Court Uncourt Magazine - Volume VI Issue 9

In this issue

The need for revision of the international tax structure to align the framework with the enlargements of the global economy coupled with ensuring that profits are taxed at the place of the economic activity, the Base Erosion and Profit Shifting (BEPS) was launched. The expression is often used along often used along with tax-evading strategies in which the taxpayers shift their profit from a high tax-paying jurisdiction to a truncated tax-paying jurisdiction. In essence, the framework abuses the disparities and gaps in the tax rules which primarily is the reason for the shifting of tax Highlighting the consequences of such autonomous measures by countries including the eruption of global tax disorder, the BEPS Action Plan is an attempt stemming from countries’ efforts to protect their legitimate tax base. There are 15 recommendations made under the same which address the digital economy, tax challenges, interest deductions, special tax regimes, treaty abuse, development of a multilateral instrument, etc., making it the most inspiring bilateral global tax policy initiative ever undertaken. To this end, the purpose of this launch is to eradicate double non-taxation as well as end treaty abuse by requiring the countries to implement comprehensive changes to the existing tax treaty network
In this issue of C ourt Uncourt, our lawyers will elaborate on an array of legal matters including BEPS Action Plan, Intellectual Property Regime in the United Kingdom, Warranties in Marine Insurance in the United States of America, Force Majeure Clauses and the Limitation of Liability, Cryptocurrency and Asset Exchange in the Abu Dhabi Global Market, Importation of Private Aircraft into the European Union, Virtual Reality and Copyright, a Guide to Abu Dhabi Oil and Gas, etc