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All You Need To Know About The Issue Of Double Taxation Consultation Within The EU

double taxation in european union and usa

International Double Taxation

The issue of double taxation is one facing the majority of companies operating in both the public and private sectors in the European Union. 

Due to the fact that each of the EU member states has the right to develop their own tax systems, it is no wonder that the possibility of double taxation is present with 28 different tax regimes being applied.  This means that a company operating in several member states would be taxed on the same income within these various states; therefore, it is easy to see the complexity of the matter. It is important to work with an international law firm to determine how to properly manage double taxation across the globe.

To date, there have been several strategies put in place to address the issue of double taxation; however, they have not proven useful or effective in all situations.  The result of these strategies was, in fact, a significant increase in administrative costs for each company and a burden on overall financial spending.  To resolve this challenge facing cross-country economic relations, the European Commission launched a public consultation regarding how double taxation mechanisms can be improved.

The consultation was completed in the early months of 2016, closing on May 10th, and aimed to gather opinions from member states on particular economic issues.

The issues included the relevance of removing double taxation for multinational enterprises; the effectiveness of the double taxation dispute resolution strategies; as well as how these strategies can be improved to resolve double taxation situations.

It must be noted that the consultation was also utilized to address the debate of cross-border tax avoidance schemes where multinational establishments attempt to evade tax by moving from one member state to another.

This was a particularly important area to approach as it identified the implementation of the recently accepted Action Plan for a Fair and Efficient Corporate Tax System paper; as well as the tax avoidance system as introduced in January 2016.

Of course, while the debate regarding tax avoidance among multinationals was at the forefront of many member state representatives’ minds; the primary issue at hand was consultation regarding double taxation and the complexity of the tax planning systems.

The final result of the consultation uncovered the negative impacts of cross-border investments and financial operations; thereby proposing an initiative for improving double taxation dispute resolution mechanisms including inception impact assessments.  The publication of this initiative was released to the general public in June of 2016.

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Looking At The Ins & Outs Of Probate Law

probate law

Legal Aspects of Probate

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In many areas there seems to be some confusion surrounding probate law and what exactly it covers. Probate law, first of all, has nothing to do with probation. That is an entirely different area of practice. A Probate lawyer specializes in drawing up wills, living wills, and helping with the work around inheritance issues.

The laws actually vary quite a bit from state to state, but overall there are federal laws (and many states that have opportunistic “vulture” laws) that allow them to seize a large portion of many estates, or force the selling of it and taking a lion’s share of the profit through taxes and fees, if you don’t have a clear legal will letting people know how you expect your estate to be divided.

A probate attorney is critical to making sure that your wishes are followed whenever dealing with anything that has to do with splitting up an estate or creating an inheritance. No one should ever assume their wishes will be followed without one, even if they write down their wishes or are abundantly clear about what they want to be done, unless it is drawn up in a legal document that meets all state and federal requirements then there’s a good chance things won’t go smoothly.

This is even if everyone agrees on following the last wishes. If there are differing parties who dispute the will and fight or argue over who gets what, then there absolutely must be a legal document to avoid as much frustration as possible otherwise there is a good chance that serious legal repercussions will follow. That’s not how most people want to leave their family and the ones that they care about, so make sure to take care of these details before hand.

I understand that this can be a difficult time for many individuals and families. It with my deepest sympathies that I hope that this helps your family find a workable way to dealing with the loss of a loved one.


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Personal Injury Law Matters

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Do You Need a Personal Injury Law Attorney Due to the Negligence of Someone Else?

Have you experienced an injury because another person was not doing what they were supposed to be, either at the time or beforehand? Perhaps you are helping an injured loved one or even experienced the loss of a beloved family member through the negligence of another. If you can relate to these words, you need to find a personal injury law firm now.

One of the reasons that you should not hesitate when it comes to finding an attorney to represent you is that there is a statute of limitations for filing lawsuits. Depending on the specific legal guidelines where you live, the type of injury you have experienced and the amount of time that has already passed since you discovered it, the clock could be ticking quickly.

Do you need a lawyer?

