A company may trigger a permanent establishment (PE) in a foreign country through local activities, leading to tax liabilities. In a recent case, the Indian High Court ruled that Caterpillar’s subsidiary, Progress Rail, did not create a PE as its activities were deemed auxiliary. However, the case underscores the need for multinationals to stay aware of PE risks in different jurisdictions.
In the UK, companies and LLPs must maintain a People with Significant Control (PSC) register, documenting individuals or entities with significant influence over the business. The 2023 Economic Crime and Corporate Transparency Act introduces key updates, including a centralized PSC register and ID verification for PSCs. Staying compliant with PSC regulations is essential to avoid penalties, and businesses should ensure their records are accurate and updated regularly to maintain transparency and meet legal obligations.
Setting up a UK LLP offers non-residents a tax-efficient, credible, and flexible business structure for international operations.
Corporate tax registration is now a key requirement for UAE businesses, impacting those with profits above AED 375,000. Vyssor Accounting simplifies the process, ensuring compliance and minimizing risks. Let us guide your business toward seamless tax registration and ongoing financial success.
Dubai offers unmatched opportunities for entrepreneurs with tax benefits, a strategic location, and world-class infrastructure. Setting up a business here is efficient and opens doors to global markets. Discover how Vyssor can guide you through the process seamlessly.
Hiring independent contractors for international expansion may seem easy, but different labor laws in each country can lead to penalties if workers are misclassified. This can result in fines, back pay, and tax issues, along with potential damage to your business reputation. To avoid these risks, companies should understand local laws, draft proper contracts, and ensure compliance with tax regulations before hiring abroad.
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