Author: Admin

FOCUS ON THE TAX CONVENTION BETWEEN FRANCE AND THE EMIRATES – ITS IMPACTS FOR INDIVIDUALS RESIDENT IN THE UAE

Admin

 

The tax treaty for the avoidance of double taxation between the French government and the government of the United Arab Emirates was signed on July 19, 1989 and was amended in 1993 to now also include a multilateral convention to prevent base erosion and profit shifting since the entry into force 1er January 2019 (the " Convention "). 

The objectives of this Convention are multiple. 

First, both countries wish to promote their economic relations and cooperation in tax matters. 

Furthermore, they wish to eliminate double taxation with respect to certain taxes expressly covered by the Convention[1].

However, the Convention has provided a safeguard: the scheme or strategies put in place by taxpayers, whether individuals or legal entities, must not have the sole and exclusive aim of obtaining tax relief provided for by the Convention.

The French and Emirati taxes covered by the Convention are limited to[2] :

– income tax including in the case of real estate sales;

– tax on companies registered in France or the UAE;

– the solidarity tax on real estate assets; and

– inheritance tax.

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FOCUS ON THE TAX TREATY BETWEEN FRANCE AND CANADA & ITS IMPACTS FOR FRENCH INDIVIDUALS RESIDING IN CANADA

Admin

The Tax Convention for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with Respect to Taxes on Income between the Government of France and the Government of Canada was signed on 2 May 1975 and amended in 1987, 1995 and 2010 (the "Convention"). [1] 

The objectives of this Convention are manifold. First, the two countries want to promote their economic relations and cooperation in tax matters. In addition, they wish to eliminate double taxation in respect of certain taxes expressly covered by the Convention.

However, the Convention has provided a safeguard: the set-up or strategies put in place by taxpayers, whether natural or legal persons, must not have the sole purpose of obtaining tax relief provided for by the Convention.

The French and Canadian taxes concerned by the Convention are limited to:

  • income tax, including in the case of a sale of immovable property;
  • corporate tax registered in France or Canada; and
  • tax on transfer duties free of charge (only in the case of France).

This article will help you better understand the tax impacts of your income between the two countries if you are an individual. If you are a company, we have also written an article to guide you. 

 

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FOCUS ON THE TAX CONVENTION BETWEEN FRANCE AND CANADA & ITS IMPACTS FOR FRENCH INDIVIDUALS RESIDING IN CANADA

Admin

The tax convention for the avoidance of double taxation and the prevention of tax evasion with respect to income taxes between the French government and the Canadian government was signed on May 2, 1975 and was amended in 1987, 1995 and 2010 (the " Convention ”) [1]. 

The objectives of this Convention are multiple. First, the two countries wish to promote their economic relations and cooperation in tax matters. Furthermore, they wish to eliminate double taxation with respect to certain taxes expressly covered by the Convention.

However, the Convention has provided a safeguard: the scheme or strategies put in place by taxpayers, whether individuals or legal entities, must not have the sole and exclusive aim of obtaining tax relief provided for by the Convention.

The French and Canadian taxes covered by the Convention are limited to:

  • income tax including in the case of real estate sales;
  • tax on companies registered in France or Canada; and
  • tax on gift tax (only for France).

This article will help you better understand the tax implications of your income between the two countries if you are an individual. If you are a business, we have also written an article to guide you. 

 

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HOW TO BECOME A STUDENT IN CANADA?

Admin

Canada is one of the most sought-after countries for immigration, for several reasons: universal healthcare, employment opportunities, cultural and religious diversity.

Furthermore, Canada is internationally recognized for its high-quality education system, and the country welcomes many international students every year. However, to study in Canada, it is essential to obtain a study permit. This article therefore aims to provide an overview of the step-by-step procedure for obtaining a study permit in Canada and becoming a student in Canada, taking into account the specifics regarding Quebec and briefly explaining how the Canadian education system works.

Etudiant Canada

We will first briefly present the Canadian study system in order to have a better understanding of the different procedures (I).

Next, we will discuss the procedure to follow regarding the study permit at the federal level outside Quebec (II).

Finally, we will explain the specific procedures to follow to obtain a study permit in the province of Quebec (III).

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HOW DO I IMMIGRATE TO CANADA AS A WORKER?

Admin

 

Canada is one of the most requested countries in terms of immigration, for several reasons: high-quality education, universal health, employment opportunities, cultural and religious diversity… 

As a worker and depending on your current situation, you have different opportunities to immigrate to Canada.[1]
Thus, in this article, we will come back point by point on the different opportunities that are available to you as a worker.[2]

We will first study immigration programs at the federal level, namely Express Entry, the program dedicated to the self-employed and the start-up visa program. These programs will allow you to immigrate to all provinces except Quebec (I).

Next, we will discuss the programs created for young people, namely the Working Holiday Permit and the Young Professionals Permit, which make it easier than other programs to immigrate from anywhere in Canada, including Quebec (II).

Finally, the programs specific to the province of Quebec, namely the Quebec program for permanent workers, temporary workers and business people (III), will be apprehended.

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CRYPTOCURRENCY AND TAXATION – COMPARATIVE STUDY FRANCE, UNITED ARAB EMIRATES & CANADA

Admin

Cryptocurrencies appeared in the digital world a decade ago and are now experiencing significant growth and democratization. 

As virtual means of payment that can be used mainly on the Internet, relying on cryptography to secure transactions and the creation of units, and escaping any control from regulators and central banks exists today more, there are today more than 4000 crypto-currencies in circulation. 