For those who have just suffered an injury or loss and are still debating about whether or not obtaining legal counsel is necessary, you should not hesitate either. You see, insurance companies are often quick to settle with people who have just experienced an injury. If they are able to get the victim to sign a settlement agreement, the matter goes away.

While you might think that you just want it to be over with and that signing will get you on your way, that is a bad idea. The insurance agency will only offer you a fraction of what you are due. Not only that, if you don’t have representation, they will likely avoid any further responsibility in the language of the agreement.

When you are reeling from the pain and suffering right after an injury, you are vulnerable. Obtaining legal representation is the best way to protect yourself from the insurance agents and the bill collectors that will undoubtedly come calling.

However, a personal injury law attorney can contact the medical providers who are caring for you and stop the incessant bills. Instead, you will continue to receive care while the responsible insurance company is held accountable for their financial obligations.

Whether you have just been injured or it has been a while, you can find a great attorney in your community to represent your needs. Depending on the size of your city and the legal providers there, you should have several options.

For those in larger cities, finding a lawyer might be more complex than those living in suburban and rural areas of the country. However, you will want to make sure that the firm you hire is reputable. You can search online to find out more about the business.

Necessary Due Diligence:

Research the firm to find out how long it has been there, the education and background of each partner and any other relevant data. You should also run a search for reviews of the firm and the individual lawyers who are practicing there.

While you don’t need to read every review, you should scan through some of the most recent ones to get an idea of how satisfied their clientele have been. What complaints are mentioned and are they valid?

You will need to weigh the reviews based on the information provided. Unfortunately, people sometimes leave poor reviews even though the party being reviewed was not at fault in any way. In the instance of a personal injury attorney, you might find that some folks have left one-star ratings because they are upset about the injury itself.

Bearing in mind the valuable feedback online, you can make an informed decision about who to contact for a consultation appointment. You deserve to have a legal representative on your side during this challenging time in your life.

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The Legal Aspects Of Business Structuring And Entity Formation.

business formation law

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When starting a new business, it is absolutely important to keep in mind that the l formation of the business will be vital. Whatever business structure you decide to form will have its advantages or disadvantages. There are several types of business entities.

These are partnerships, LLCs or Limited Liability Corporations, sole proprietorship, co-operatives, non-profits and corporations. The business structure will have to choose either of these structures and follow the rules in regards to taxation, buyouts and any other agreements. These have to be followed strictly to avoid legal problems in the business.

Choosing a business structure can be a difficult task, which is why it would be best to hire a lawyer to help you go over the terms and ensure you understand the laws that affect you business entity. One of the major issues is choosing a proper taxation module to ensure that you will get maximum profits and have a good profit margin.

There are certain things to consider when you decide to put up a business. First is complexity of the structure. A sole proprietorship is obviously the simplest one, while corporations have some complex rules. If you decide to go for the simple structure, choose a sole proprietorship or partnership.

Liability is also another aspect to consider. When the business incurs losses, this determines who will be held liable. This is very important as it decides how liable everyone in the business is. In the case of corporations and non-profits, liabilities are usually less. If you want to be less liable for losses, then a corporation is best.

With a LLC, the liabilities are also limited. You could also decide to choose this structure due to this fact. However, keep in mind that there are other aspects that prove to be a disadvantage with LLCs.

One of these is taxation. Taxation is the same with LLCs and sole proprietorships. The tax is calculated from the general income. It is crucial to ensure that you file your tax papers properly to avoid getting taxed twice at the end of the business year. You can have your lawyer help you out with that. Corporations and non-profits have different rules for taxation. They are taxed as a single unit.

Additionally, another point to consider is licenses and permits. It is mandatory for each business to have a license to operate. This license with either be issued as a state license or federal license depending on the type of business. Operating any business without a proper and up to date license and permit can result to some legal consequences.

There is also the capital investment issue. Since a sole proprietorship may be small, you will only need capital from friends family or banks. For corporations, the business owners will have to look for the proper investors to create the required amount of capital.

Non-profits also have to look for capital from investors. LLCs on the other hand can get capital from banks and the business partners.

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