As the global landscape for cryptocurrency continues to evolve, countries worldwide are defining their stances on digital assets. Indonesia, with its rapidly growing economy and technological advancements, has been no exception. The regulation of cryptocurrencies in country has become a focal point for both local and international investors. This article delves into the specifics of…
Commonly, legal opinion is what we consider as an experienced lawyer’s advice. It is presented in the form of a document prepared by a client’s requirement. The article will provide you with all interested details regarding the provision of legal consultation. Legal opinion: Why do we need it? Banks frequently demand LOs from risky businesses…
1. Sorts of Commercial Units, Their Homestead and General Charge issues This country offers diverse business units with distinct lawful divisions, including the SA requiring EUR 30,000 minimum capital and the SARL with EUR 12,000, managed by boards of directors. The SARL limits subsidiaries to one hundred and could not trade publicly, while the SCA…
1. Trade License Acquiring a pervasive trade licence is a pivotal step for most commercial functioning in Switzerland. This licence is mandatory that assures your commercial functioning bonds to indigenous market rules and protocols. Here’s what you should know: Submission routine: You can apply for a commercial licence to the local canton’s market branch. This…
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An active transportation company limited by shares (SA) in Switzerland is now available for sale. This company, was established in 2020 and operates in the passenger and cargo transportation sector with a focus on sea and rail transport. Key Features Transportation Company in Switzerland Corporate Structure Form: Company limited by shares (SA) Year of Registration:…
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In regard to tax issues companies are divide into local and foreign (resident and non-resident). A company would be qualified as local if it is registered in Peru.
Local entities pay taxes on income received both domestically and abroad. Foreign companies and their branches pay in the same but only on funds received domestically.
Income from foreign sources received by locals meets income tax. This taxation is based on the same principles as income from Peruvian sources, but with some amendments.
Permanent establishments’ taxes consist of corporate tax and money transfer tax. Subsidiaries are taxed as standard companies with the same rates.
All income received by the entity meets taxation. Among that income there are capital gains. Standard business expenses can be minused in calculating taxable income.
The income tax is the main corporate tax. The standard rate is 29.5%. However, other rates for various types of activities are established by law.
Usually, these are areas in which the state is trying to support medium and small businesses.
But there are other examples. For investors in the mining and hydrocarbon sectors, there are so-called stabilization taxes. As a result, they have to pay in total of 31.5%.
An exception to this group of activities is the scope of natural gas production.
A little about reporting on this tax. The tax year, without the right to extend it, is limited to a calendar year. Advance payment system based on income derived every month.
Accordingly, companies pay 12 monthly payments. Revenues are measured on their own. Their total volume is indicated in the annual tax reporting.
Reporting documentation may be submitted before April 1 of the year next to the reporting.
As usual, VAT is applied to the sale of goods and the provision of services. However, there are also less mundane spheres of its application, separately emphasized in the legislation.
Among these areas are construction contracts, first-time real estate sales, and import. Entities have the right to apply for an early VAT refund, prior to the implementation of existing agreements.
For various areas, there are other ways to get a VAT refund.
The usual rate is 18%. There is also a reduced rate of 0%.
Companies subject to VAT are obliged keeping VAT ledgers. In addition to accounting, companies have the obligation of submiting VAT reports every month.
The accounting department of the company must compile quarterly, annual financial reports and provide declarations to the tax service. Contact us for more information.
The international company Eternity Law International provides professional services in the field of international consulting, auditing services, legal and tax services.