Edition #05, July 2014
IPG YOUR RELIABLE PARTNER
 
Our last conference in Munich, Germany, proved that IPG is there for you. Members from all over the world met and discussed new business opportunities or were working on practical solutions for their clients. In addition, we welcomed again a number of very valuable members to IPG. Overall, the conference was a great success.
 
In this newsletter, you will find more information about our newest members and which services they have to offer ranging from tax advice, law practices and business valuations in Europe, Africa, Asia and South America. Also you will find a report about the last Munich conference and an update from Canada, China, New Zealand, Europe and Brazil.
 
This newsletter shows only a small bit of the worldwide knowledge IPG has to offer. More information about the association and our other members can be found on our website www.ipg-online.org. When you are interested in becoming a member you can send an email to the secretariat or fill out the form on our website.

 
 
WONDERFUL CONFERENCE IN MUNICH
Article by Jens Langendorff
 
 
This year the spring conference was held in Munich, Germany. The last conference held in Germany was in the city of Dortmund in May 2011, so it was time to revisit the beautiful country of Germany again. The conference was hosted by our three member firms from the Munich area: Patent Attorneys Grättinger Möhring von Poschinger, Law Firm Schuffels Rechtsanwälte, Tax Advisor and Auditor Michael Wagner.
 
After at least two years of preparation, the final programme did not only looked promising but also worked out to be a great conference resulting in many businesses and networking opportunities. In addition, IPG was happy to welcome four new members from different regions of the world (these will be introduced separately in this newsletter).
 
As always the Thursday programme starts with the traditional golf and tennis tournaments. Duncan from Barnes Roffe LLP described his golf experience as follows:
 
"The tournament in Munich was attended by 13 members from the IPG network and played at a fantastic golf course very close to the City centre.
I had the pleasure of playing with Cesare from Italy and Wild Bill from the USA…The overall winner, with a fantastic points tally of 52 from a handicap of 29….yes I will say that again…52 was our Karina from our Danish member firm Lead Legal advice Denmark. An outstanding points tally….note to handicap committee to cut her for the next tournament in Dubai. In second place and after a very late night and the old phrase…” I never play golf…honest…” was our fantastic host Hubert, with a mere 44 points from a handicap of 54!!! All I can say is, err… well done!! The chairman of the handicap committee has been informed!!! Just left for me to say what a great tournament it was, with plenty of laughter and fun. Looking forward to the next tournament in Dubai later in the year."
 
On Thursday afternoon the delegates and their spouses could show how fancy they look in traditional clothing (“Lederhose, Dirndl, Trachtenanzug”) while enjoying a traditional Bavarian Diner in the famous restaurant "Nockherberg”. It turned out to be the best location to meet each other again after a long half-year since the Barcelona conference in October 2013.
 
The Friday morning started very early, especially for those who made a combination of staying in the bar until late and joining the well-organised guided running tour through the city of Munich. The conference program started with the traditional opening speech in the language of the hosting country. However since the chairman’s mother tongue is German this caused little practical problems compared to earlier years. After short presentations by their hosts about their activities the floor was given to Dr Reinhold Bocklet (Vice President of the Bavarian Parliament, former Bavarian Minister of European Affairs and former Member of the European Parliament) who gave a welcome speech informed us about a very clear and interesting view on politics and economy in Bavaria. Our host Hubertus von Poschinger informed us about the fundamentally new court system for patent infringement cases in Europe, The Unified Patent Court (UPC). A very interesting subject about a long desired change for a unified European system. Just before coffee break the potential new member firms had a chance to present themselves. Dr Wolfgang Hübschle (Executive Director of Invest‐In‐Bavaria, the Business Promotion Agency of the state of Bavaria, Bavarian Ministry of Economic Affairs and Media, Energy and Technology: "Cluster Initiative Bavaria – Enhancing Bavaria's role as a top location for business and research") informs us about the Bavarian approach on supporting companies and research in various fields of technology . Lastly, Mr Marco Freiherr von Maltzan was given the floor to speak about "GLOBAL OPPORTUNITIES AND LOCAL CHALLENGES: A LOOK BEYOND THE EUROPEAN ELECTIONS". A very interesting topic. For those who are interested to look backward has been discussed, the slides of the presentation “Cluster Initiative Bavaria – Enhancing Bavaria’s role as a top location for business and research” by the Bavarian Ministry of Economic Affairs and Media, Energy and Technology, as well as the slides of the presentation “The Unified Patent Court (UPC)” can be found by following the link http://www.unified-patent-court.org/
 
Differently than in other years, the afternoon programme was not organised by the IPG board. Instead we went to the very famous “BMW-Welt” for a guided tour Guided tour through "BMW WELT" and "BMW MUSEUM" featuring – amongst others – an insight in current technology of BMW as well as a special exhibition ("Strive to perfection") to legendary Rolls‐Royce automobiles in the BMW Museum. An excellent opportunity to see what the Bavarian’s are capable of and an excellent opportunity for networking.
 
