The decision also clarifies that this treatment applies not only to fund structures that generate business income based on their activities, but also to fund structures that generate business income based on the legal features of the relevant structure.
The swing to a government pledging more taxation, not less, adds fuel to the debate about democratic socialism versus unfettered capitalism
Portuguese law, as a rule, does not provide for the settlement of trusts, with the exception of offshore trusts in the Madeira Free Trade Zone.
‘Shakira has always, including in the period between 2011 and 2014, met her tax obligations in every country she has worked in,’ the statement read.
Voluntary disclosure of offshore accounts, financial assets and income in the run-up to full implementation of the AEOI initiative resulted in more than EUR 95 billion in additional revenue (tax, interest and penalties) for OECD and G20 countries over the