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News & Knowledge

All Knowledge & Opinions

Colombia: Offshore exploration, a pending assignment

5th February 2019

Colombia still lags in offshore exploratory activities, a situation negatively affecting development of the country. Hydrocarbon exploration and recovery are key conditions for local markets to grow stronger while maintaining their competitiveness in the eyes of foreign investors. Onshore exploration, that is, over land territories of countries, should be supplemented by efforts to make offshore exploration acquire enough momentum and become a real and efficient part of the economies. Unfortunately, Colombia is significantly behind in this endeavor. MSI's Colombian law member Sanclemente Fernandez Abogados SA provides further insight.

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China: Tax benefits to overseas investors reinvesting distributed profits expanded

5th February 2019

For the purposes of further encouraging overseas investors to invest in China, the Ministry of Finance, the State Administration of Taxation, the National Development and Reform Commission and the Ministry of Commerce recently issued the Circular about Expanding the Scope of Application of temporary waiver for Withholding Income Tax on Direct Investments with Distributed Profits by Overseas Investors (Cai Shui [2018] No. 102). Compared with the previous policy of Cai Shui [2017] No. 88, the scope of application of withholding income tax for foreign investors has been expanded with other provisions remain the same. MSI's Chinese accounting member Lehman Brown Ltd. provides further information.

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New tax scheme in Norway – PAYE

5th February 2019

From 2019, a new and simplified tax scheme is available for foreign workers in Norway. The scheme is called PAYE (Pay As You Earn). Most foreign workers will fall under this scheme the first year they work in Norway. MSI's Norwegian law member Magnus Legal provides further information about the new PAYE scheme.

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UK: The Autumn Budget 2018 - the headlines

30th October 2018

On 29 October 2018, the UK Chancellor delivered his last Budget before Brexit. Head of Tax, Katharine Arthur, from MSI's London accounting member firm haysmacintyre has summarised the key tax measures.

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