Taxation Services

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The Distinction Between Legitimate Tax Planning and Tax Evasion: Key Insights from a Landmark ITAT Ruling

December 28, 2024by Dr Dawkins Brown

The Income Tax Appellate Tribunal (ITAT) in Mumbai recently delivered a pivotal judgment that reaffirmed taxpayers’ rights to engage in legitimate tax planning while delineating its boundaries from tax evasion. This landmark ruling not only clarified the nuances of tax law but also emphasized the importance of compliance and transparency in financial planning. The Case...

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Navigating the 2024 Tax Filing Season with Dawgen Global’s Expertise

December 16, 2024by Dr Dawkins Brown

Tax season is often met with dread, especially for self-employed individuals who need to stay on top of quarterly tax payments and ensure all their financials are accurately reported. As the 2024 tax filing season approaches, beginning in January 2025, many will face the familiar challenge of calculating what they owe and making sure all...

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Navigating the Tax Implications of IFRS 17 in Jamaica

December 14, 2024by Dr Dawkins Brown

The adoption of International Financial Reporting Standard 17 (IFRS 17) in Jamaica marks a significant transformation in the financial reporting and taxation landscape for insurance companies. Effective January 1, 2023, IFRS 17 replaces IFRS 4, introducing new principles for the recognition, measurement, presentation, and disclosure of insurance contracts. This shift is not merely an accounting...

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Understanding Jamaica’s Capital Allowance Regime

December 14, 2024by Dr Dawkins Brown

The Capital Allowance Regime in Jamaica plays a pivotal role in the nation’s income tax framework, allowing businesses to recover costs incurred from investments in specified assets. This regime underwent significant reform with the implementation of the Fiscal Incentives (Miscellaneous Provisions) Act, effective January 1, 2014, which amended the First Schedule of the Income Tax...

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Adapting Taxation in a Transforming Economy: Insights from the OECD’s Consumption Tax Trends 2024

November 24, 2024by Dr Dawkins Brown

The OECD’s “Consumption Tax Trends 2024″ report provides a detailed exploration of consumption tax policies across its member countries, highlighting Value Added Tax (VAT), Goods and Services Tax (GST), and excise duties. As global economies evolve, so must tax systems. The report offers critical insights into how consumption taxes are structured, their efficiency, and how...

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Steady Tax Revenues Amid Growing Fiscal Pressures in OECD Countries

November 24, 2024by Dr Dawkins Brown

In 2023, the Organisation for Economic Co-operation and Development (OECD) reported a stable average tax-to-GDP ratio of 33.9% among its member countries. This level represents a slight decrease of 0.1 percentage points compared to 2021 and 2022 but remains above the pre-pandemic average of 33.4% observed in 2019. The data reveals a delicate balance as...

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Tax Advisory: Maximizing Tax Efficiency and Compliance in Jamaica

October 23, 2024by Dr Dawkins Brown

In today’s complex economic environment, businesses are constantly seeking ways to maximize profitability while minimizing costs. One of the most significant areas where companies can enhance their financial efficiency is through effective tax planning. In Jamaica, with its intricate tax regulations and evolving compliance requirements, businesses must navigate a variety of challenges to ensure they...

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Exploring Global Tax-to-GDP Ratios: What the Numbers Reveal

August 10, 2024by Dr Dawkins Brown

In a globalized economy, understanding the relationship between tax revenue and economic output is crucial for evaluating the fiscal health of a nation. The tax-to-GDP ratio serves as a key indicator of this relationship, measuring a country’s tax revenue relative to the size of its economy. This metric is not just a number; it reflects...

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OECD’s Pillar Two Implementation Gains Momentum: A Key Update for Multinational Entities

July 27, 2024by Dr Dawkins Brown

The implementation of the Pillar Two minimum tax portion of the OECD’s international plan to address tax base erosion and profit shifting (BEPS) is making significant strides, with global adoption rapidly increasing. The Organization for Economic Cooperation and Development (OECD) provided a detailed update to the Group of 20 (G20) nations, emphasizing the progress and...

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Tax Court of Canada Rules Employee Benefits Taxable Over Dividends in Digital Extremes Case

July 26, 2024by Dr Dawkins Brown

In a significant ruling, the Tax Court of Canada has determined that distributions to shareholders following the sale of the Canadian video game company Digital Extremes Ltd. should be taxed as employee benefits rather than dividends. The decision underscores the necessity for clear allocation of shares within trusts to qualify for capital gains taxation. The...

Newer Posts

Older Posts

The Distinction Between Legitimate Tax Planning and Tax Evasion: Key Insights from a Landmark ITAT Ruling

Navigating the 2024 Tax Filing Season with Dawgen Global’s Expertise

Navigating the Tax Implications of IFRS 17 in Jamaica

Understanding Jamaica’s Capital Allowance Regime

Adapting Taxation in a Transforming Economy: Insights from the OECD’s Consumption Tax Trends 2024

Steady Tax Revenues Amid Growing Fiscal Pressures in OECD Countries

Tax Advisory: Maximizing Tax Efficiency and Compliance in Jamaica

Exploring Global Tax-to-GDP Ratios: What the Numbers Reveal

OECD’s Pillar Two Implementation Gains Momentum: A Key Update for Multinational Entities

Tax Court of Canada Rules Employee Benefits Taxable Over Dividends in Digital Extremes Case

April 16, 2025Preparing for the Future Today: Restructuring with Exit Planning and Due Diligence in Mind

April 16, 2025The Owner’s Agenda: Structuring for Succession, Sale, and Stakeholder Alignment

April 16, 2025Structuring for Success: When and Why Your Business Should Reevaluate Its Tax Framework

April 15, 2025Cross-Border Taxation: Optimizing Your International Business Operations

April 15, 2025Reconciliation as a Strategic Tool: Enhancing Accuracy and Profitability

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Where to find us?

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