The evening was probably the highlight of the conference. The group was invited for the gala dinner in the wonderful private castle ("Schloss Neu‐Egling") located between the city of Munich and the Alps. What a beautiful castle, excellent dinner and dancing venue. Again, IPG is very grateful for the hospitality of the host of the evening, Karin Edle von Poschinger-Camphausen. A beautiful night and the beautiful memory to remain.
 
The Saturday morning was reserved for the general meeting where the next conference in Dubai was presented and where our four new member firms were voted in, namely
 
Law firms
  • WCS, Wiener / Soto / Caparos, Buenos Aires / Argentina (more details about this firm can be found here)
  • Cabinet d’Avocats Labib, Tunis, Tunisia (more details about this firm can be found here)
Accountancy & Tax firms
  • Aeternus Corporate Finance BV, Venlo / Netherlands (more details about this firm can be found here)
  • K G Somani & Co, New Delhi / India (more details about this firm can be found here)
On Saturday afternoon we were given even more networking opportunities during the sightseeing bus tour through old part of Munich including a visit of Odeonsplatz, Feldherrnhalle and Theatiner Church and a guided tour through Residenz and Schatzkammer and a short reception at the famous
Restaurant Tambosi at the “Hofgarten”. After some free time to do some shopping or drink one of the famous Bavarian beers, the conference came to an end in the evening when we visited "Asam Schlössl” where we had a very pleasant reception and dinner in one of the traditional venue.
 
For those who were interested, a visit and guided tour of the Dachau concentration camp memorial was organised.
 
IPG would like to thank the hosts Grättinger Möhring von Poschinger, Law Firm Schuffels Rechtsanwälte, Michael Wagner and all others who made this conference to a great success. To all members and hopefully new candidates, we hope to see you all in Dubai where the next conference will be held.
 
  
GRAHAM, SMITH & PARTNERS, INTERNATIONAL TAX COUNSEL
Jens Langendorff
Hemonystraat 11
1074 BK Amsterdam
 

 

MUNICH CONFERENCE MAY 6-9, 2014
  
Dear IPG Members and Guests,
 
it was our great pleasure to welcome so many of our members to the IPG Spring Conference in Munich, and we all would like to thank you for attending the conference.
 
After the Friday morning presentations, some of you asked for the slides of the presentations. These can be found here: “Cluster Initiative Bavaria – Enhancing Bavaria’s role as a top location for business and research Cluster Initiative Bavaria – Enhancing Bavaria’s role as a top location for business and research” by the Bavarian Ministry of Economic Affairs and Media, Energy and Technology, as well as the slides of the presentation “The Unified Patent Court (UPC)”.
 
We hope to see you soon.  
 
Best regards,
 
Michael
Hubertus
Rolf
 

 
 
‘Tax shield’ ruling success
Article by Arnaud Jouanjan (Introduction by K.M)
 
  
In the current issue of our Newsletter we have great pleasure to present the success of Arnaud Jouanjan and his team of Jouanjan & Partners, that in March, acting on behalf of their client, won a case at the European Court of Justice in the matter concerning ‘tax shield’ principle (Case C– 375/12).  
 
After a battle with the French administration (Direction départamentale des finances publiques de la Drôme), then at the French court (Tribunal Adminsitratif de Grenoble), finally ECJ was asked for a preliminary ruling on cap tax to be applied in France taking into account the foreign investment of a French taxpayer. Contrary to the standpoint of French administration, ECJ shared the arguments concerning the free movement of capital, persons and enterprises within the EU. In the verdict issued in the case, ECJ stated that the EU Internal Market rules preclude French tax provisions that fail to fully take into account taxes on foreign dividends already paid in another EU Member State. It ensured that the tax shield was effectively working and caused the partial return of the tax paid in France. This made the client happy and the firm proud. Now I am happy and proud to present the report of Arnaud Jouanjan and his partners on that case...
 
READ THE COMPLETE ARTICLE ON THE IPG WEBSITE
 
JOUANJAN & PARTNERS
Arnaud Jouanjan
2 rue du lac
74000 Annecy
The Netherlands
T: (+5999) 736.8080
 

 

 
 
Canada’s 2014 Federal Budget Proposes Elimination of the 60-Month Residency Exemption for Immigration Trusts Article by Robert A. Rastorp
 
   
Canada’s February 11, 2014 federal budget eliminated the tax benefits of immigration trusts for new residents of Canada. This is a radical change to Canada’s tax regime in regard to immigration trusts which could have adverse tax consequences for many recent and prospective immigrants to Canada and returning non-resident citizens of significant financial means.
 
