That taxes are not an easy topic we are all very well aware. Even Albert Einstein, one of the greatest intellects of all time, is said to have recognized that “The hardest thing to understand in the world is the income tax”. 

Nevertheless, there is no doubt about the importance of understanding taxation. After all, as Benjamin Franklin has well said, “in this world nothing can be said to be certain, except death and taxes”. 

Besides, taxes can also be viewed as a measure of one’s worth. As the saying goes – know your worth, then add tax.

For these reasons – and many more – and especially given the complexity of income taxation around the world, the MI Tax Practice Group was created with the intention of fostering the exchange of information regarding taxes between members from the different MI Member Countries so as to help member to better understand how the taxation system of different countries and jurisdictions works – including rules regarding the exchange of information, compliance with tax guidelines, criteria used for determining whether a  transaction should be regarded as a legitimate or non-legitimate tax planning, tax inspection procedures and practices in different countries, among other aspects – and thus provide mutual assistance with regard to the taxation applicable to cross-border transactions.

MI’s Tax Practice members are well experienced in dealing with various transnational transactions and have great knowledge not only regarding local tax legislation and regulations, but also on international tax treaties and local market practices. 

Practitioners have great expertise in reconciling contrasting tax systems from different jurisdictions, helping foreign entrepreneurs to establish or increase business in their jurisdictions and achieve tax efficiency in compliance with all applicable laws and court rulings – which may involve corporate reorganizations such as joint ventures, acquisitions and divestitures, mergers, spin-offs and amalgamations, as well as debt renegotiations –, and in providing guidance on the eligibility to, and compliance with, regional and sectoral tax incentives, as well as other tax incentive programs and regimes made available under governmental industrial policies, in addition to incentives enjoyed under specific customs systems.

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    Tax PG Participants June22

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