All posts by baiqingluo

Commentary: Home Equity Tax

  The debate about reforming the taxation rules of the principal residence exemption (PRE or the “Exemption”) has been revived recently. Under s.40(2)(b) of the Income Tax Act (“the Act”), a sale of a principal residence qualified as such under s.54 of the Act would result in an exempt portion of the capital gain ensuing […]

Commentary: UK Applies 0% VAT on Digital Advertising by Charities, But Questions Remain

  HM Revenue & Customs (“HMRC”),  the UK’s equivalent of the CRA, recently updated its policy on charity digital advertising. The refined policy applies zero value-added tax (“VAT”) tax on five types of digital advertising by charities, all of which target an aggregate of IP addresses, rather than singling out individuals. As we know, VAT is paid at the […]