Succeeding in the highly competitive IT Industry is very hard without a full control of business operations and cost reduction at the beginning of the development stage of the company. What if there is a solution? The new IT Parks in Moldova have changed the “rules of the game” offering 2 key benefits for the investors in the IT Industry.

Download the IT Park Tax Incentives Guide.

The Tax department of Bufete Escura would like to remind the tax obligation in Spain to report assets and rights located outside of Spain (Form 720).

The scope of the obligation applies to those who are considered Spanish tax residents.

The reporting obligation should be carried out through Form 720, with the filing deadline being March 31st, with no possible extension.

Read more: Form 720 - Obligation to Report Assets and Rights Located Outside of Spain

Greg Jones considers the fate which may await the UK’s super rich following this week’s UK General Election…

Well, wouldn’t most of us like at least to try, if we’re honest?

Yet although the number of billionaires around the world is on the increase, (as inflation gradually erodes the value of money over time) there is a risk they may become an endangered species.

Labour MP Lloyd Russell-Moyle thinks they shouldn’t exist.

Read more: Who wants to be a Billionaire?!

As investor interest in qualified opportunity zones (“QOZ”) grows, both qualified opportunity funds (“QOFs”) and investors should be aware of the benefits of organizing QOFs as C-Corporations. C-Corporation QOFs may take advantage of the reduced corporate income tax rate of 21 percent and the benefits under Section 1202 of the Internal Revenue Code (the “Code”).

Read more: Qualified Opportunity Zones–Benefits of Using C-Corporation Structure

Multinational enterprises (“MNEs”) with premises/operations in Uruguay and with a worldwide gross income in excess of EUR 750 million per year, must submit to Uruguay's Tax Office a Country-by-Country report (“the CbC report”) to be prepared along the OECD guidelines. Such report must contain detailed information on the branches and other MNE related entities around the world.

Read more: Country by Country Report for Enterprises in Uruguay with 31 December 2019 as Closing Date