WIRC - Planning Investments through various jurisdictions - Cyprus presentation - 27.11.2010
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WIRC - Planning Investments through various jurisdictions - Cyprus presentation - 27.11.2010
- 1. Planning Inbound & Outbound Investments through various jurisdictions Presentation on “Cyprus” by: Mr. Paresh P. Shah P.P. Shah & Associates Chartered Accountants Email: paresh@bom3.vsnl.net.in 27 th November 2010 P. P. Shah & Associates WIRC’S Workshop
- 13. Cyprus – Analysis as Holding Company Jurisdiction 27 th November 2010 P. P. Shah & Associates
- 15. 27 th November 2010 P. P. Shah & Associates
- 16. 27 th November 2010 P. P. Shah & Associates
- 24. Model Structure 27 th November 2010 P. P. Shah & Associates CYPRUS HOLD CO. UAE INDIA CHINA UKRAINE FINLAND RUSSIA EUROPE1 EUROPE2 EUROPE3
- 25. Cyprus Holding Company Analysis Let us now analyze tax implications with respect to each jurisdictions vis-à-vis Cyprus 27 th November 2010 P. P. Shah & Associates
- 27. Cyprus-India 27 th November 2010 P. P. Shah & Associates b) Cyprus-India: Taxation in Cyprus (Domestic Law) Dividend Exempt Interest 10%* Royalties Exempt Capital Gains Exempt * on net amount (thin spread) Taxation in India (Treaty Provisions) Withholding taxes 10% 10/Nil if approved 15% Nil CYPRUS INDIA
- 28. Cyprus-UK 27 th November 2010 P. P. Shah & Associates Taxation in Cyprus (Domestic Law) Dividend Exempt Interest 10%* Royalties Exempt Capital Gains Exempt * on net amount (thin spread) Taxation in UK (Treaty Provision or EU Directives) Withholding taxes Nil Nil Nil Nil CYPRUS UK c) Cyprus-UK or EU Countries:
- 29. Cyprus-Ukraine 27 th November 2010 P. P. Shah & Associates d) Cyprus-Ukraine: Taxation in Cyprus (Domestic Law) Dividend Exempt Interest 10%* Royalties Exempt Capital Gains Exempt * on net amount (thin spread) Taxation in Ukraine (Treaty Provision) Withholding taxes Nil Nil Nil Nil CYPRUS UKRAINE
- 30. Cyprus-China 27 th November 2010 P. P. Shah & Associates e) Cyprus-China: Taxation in Cyprus (Domestic Law) Dividend Exempt Interest 10%* Royalties Exempt Capital Gains Exempt * on net amount (thin spread) Taxation in China (Treaty Provision) Withholding taxes 10% 10% 10% Nil CYPRUS CHINA
- 31. Cyprus-UAE (No tax treaty) 27 th November 2010 P. P. Shah & Associates f) Cyprus-UAE: Taxation in Cyprus (Domestic Law) Dividend/Defense Tax Exempt* Interest 10%** Royalties Exempt Capital Gains Exempt * Only if <50% of subsidiary’s activities result in investment / passive income ** on net amount (thin spread) Taxation in UAE (Domestic Law) Withholding taxes Nil Nil Nil Nil CYPRUS UAE
- 32. UAE-Finland 27 th November 2010 P. P. Shah & Associates g) UAE-Finland: Taxation in UAE (Domestic Law) Dividend Exempt Interest Exempt Royalties Exempt Capital Gains Exempt Taxation in Finland (Treaty Provision) Withholding taxes Nil Nil Nil Nil UAE FINLAND
- 33. Mauritius Holding Company Analysis 27 th November 2010 P. P. Shah & Associates
- 34. Mauritius-Singapore 27 th November 2010 P. P. Shah & Associates a) Mauritius-Singapore: Taxation in Mauritius (Domestic Law) Effective tax rate Dividend 3% Interest 3% Royalties 3% Capital Gains Exempt Taxation in Singapore (Treaty Provision) Withholding taxes Nil Nil Nil Nil Mauritius Singapore
- 35. Mauritius-South Africa 27 th November 2010 P. P. Shah & Associates b) Mauritius-South Africa: Taxation in Mauritius (Domestic Law) Effective tax rate Dividend 3% Interest 3% Royalties 3% Capital Gains Exempt Taxation in South Africa (Treaty Provision) Withholding taxes 5% if min 10% participation 15% in other cases Nil Nil Nil Mauritius South Africa
- 36. Mauritius-India 27 th November 2010 P. P. Shah & Associates c) Mauritius-India: Taxation in Mauritius (Domestic Law) Effective tax rate Dividend 3% Interest 3% Royalties 3% Capital Gains Exempt Taxation in India (Treaty Provision) Withholding taxes 5% min 10% participation 15% in other cases Taxable 15% Nil Mauritius India
- 37. Singapore Holding Company Analysis 27 th November 2010 P. P. Shah & Associates
- 38. Singapore-Austria 27 th November 2010 P. P. Shah & Associates a) Singapore-Austria: Taxation in Singapore (Domestic Law) Dividend Exempt if min 15% headline tax Interest Corporate tax rate Royalties Corporate tax rate Capital Gains Exempt Taxation in Austria (Treaty Provision) Withholding taxes 10% Nil if min participation 10% 5% 5% Nil Singapore Austria
- 39. Singapore-China 27 th November 2010 P. P. Shah & Associates b) Singapore-China: Taxation in Singapore (Domestic Law) Dividend Exempt if min 15% headline tax Interest Corporate tax rate Royalties Corporate tax rate Capital Gains Exempt Taxation in China (Treaty Provision) Withholding taxes 12% 7% if min participation 25% 10% 10% Taxable Singapore China
- 40. Singapore-India 27 th November 2010 P. P. Shah & Associates c) Singapore-India: Taxation in Singapore (Domestic Law) Dividend Exempt if min 15% headline tax Interest Corporate tax rate Royalties Corporate tax rate Capital Gains Exempt Taxation in India (Treaty Provision) Withholding taxes 15% 10% if min participation 25% 15% 10% equipment leasing 15% in other cases Nil Singapore India
- 44. Thank You 27 th November 2010 P. P. Shah & Associates