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Background Information
The Honorable Minister of Finance, the Economy and Investment presented the 2010 Budget on 9 November 2009. Amongst others, the Minister announced a number of fiscal measures intended to encourage small enterprises to invest and create jobs, including initiatives that promote research and development, and environmental protection. A number of fiscal measures have been introduced to encourage foreign investment The Minister also declared the government’s intention to legislate more vigorously in order to curb tax evasion and abuse and referred to a strengthening of Government efforts to recover its money and to reduce tax evasion and fiscal abuse.
Course Outline
- The tax exemption on royalty and similar income resulting from patents on inventions
- The changes to the system of taxing transfers of immovable property on the basis of 12% of the transfer value, and the extension of the ‘corridor’ period from 5 to 7 years
- The extension of the participation exemption to holdings in resident companies
- The introduction of the value shifting provisions, de-grouping charge in respect of shares, and the new criteria for the purpose of determining whether two companies form a group
- Restriction on losses in respect of construction and other work carried out between related parties
- Transfer of Listed shares
- Various amendments to the Duty on Documents and Transfers Act
- Various amendments to the Income Tax Management Act
Objectives of this Seminar
The main objective of this seminar is to give an insight into the operational and potential legislative amendments targeted to combat tax evasion and fiscal abuse and an overview of the main fiscal incentives announced in the 2010 Budget.
Start Date:
16/02/2010
End Date:
16/02/2010
Venue:
BPP Training Centre, Lower Ground, Tower Business Centre, Tower Road, Swatar |