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The Japanese government's 2018 tax reform bill abolishes the recently introduced rule under which the heirs of a long-term resident foreigner who died outside Japan remain liable to Japanese inheritance tax (IHT) on estate assets anywhere in the world. The rule had threatened to derail the government's efforts to attract foreign talent to live and work in Japan, because it meant IHT liability could follow a foreign national for up to five years after leaving the country.

INTERNATIONAL - ISRAEL: Tax authority launches new voluntary disclosure programme

The italian Notary

If the property is classified with “heritage” status or if it is subject to particular artistic-scenic restrictions there must be, in certain circumstances, the authorization of the relevant authority for the sale and it is subject to pre-emption by the Monuments and Fine Arts Office; It may be that the asset is subject to certain formal claims (usually one or more mortgages) which mean it is not entirely “free”; the notary is able to check on the existence of such circumstances and advis

It is generally agreed that the notion of a "sale" includes not only transactions for the transfer of property rights but also those for the transfer or creation of partial real rights or enjoyment (e.g. bare ownership or usufruct).

If the parties wish to set up an general partnership, they must respect the specific rules laid down in this regard by the Civil Code, bearing in mind, in any case that, for many aspects, the law refers the reader to the provisions regulating informal partnerships, which consequently apply equally to general partnerships. So that, in the light the foregoing, the present file foresees multiple referrals to the subjects already dealt with and developed with regard to the informal partners

Home loan contracts with a bank for a duration exceeding 18 months enjoy significant reductions in terms of indirect taxes: the contract does not attract stamp duty or registration duty or the mortgage registration tax, but only a “substitute tax” of 0.25% on the amount of the home loan which is debited directly by the bank and paid over to state revenue (N.B.: for mortgage contracts for the purchase, construction or restructuring of a second or subsequent home, from 1 August 2004 the tax th

Only legal security in business and private relationships allow for economic development; therefore a constitutional state must guarantee  legal security to its citizens. To this goal: 1) lawsuits  must be prevented, for as much as possible; 2) the citizens must have access  to public registers whose records are reliable and legally trustworthy. Clearly the reliability of the findings depends entirely upon the trustworthiness of the deeds entered. An authentic deed, drawn by a

A joint-stock company must be set up through a public deed which must clearly indicate who the parties to the contract are. Such parties may be individuals but also legal entities (as for instance other joint-stock companies, partnerships, cooperatives or other bodies).The Memorandum of Association must indicate the Municipality in which the company has its registered office, which is where it operates, and the name of the company which must contain the wording “"società per azioni" or "s.p.

From the historic and regulatory point of view, the joint-stock company is the prototype of the company with share capital whose body of rules apply to the limited partnerships with share capital (s.a.p.a.), with which it is compatible, and in some respects they are very close to the rules that govern the limited liability company, which however makes little reference to the rules on joint-stock companies, which consequently do not directly apply. The joint-stock company (s.p.a.) differs fro

Once upon a time it was enough to say that a foreigner was someone who was not an Italian citizen. This definition – to be clear – is still valid. Except that Article 17 of the EC Treaty institutes a citizenship of the European Union which is attributed to anyone who is a citizen of a Member State. Belonging to the European Union brings with it various consequences, some of which are very important, like the prohibition on

Co-operatives are associations of persons which are protected in the Italian Constitution:  in fact Article 45 of the Italian Constitution states: “the Constitution recognises the social function of co-operative societies that are based on the values of solidarity and that do not pursue goals of private profit”.In co-operatives predominant importance is ascribed to the social function, which consists in implementing a democratic decentralisation of the power of organisation and management of

Let us take the case in which the Parties decide to undertake an entrepreneurial activity by setting up  a partnership.What would the general characteristics of such a company be?First of all, as regards the unlimited and joint liability of the partners:- in the case of a general partnership, all the partners have unlimited and joint liability;- in the case of an informal partnership, all the partners have unlimited and joint liability, but there can be an agreement whereby the partners who

In order to do business often huge investments are required and often a single person may not have that amount of financial means. Doing business through a company enables several people to invest and work together so that each individual may then enjoy the benefits of the activity carried out proportionately to the amount of work done and to the quota of investments made.A participation (share or quota) of the capital of the company is assigned to the partner in return for the assets he has

Individuals who set up a company do so because they want to carry out a given economic activity together with other individuals.  This activity is the corporate purpose and must be indicated in the Memorandum of Association.  It may be changed during the life-time of the company only in accordance with the amendment rules envisaged in the Memorandum of Association.The activity must be a productive activity, i.e. a business aimed at producing or trading goods or providing services, while it c