notes that taxation on the basis of gross income does not apply to
service providers resident in member states with whom Portugal has signed a
Double Tax Convention (all member states except Cyprus).
In addition, Portugal remarks that in the case of taxation on the gross income
the difference in the tax base might be offset by the difference between the
rate applicable to resident entities 25% and the final withholding tax rate
of 15% applied to non-resident entities. The Portuguese Government also claims
that the measures are necessary to combat tax fraud.
However, the Commission considers that there is discrimination to foreign services
providers established in Cyprus which has not signed a Double Tax Convention
with Portugal. The Commission is of the view that discrimination exists when
it cannot be ensured that differences in the level of taxation due to the differences
in the tax bases are always offset by the differences in the tax rates.
It also regards the chosen measures as disproportionate since there are other
methods of preventing fraud, for example by requiring the service provider to
give information or by mutual assistance and information exchange with other
EU Member States under EU Directive 77/799/EEC and by mutual assistance in the
recovery of claims under EU Directive 2001/44/EC.
One of the web's largest and
most authoritative business and investment information sources. Alongside
topical, daily news on worldwide
tax developments, you can receive weekly newswires or
access up-to-date intelligence
reports on a range of legal, tax and investment subjects.
Our 16 constantly updated
intelligence reports cover every important aspect of 'offshore' and international
tax-planning in depth, including banking secrecy, the EU's savings tax
directive, offshore funds, e-commerce, offshore gaming and transfer pricing.
Reports are available for immediate downloading or as subscription
services with news pages.
Advertising & Marketing
With over 50,000 qualified readers every month our web-sites
offer a number of cost effective, targeted advertising,
sponsorship and marketing opportunities:
Display advertising - from 'skyscrapers' to 'buttons'
Content/article submission and sponsorship
Opt-in email marketing
On-line Services Directory listings
Could your corporate web-site or newsletter benefit
from incorporating regularly updated news and content
tailored to serve your clients' interests? We can provide
a variety of maintenance-free news and content solutions
that can be seamlessly integrated and dynamically delivered:
Click here for a brief introduction
to RSS and instructions on how to get the Tax-News feed.
IMPORTANT NOTICE: THE LOWTAX NETWORK has
taken reasonable care in sourcing and presenting the information contained on
this site, but accepts no responsibility for any financial or other loss or damage
that may result from its use. In particular, users of the site are advised to
take appropriate professional advice before committing themselves to involvement
in offshore jurisdictions, offshore trusts or offshore investments. All materials
on this site copyright THE LOWTAX NETWORK 1999 to 2010. Contact
us for further information.
TAX-NEWS.COM
Free Tax-News Feed