Background  Under Peruvian Income Tax provisions, non-residents are levied on Peruvian-source income identified based on an all-exhaustive list. Capital gains arising from an indirect disposal of shares issued by a company incorporated in Peru qualify as Peruvian-source income. According to...

Under the Dutch CIT rules, profits and capital gains related to participations are exempt for tax purposes. This also limits the deductibility of costs that directly relate to the acquisition or sale of such a participation. The exact determination of...

Adopting the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (MLI) has been an important development in the international tax landscape, having far-reaching effects on the double tax agreements entered into between countries....

A landmark decision on beneficial ownership could significantly impact the French tax authorities’ approach to tax audits concerning royalties. In its decision on French company Sté Planet dated 20 May 2022, the French Administrative Supreme Court (Conseil d’État) ruled for...

During 2020, the mergers and acquisitions (M&A) market underwent some challenges due to the COVID-19 contingency and plenty of transactions were put off.  Nonetheless, during 2021 and 2022, the M&A market recovered, as evidenced by the number of Mexican entities...

In a decision “Air Liquide” dated 15 November 2021, the French Administrative Supreme Court (Conseil d’Etat) ruled for the first time that French resident companies realising capital gains upon the alienation of eligible participation (titres de participation – generally presumed...

ATAD II is the EU translation of BEPS Action 2, the part which is focused on the ability of taxpayers to design situations of double non-taxation or heavily reduced taxation by exploiting hybrid mismatches. They apply to mismatches between the...

Background – the current market The disruptive effect of the Covid-19 pandemic and the economic recovery currently underway in many jurisdictions has driven strong momentum in the M&A market in recent months. Among the factors that drive this demand may...

Many countries have their own versions of tax-free or tax-neutral reorganisations. We are seeing instances where such domestic legislation now is subject to amendment with some added or bonus enhancements to these laws.  What follows below are some recent changes...

Relocation is a factor that can drive M&A transactions and many jurisdictions use various strategies to attract or retain businesses, whether that be on tax, regulation, creation of critical business mass, or other reasons. There may be many non-tax reasons for enterprises to relocate, but there will always be tax consequences to consider. In this article, we outline the possible tax traps and opportunities for this type of activity.   Main tax traps  The main...

While the first reporting deadlines for most EU members expired on 31 January 2021 and respectively 28 February 2021, there are still questions outstanding about whether intermediaries are obliged to report arrangements to tax authorities, or if they can use...

In this article, we will focus on the impact of Covid-19 tax regulations in relation to M&A transactions. In particular, we will address the impact of several incentives that need to be addressed when transferring a company. Covid-19 Regulations  Many countries have introduced Covid-19 related tax and other...

EU Directive 2018/822 or DAC 6 (acronym of “Directive on Administrative cooperation”) is in the minds of many European tax practitioners. In this article we will set out its importance for the European M&A market. Beyond this mysterious acronym, the European Union is...