Individuals resident or deemed resident in Canada are subject to Canadian income tax on all of their worldwide income. Although the rules involved are complex, Canada does not in general tax non-residents who are Canadian citizens on their worldwide income. Conversely, Canada’s non-resident trust rules result in many offshore trusts having deemed residency in Canada for tax purposes, although there is not sufficient space here to outline the legal tests used to distinguish between resident and non-resident trusts. Notwithstanding this general principle, a specific exemption has been provided for immigration trusts...

READ THE COMPLETE ARTICLE ON THE IPG WEBSITE
 
ROGERSON LAW CORPORATION
Robert A. Rastorp
One Dundas Street West | Suite 2500
M5G 1Z3 Toronto
T; 416.504.2259 begin_of_the_skype_highlighting 416.504.2259 Vrij  end_of_the_skype_highlighting


 
 
NEW ZEALAND FOREIGN TRUSTS
Article by Michael Robinson
 
 
The New Zealand Foreign Trust (“NZ Foreign Trust”) is an entity which provides non-resident persons an opportunity to utilise the economic and political stability and trusted reputation of New Zealand as a base to manage their assets, without the imposition of New Zealand tax on non-New Zealand sourced income. 
 
In order to utilise the NZ Foreign Trust regime, no person who makes a settlement on the Trust (a “settlor”) may be a New Zealand tax resident.  Under New Zealand tax law, a settlor includes any person who transfers value to the trust and also includes someone who provides financial assistance to the trust or for the benefit of the trust with an obligation to pay on demand, and the right to demand is not exercised or is deferred. 
 
 
TURNER HOPKINS
Michael Robinson
400 Lake Road
33237 Auckland
New Zealand
T; 64 9 4862169

 
 
Brazil: Provisional Measure Nr. 627 – Important Changes In Brazilian Tax Legislation
Article by Maria Flavia Junqueira
 

After the publication of Normative Ruling nr. 1.397, by the Brazilian IRS, on September 19, 2013, it was highly anticipated the publication of a new act by the Brazilian Government clarifying several aspects of the consequences to tax arising from changes in commercial and accounting rules that taken place over the last few years. Within this context, Provisional Measure nr. 627 ("MP 627") was finally published on November 12, 2013. 
 
Surprisingly, MP 627 has gone way beyond the scope initially imagined. MP 627 brings several changes to the corporate income tax legislation, some of which are summarized below...
 
 
AXTOR GROUP
Maria Flávia Junqueira da Cunha
Schouwburgweg #3
Gaito, Curacao
T: +5999 736.8080


 
 
China Legal Changes
Far-reaching Reforms Liberalize the Economy and Regulate Government! Article by Nicolas Musy
 

As we mentioned in our January Analysis, China is at a turning point. In the wake of growing societal unrest, public disillusionment with corruption, growing environmental problems and economic dislocations, the Chinese leadership must face its greatest challenge yet: set the country on a economically sustainable path, all the while winning back the hearts and minds of those who have been disenfranchised by the previous decade of “growth at all costs”.
 
And as we described, there is no alternative but a radical change of course, should China’s development continue:
 
In November 2013 Xi Jinping and his government, released the details of the long-term economic and social reforms agenda in a 60 points reform plan. Though the plan does not include any political reform its effect could be as transforming as the agenda pursued by Deng Xiaoping in the 1980s that transformed the Chinese economy and opened China to the world.
A key pillar of the reform agenda is the strengthening of the legal system in favor of the citizens and companies by fostering greater transparency, more judicial independence and professionalizing the judicial decision-making processes. Among others, specialized intellectual property right courts will be established, a clearer State Secret Law has been promulgated and officials have been instructed to provide expanded government information to the public, particularly about the way local governments use their funds.
 
 
CHINA INTEGRATED
Nicolas Musy
Fortune Times, Room 1002, 1438 Shanxi Bei Road Shanghai 200060, P.R. China
200060 Shanghai
+86 21 6266 0844 begin_of_the_skype_highlighting +86 21 6266 0844 Vrij  end_of_the_skype_highlighting
 


 
 
OUR NEW DUTCH MEMBER:
AETERNUS CORPORATE FINANCE
 
 
Aeternus is an international Corporate Finance Company
which delivers the following services:
  • Business Valuation (8 university educated valuators)
  • M&A transactions
  • Searching for candidates
  • Financing
  • Conflict management for business and court
  • Forensic Mediations
  • Value management
  • IP, Patent and Brand valuations.
Aeternus has 18 professionals (valuators, auditor, bankers,
legal advisers) with the aim to have the best deal for its clients.
 