Nevertheless, their legal framework is sometimes confusing and difficult to understand. This article will thus aim to study the legislative framework of cryptocurrencies in France, Canada and the United Arab Emirates, but also their tax regime. We will then examine, in a non-exhaustive way, the Initial Coins Offerings, a new phenomenon of fundraising based on cryptocurrencies. 

What are cryptos in practice? 

HAS cryptocurrency is a virtual means of payment that links on cryptography to secure transactions and the creation of units, and that is beyond the control of regulators and central banks. Cryptocurrencies are therefore based on a computer protocol of encrypted and decentralized transactions, called blockchain. 

The best known cryptocurrency is bitcoin, which is a virtual unit of account stored on electronic media. Nevertheless, today there are more than 4000 cryptocurrencies in circulation in the world, the best known outside of bitcoin being for example Ethereum, Ripple or EOS, XRP, Tether, Cardan, Stellar, Chainlink, Uniswap, Polkado or USD Coin.

Cryptocurrencies are part of the broader framework of cryopoassets,which represent “virtual assets stored on an electronic medium allowing a community of users accepting them in payment to carry out transactions without having to resort to legal tender”. 


The issuance and circulation of digital cryptoassets is particularly related to Initial Coin Offerings(“ICOs”). Unlike a stock exchange issue (IPO), the ICO is financed on digital media called tokens. The ICO thus represents a fundraising operation operating through the issuance of digital assets exchangeable for cryptocurrencies during the start-up phase of a start-up or a business project. 

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CRYPTOCURRENCY AND TAXATION – A COMPARATIVE STUDY OF FRANCE, UNITED ARAB EMIRATES & CANADA

Admin

Cryptocurrencies appeared in the digital world around ten years ago and are now experiencing significant growth and democratization. 

A virtual means of payment that can be used primarily on the Internet, using cryptography to secure transactions and the creation of units, and escaping any control by regulators and central banks, there are now more than 4,000 cryptocurrencies in circulation. 

However, their legal framework is sometimes confusing and difficult to understand. This article will therefore aim to study the legislative framework for cryptocurrencies in France, Canada, and the United Arab Emirates, as well as their tax regime. We will then examine, in a non-exhaustive manner, Initial Coin Offerings, a new fundraising phenomenon based on cryptocurrencies. 

What exactly are cryptos? 

A cryptocurrency is a virtual means of payment that relies on cryptography to secure transactions and the creation of units, and is outside the control of regulators and central banks. Cryptocurrencies are therefore based on a computer protocol for encrypted and decentralized transactions, called blockchain. 

The best known is bitcoin, which is a virtual unit of account stored electronically. However, there are now more than 4000 cryptocurrencies in circulation in the world, the best known outside of bitcoin being for example Ethereum, Ripple or even EOS, XRP, Tether, Cardan, Stellar, Chainlink, Uniswap, Polkado or even USD Coin.

Cryptocurrencies are part of the broader framework of crypoactives, which represent " virtual assets stored on an electronic medium allowing a community of users accepting them as payment to carry out transactions without having to resort to legal currency ". 


The issue and circulation of digital cryptoassets is notably linked to Initial Coin Offerings (“ICO”)Unlike an IPO, the ICO is financed on digital media known as tokens (tokens). The ICO thus represents a fundraising operation operating via the issuance of digital assets exchangeable for cryptocurrencies during the start-up phase of a start-up or business project. 

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FOCUS ON THE TAX CONVENTION BETWEEN FRANCE AND CANADA: ITS IMPACTS FOR COMPANIES

Admin


The tax convention for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income and capital between the French government and that of Canada was signed on May 2, 1975 and was amended in 1987, 1995 and 2010 (the " Convention "). 

The Convention provides specific provisions for companies and businesses established in Canada but which continue to have links with France. 

The taxes covered by the Tax Convention are: 

  • income tax including in the case of real estate sales;
  • tax on companies registered in France or Canada;
  • tax on gift tax (only for France).

We will return point by point to the different sources of income and their taxation.

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THE EXIT TAX OR WHEN FRENCH EXPATRIATES IN THE EMIRATES ARE IN THE SIGHTS OF THE FRENCH TAX AUTHORITIES

Admin

Germany announced last February that it had purchased tax data of millions of people living in Dubai.

Questioned by The Echoes, the General Directorate of Public Finances has also confirmed that the sharing of this data with the French tax authorities has already taken place.

The French authorities are now seeking to identify potential fraudsters in this data and the presence of "undeclared income" and "unknown assets" of people wanting to evade tax in their country. This will include verifying whether French entrepreneurs who have gone to Dubai have paid the "exit tax" which applies to unrealized capital gains made in France and abroad (1).

This article will outline the concept of Exit Tax in order to inform French expatriates residing in Dubai about their compliance or not with French tax law due to their change of tax residence from France to the Emirates.

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IMPACRIATION OR WHEN A FRENCH CITIZEN GOES BACK TO FRANCE

Admin

Impatriation is a tax regime that was created for the benefit of French citizens who are tax residents abroad and also called “expats” who want to return to France permanently. 

This status aims to encourage French citizens to return to live in France after their expatriation.

Thus, an impatriate will be able to avoid paying French taxes when returning to France by benefiting from an exemption on certain sources of French and foreign income.

In this article, we will go over this impatriation regime point by point.

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