Taxation
Our experienced tax advisors provide tailored solutions to help individuals and businesses navigate the complex world of taxation, optimize their tax strategies, and minimize tax liabilities while staying compliant with applicable laws and regulations.
Tax legislation shows different characteristics in every country. In addition, the concept of tax includes value-added tax, consumption tax, income tax, customs duties, and all kinds of compulsory tax liabilities that must be paid to the government. Investors who have a company or branch in a foreign country need to be well-informed about the tax advantages of that country to provide them with self-financing. For example, in countries where import tax rates are low or tax payment obligations are linked to domestic sales instead of export transactions, investors actually avoid paying advance taxes for a certain period of time and reduce their investment transaction costs.
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As an example Switzerland is a country with highly advanced tax laws, particularly in the realm of corporate taxation. Switzerland is divided into 26 cantons or states, each of which is financially autonomous. The cantons are accountable for their own budgets and have the authority to set their own tax rates. As a result of intense tax competition among the cantons, there are significant differences in tax rates between them.
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Taxation based on expenses is a simple and advantageous form of taxation for individuals who meet certain conditions in Switzerland.
Those who are not Swiss citizens and establish tax liability for the first time in Switzerland may opt to be taxed based on their expenses. In Switzerland, there is no capital gains tax for privately held stocks or other securities.
QANAQ ensures the provision of the most appropriate tax consulting services to its clients by working with consultant partners who provide audit services in the tax field in different countries.
The income tax rate in Nigeria can vary depending on the source and amount of income. Individual income tax rates range from 7% to 24%. For companies, the tax rate is 30%. In addition, there may be regional variations in Nigeria.
The income tax rates in Slovenia vary according to income level. For 2021, the tax rate is 16% for income up to 16% of gross income and 27% for income exceeding 16% of gross income. In addition, there are other types of taxes such as property tax, vehicle tax, value-added tax, etc.
In Germany, tax-related disagreements are handled by tax courts that are part of the legal systems of the federal states and can be found throughout the country. These disputes may involve various issues, such as tax deductions or tax returns by taxpayers.
The typical composition of a tax court is three judges who base their decisions on legal regulations, tax laws, and previous court decisions. The parties involved have the right to appeal a decision, and the appeal is then forwarded to the Federal Court of Justice. Furthermore, there are alternative dispute resolution methods, including mediation or settlement, that can be employed in tax disputes in Germany.
It is important for taxpayers to seek professional consultancy services and to prepare thoroughly for tax disputes.
QANAQ provides consultancy services for resolving tax disputes in foreign countries through litigation or alternative dispute resolution methods, using its partners in Germany and other countries.