The proper tax treatment of real property disposals is a common area of dispute between taxpayers and the Inland Revenue Board (Revenue). Taxpayers who have disposed of investment properties expect to be taxed under the Real Property Gains Tax Act 1976 (RPGTA). The Revenue, on its part, may disagree, taking the view that the taxpayer had been trading and ought to be taxed (at the higher rate) under the Income Tax Act 1967 (ITA).

Introduction

The legislature has time and again introduced various income-tax benefits and incentives to encourage fresh investments and stimulate the economic growth. These incentives are generally given to new businesses in form of tax holidays, concessional tax rates or additional deductions.

The Finance Bill, 2022 introduces amendments to provide clarity and reduce protracted litigation for entities undergoing business succession / reorganisation.

The Government has been making consistent efforts to simplify and rationalise the tax framework in India. Accordingly, the Finance Bill, 2022 (Bill) proposes several amendments to address practical nuances and anomalies arising in business successions/reorganisations.

Can the foreclosure of a property tax lien on real estate be avoided as a fraudulent transfer under § 584 of the Bankruptcy Code?

That’s the issue before the District Court, on a bankruptcy appeal, in Duvall v. County of Ontario, New York, Case No. 21-cv-06236 in U.S. District Court, WDNY (issued 11/9/2021).

Courts have gone both ways on the issue.

The Difficulty

La CNMV ha publicado un documento con “preguntas y respuestas” que pretende servir de ayuda en la interpretación por las sociedades cotizadas del régimen de operaciones vinculadas tras la reforma introducida por la Ley 5/2021 para la incorporación de la Directiva sobre derechos de los accionistas en las sociedades cotizadas. A continuación, se incluye un resumen de los criterios interpretativos ofrecidos por el organismo supervisor.

Referencias Jurídicas CMS

Artículos de fondo

We are happy to present the second issue of our e-magazine – Trilegal Quarterly Roundup.

Restructuring a Multinational Corporation to Optimize Profitability and Efficiency A Case Study By Owen D. Kurtin Kurtin PLLC, New York, NY 2022 Revised Edition T:212.554.3373|E: [email protected] | W:kurtinlaw.com 2 The TO Project A few years ago, I was asked to serve as lead outside legal counsel to a U.S.-basedpublic corporationinanindustrialbusiness sector withoperations in over thirty countries in the reorganization of its global corporate structure and operations.

A “federal [fraudulent transfer claim under Bankruptcy Code § 548] is independent of [a] state-court [foreclosure] judgment,” held the U.S. Court of Appeals for the Sixth Circuit on Dec. 27, 2021. In reLowry, 2021 WL 6112972, *1 (6th Cir. Dec. 27, 2021). Reversing the lower courts’ approval of a Michigan tax foreclosure sale, the Sixth Circuit reasoned that “the amount paid on foreclosure bore no relation at all to the value of the property, thus precluding the … argument that the sale was for ‘a reasonably equivalent value’ under the rule of BFP v.

The Full Federal Court has held that a bankrupt taxpayer had no standing to seek review of an objection decision as she was not a person “dissatisfied” within the meaning of s 14ZZ of the Taxation Administration Act 1953.

This week, the Ninth Circuit takes a close look at a sizable antitrust jury award, and explains what constitutes a tax “return” for purposes of bankruptcy law.

OPTRONIC TECHNOLOGIES, INC v. NINGBO SUNNY ELECTRONIC CO. LTD.

The Court held that sufficient evidence supported a jury verdict holding telescope manufacturers liable for antitrust violations.