1. Introduction The Spanish impatriate special tax regime, also known as the Beckham Law, is Spain’s best tax incentive for expats. It has played a pivotal role in attracting thousands of dynamic people into the country since its introduction in 2004, which in turn has helped to improve and internationalise its economy. A natural person […]
Why self-employed persons cannot benefit from the Beckham Law Read More »
1. Introduction On 28 November 2024, the Madrid regional Parliament enacted Law No. 4/2024, which creates a new significant tax incentive for those natural persons who relocate from outside of Spain to Madrid. Since this tax incentive was first announced when Real Madrid Football Club hired the renowned player Kylian Mbappé, people commonly refer to
Spain introduces a great tax incentive for expats under the Mbappé Law Read More »
I. Summary It is a common misconception to assume that when an individual relocates to a new country, obtaining a tax residency certificate issued by the new country of tax residence automatically grants tax non-resident status in any other country, including in the previous country of tax residence. This is far from true. In this
Why obtaining a tax residency certificate is not sufficient to secure your tax residency Read More »
I. Introduction The United Arab Emirates (“UAE”) has traditionally ranked among the top countries where high net worth and ultra-high net worth individuals relocate. However, since the 2020 pandemic and the rise of remote work, there has also been an influx of entrepreneurs, freelancers and other business minded people. It is common for prosperous individuals
Why the UAE is an excellent country to set up a personal holding company Read More »
I. Introduction The world is becoming more globalised than ever. There has never been such level of international trade and investment. With international transactions in full upswing, cross-border tax procedures and cooperation between tax authorities are on the rise. In this article we list five key points that companies should consider if they are subject
Five key points when being subject to a cross-border tax procedure Read More »
Introduction The tax amnesty in Saudi Arabia is set to expire on 30 June 2024. The tax amnesty is a remarkable initiative from the Saudi Government, under which taxpayers can regularise their taxes with the Zakat, Tax and Customs Authority (“ZATCA”) and benefit from the cancellation of the associated tax penalties. With only 40 days
Only 40 days left of tax amnesty in Saudi Arabia Read More »
Introduction NAX Law secured and important tax ruling from the Spanish General Directorate of Taxation (“GDT”), regarding the interaction between the Spanish tax on large fortunes (“TLF”) and the impatriates regime, also known as Beckham Law. In this article we uncover the details. The impatriates regime Spain introduced the impatriates regime in 2003, at the
Spanish tax on large fortunes and impatriates under the Beckham Law Read More »
Introduction If you are working for a multinational enterprise, it is likely that you have been involved in an intragroup restructuring that includes countries. A common question that arises in these international intragroup restructurings is whether any transfer – of shares or assets – made between entities of the same group should result in any
Summary In late 2023, Saudi Arabia’s Zakat, Tax and Customs Authority (“ZATCA”) opened a public consultation to replace the existing Income Tax Law (“ITL”) by a new one. The proposal, which is currently under study, aims to update the ITL, to align it with the most relevant international tax practices and to promote business through
A closer look into Saudi Arabia’s proposal for a new Income Tax Law Read More »
Introduction On 27 February 2024, the UAE’s Federal Tax Authority (“FTA”) published its Decision No. 3 of 2024, dated 22 February, regarding the timeline specified for registration of taxable persons for corporate tax for the purposes of Federal Decree-Law No. 47 of 2022 on the taxation of corporations and businesses (the “CT Registration Decision”). The
Registration deadlines for UAE corporate tax announced – are you ready? Read More »