Waived or abandoned court judgment
If a beneficiary does not comply with a judgment obtained upon condition, they are deemed to have abandoned it.
immovable property
Federal Tax Authority releases much-anticipated free zone persons guide
The Federal Tax Authority of the UAE has released a guide that improves users’ understanding of corporate tax on free zone businesses.
As wealth inequality rises in Cyprus both people and democracy suffer
Cyprus households have a median net wealth of €200,400 in 2021, with the top 10% holding 46.1% of the net wealth. Wealth inequality is increasing, with the Gini coefficient for wealth distribution rising. Inheritance and bequests are a major factor in explaining wealth inequality. Returns to capital have grown faster than returns to labor, leading to greater wealth accumulation by households owning capital. High wealth inequality has profound socioeconomic effects and political consequences in shaping election outcomes and policies.
Council of Europe rapporteur visits Varosha
– Piero Fassino visited Varosha on Wednesday
– Fassino hopes Varosha will become a “living town” again with the agreement of the two parties concerned
– Fassino’s findings from the visit will be compiled into a report for the PACE’s next assembly in June
– All Council of Europe member states are expected to take the vote on the report into consideration
– Turkish Cypriot observers thanked Fassino for listening to both sides before preparing his report
Does Your State Have a Gross Receipts Tax?
The text discusses gross receipts taxes, which are imposed on businesses based on their gross sales before deducting operating costs. Seven states have a state-level gross receipts tax, while three allow municipalities to assess it locally. Gross receipts taxes have a long history but have fallen out of favor in recent decades. States often differentiate tax rates based on industry or revenue levels. Some states, like Nevada and Washington, have poorly structured gross receipts taxes that are legally problematic. Ohio and Oregon have recently made changes to their gross receipts taxes. Overall, the text argues that gross receipts taxes are harmful and should be replaced with a well-structured corporate income tax.
A sale contract tailor-made for the vendor
Fact: Buyers should be cautious when purchasing an immovable property, especially an apartment without an individual title, as it may lead to future legal disputes and risks.