This article considers the characteristics and typical UK tax treatment of Foundations registered with the Dubai International Financial Centre (DIFC) Registrar of Companies. References to Foundations means DIFC Foundations. Definitively classifying a Foundation is difficult because it is not a vehicle recognised under English law. In broad terms a Foundation may be treated as a trust a bare trust or a company for UK tax purposes.
DIFC law has been drafted to create a hybrid between a trust and a company. For UK taxation it is difficult to classify a Foundation as one or the other. As it is a new entity there...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
This article considers the characteristics and typical UK tax treatment of Foundations registered with the Dubai International Financial Centre (DIFC) Registrar of Companies. References to Foundations means DIFC Foundations. Definitively classifying a Foundation is difficult because it is not a vehicle recognised under English law. In broad terms a Foundation may be treated as a trust a bare trust or a company for UK tax purposes.
DIFC law has been drafted to create a hybrid between a trust and a company. For UK taxation it is difficult to classify a Foundation as one or the other. As it is a new entity there...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes: