Tax

Welcome to the home of tax on Law-Now.

On this page, you will find all the articles and publications on tax and business topics from all over the world, written by our tax and legal experts from across CMS.

CMS has almost 500 tax lawyers in 42 countries.

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Recent Articles

  •  
    07/02/2024
    United Kingdom

    CMS UK Tax Disputes Digest (Winter 2024)

    Welcome to the winter 2024 edition of our UK Tax Disputes Digest: a high-level summary of key developments in contentious tax over the last few months for heads of tax, finance directors, general counsel and other in-house professionals.As with previous editions, we have seen a continued increase in HMRC activity across various areas. Both individual and corporate taxpayers would be well-advised to check their tax position as soon as possible to prepare for any potential HMRC investigation into their tax affairs.In this edition, we look at just a few of these developments, including the latest...
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  •  
    06/02/2024
    China

    Chinese Tax Regulation Update - January 2024

    The latest development in China Tax Regulation mainly includes:Cai Guan Shui [2024] No. 1 jointly released by the Ministry of Finance (“MOF”), the General Administration of Customs (“GAC”) and the State Administration of Taxation (“SAT”)Cai Guan Shui [2024] No. 2 jointly released by the MOF, the GAC and the SATCai Shui [2024] No. 1Please click here to read the full article.
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  •  
    05/02/2024
    China

    2024 – Topics that may Concern You

    In China, companies constantly have to deal with changes in regulations and new laws. This will also continue in 2024.Topics such as update to the PRC Company Law, adapting Joint Ventures in accordance with the PRC Foreign Investment Law and the PRC Company Law, cross-border data transfer, employment management in the digital age, developments in China's competition law regime etc. will continue to be a concern for most companies in China in 2024. Complying with regulatory requirements is one of the key challenges for foreign companies and investors in China, not only in terms of general compliance,...
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    17/01/2024
    United Kingdom

    Vermilion: A Noble Cause or a Taxing Problem?

    Background In 2006, Vermilion Holdings Ltd (“Vermilion” or “the Company”) carried out a funding exercise as part of which Quest Advantage Limited (“Quest”) was appointed to produce a business plan and financial projections and Dickson Minto was appointed as legal advisor to assist with the fundraising.  Vermilion granted a “supplier option” to each of Quest and 22 Nominees Ltd (Dickson Minto’s nominee) to acquire ordinary shares in the Company in consideration for the services provided by Quest and Dickson Minto. The “supplier...
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  •  
    17/01/2024
    Luxembourg

    Directors' fees are no longer subject to VAT in Luxembourg

    On 21 December 2023, the Court of Justice of the European Union (“ CJEU ” or “ Court ”) issued a decision on the case C-288/22. The Court puts an end to a long debate by ruling that the members of the board of directors of a Luxembourg company do not carry out an independent VAT economic activity. The Court considered that they do not undertake their activity independently given that they do not act on their own behalf, their own responsibility and they do not bear the risks linked to their activity. Hence, directors’ fees should no longer be subject to VAT provided...
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  •  
    11/01/2024
    Germany

    W&I insurance and taxes in Germany

    In German M&A transactions with warranty and indemnity insurance (W&I insurance), special attention must be paid to tax issues due to reciprocal effects in the liability concept concerning the purchase agreement and the insurance policy.With company acquisitions, the sellers' liability for historic-tax risks in the form of tax indemnities and tax warranties plays a significant role and is subject to a special regulatory regime. In combination with W&I insurance, unique particularities exist in Germany, especially regarding taxes.Tax insurance has a wide range of applicationsTwo types...
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