Accounting and Audit

Austrian taxation of private foundations in connection with profit allocations to foreign beneficiaries contrary to EU law (C-589/13)

On 17 September 2015, the Court of Justice of the European Union (‘CJEU’) rendered its decision in the case F.E. Familienprivatstiftung Eisenstadt (C-589/13) concerning the Austrian system of interim taxation of national private foundations in the case of profit allocations made to non-resident beneficiaries. The CJEU held that the unfavorable treatment of private foundations which… Read More

Jordan Income Tax Law Reform

Jordan’s new Income tax law number (34) of the year 2014 (published in the official gazette) is put in force as of January 1, 2015. Major changes included in the new tax law related to capital market gains are the following: The new tax law included some changes regarding the withholding tax related to income from… Read More

New Image: The Changing Role of ABL

As the number of acquisitions and management buy-outs appears to be on the rise in the UK, Evette Orams, Managing Director of Hilton-Baird Financial Solutions, explores the reasons behind an interesting shift in the financial composition of those deals. News that the UK boasted the fastest growing economy of all the G7 countries in both… Read More

The Hungarian Trust Law – An Anglo-Saxon Legal Institution in Civil Law Environment

The new Hungarian Civil Code (Act No. V of 2013) came into effect on 15th of March 2014. The Civil Code regulates the fiduciary asset management contract, a very similar legal institution to the Anglo-Saxon trust. The concept of the Hungarian trust was drawn up on the basis of the model of the trust in… Read More

Innovative Solutions To Circumvent Burdensome SPLA Requirements

Many online service providers are well aware that Microsoft’s Services Provider License Agreement (SPLA) entails a licensing framework that can be difficult to manage. SPLA may be a great model for businesses seeking to “float” their license expenditures from month to month based on usage. However, what Microsoft considers “usage” and what most companies and… Read More

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