AETERNUS CORPORATE FINANCE
Wim Lukaart
Noorderpoort 39
5916PJ Venlo
 T: (+5999) 736.8080
 
 
 

 
 
OUR NEW INDIAN MEMBER:
KG SOMANI
 
 
 
K G Somani & Co (KGS) is a 3rd generation Chartered Accountant firm, practicing in India for over 4 decades. Managing Partner, Mr K G Somani
is a past president of Institute of Chartered Accountants of India and has represented India on the council of International Federation of Accountants. KGS is registered with internationally reputed banks/ organisations/ bodies and has association with various large Financial Institutions, Banks, Power Companies and Corporations based in and outside India across various IT platforms.
 
KG SOMANI
Anuj Somani
3/15 Asaf Ali Road
110002 New Delhi

T +91 11 23252225 begin_of_the_skype_highlighting +91 11 23252225 Vrij  end_of_the_skype_highlighting
 

 

 
 
OUR NEW TUNISIAN MEMBER:
LABIB CABINET D'AVOCATS
 
 
Labib Law Firm is a dynamic and innovative firm providing a wide range of legal services in Tunisia and Libya. Growing in a competitive international field, our firm established a solid reputation in a short period of time, while still maintaining its human dimension. We succeeded in adapting to the new regional situation in North Africa along with all its challenges. More than a firm, we are a team of dedicated and internationally trained lawyers and tax advisors who have the capacity of combining their expertise in Law and their extensive experience in business to assist local and foreign clients with customized, efficient, and modern legal services.
 
LABIB CABINET D'AVOCATS
Yacine Labib
67 Avenue Alain Savary, B42
1002 Tunis
T +21623242510 begin_of_the_skype_highlighting +21623242510 Vrij  end_of_the_skype_highlighting
 


 
 
OUR NEW ARGENTINE MEMBER:
WIENER.SOTO.CAPARRÓS
 

Wiener.Soto.Caparrós is a unique Latin American firm that brings together attorneys from Argentina, Brazil and the U.S. to offer international legal services.
 
A highly-qualified team of 20 professionals offers full-service legal advice to a wide range of businesses, investors and individuals navigating a challenging legal environment.
 
Through a network of associated law firms, WSC advises clients in Argentina, Brazil, Colombia, Chile and other Latin American countries.  Attorneys of the firm specialize in corporate law, banking and finance law, mergers & acquisitions, antitrust law, taxation and trade, litigation, employment law and insolvency law.  We advise on cross-border investments and activity between common law and civil law jurisdictions. 
In addition, attorneys of counsel to the firm specialize in administrative law, intellectual property, and “white-collar” criminal law.   
 
 
WIENER.SOTO.CAPARRÓS
Laurence P. Wiener
Presidente Roque Sáenz Peña 637
C1035AAB Buenos Aires
T 416.504.2259 begin_of_the_skype_highlighting 416.504.2259 Vrij  end_of_the_skype_highlighting
 

 
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Next Conferences
Dubai - United Arab Emirates
START:
Thursday 6th NOV 2014 END:
Sunday 9th may 2014
 
Click HERE for other future conferences
 
Paris - France
START:
Thursday 7th May 2015 END:
Sunday 10th may 2015
 
Click HERE for other future conferences
 
 
Agenda

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UPdate Dubai - conference Nov 6 - 9, 2014
 
The first conference to be held in the Middle East region which will be hosted by Senat Dubai.
 
As already announced in Munich, the Autumn Conference will be held in Dubai, where members will  be taken on a cultural journey through the sites and sounds of the Middle East,  you will be taken on a cruise on a local Abra passed the Madinat and Burj Al Arab, to a beautiful setting for the Gala dinner. 
 
The conference promises to be very informative and exciting and we ensure that you will al come away with an understanding of Dubai’s cultural and economic developments.
 
We are all looking forward to a very successful conference with all members during the first week of November.
 
Inshallah see you in Dubai! 
 
 
 
IPG International Practice Group
 
Address
Klausstrasse 19 - Postfach 712
8034 Zürich - Switzerland
 
Tel:  + 41 58 523 60 65 begin_of_the_skype_highlighting + 41 58 523 60 65 Vrij  end_of_the_skype_highlighting begin_of_the_skype_highlighting + 41 58 523 60 65 Vrij  end_of_the_skype_highlighting begin_of_the_skype_highlighting + 41 58 523 60 65 Vrij  end_of_the_skype_highlighting begin_of_the_skype_highlighting + 41 58 523 60 65 Vrij  end_of_the_skype_highlighting
Fax: + 41 58 523 60 69
 
 
 
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registered office 3 Hanbury Drive, London E11 1GA, United Kingdom
Disclaimer All contributions and announcements of this newsletters are submitted by IPG members. All statements and opinions included in the news-letters announcements are strictly the author(s) or submitter(s) and do not necessarily imply those of IPG. IPG is not responsible for the accuracy or publication permissions of any of the contributions.