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This study is part of a broader project conducted by the PGP Team to address which "similar entities" can qualify for Family Foundation (transparent) status, beyond foundations and mainland trusts.
It emphasizes that a candidate entity cannot engage in activities that would be considered business if carried out by an individual (such as a settlor, founder, or beneficiary). Personal investments and real estate are excluded from the definition of business.
However, the FTA consistently cautions that personal investments should not be mistaken for business investments, though the distinction remains unclear.
This research seeks to clarify this issue, and you can access it by clicking this link.
Disclaimer: Content posted is for informational and knowledge sharing purposes only, and is not intended to be a substitute for professional advice related to tax, finance or accounting. The view/interpretation of the publisher is based on the available Law, guidelines and information. Each reader should take due professional care before you act after reading the contents of that article/post. No warranty whatsoever is made that any of the articles are accurate and is not intended to provide, and should not be relied on for tax or accounting advice.
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Andrey provides legal support in taxation projects that involve tax advice, support in tax disputes and in all surrounding issues that may affect the implementation of tax advice. This includes economic substance, corporate and civil issues pertinent to tax, mergers and acquisitions of companies with multinational corporations being involved, and in major investment projects. Andrey’s expertise in local tax legislation and the interpretation of local tax regulation have been a notable feature of his support for clients that have expanded their business to such markets as India, China, Mexico, Venezuela, Argentina, Brazil, Paraguay, Peru, Italy, Hungary, Kazakhstan, Belarus, Armenia, Ukraine, Vietnam, Sri Lanka, Laos, and Türkiye.
Andrey has 35 years of experience in tax consulting and tax dispute resolutions, while for more than 20 years he has managed a group consisting of more than 10+ tax lawyers. Andrey also covers personal health care pro bono practice. This part of his professional activity consists of advising patients on medical law, assisting patients in obtaining medicines and medical devices, and providing legal support to patients in disputes with health authorities regarding the provision of expensive medicines. Andrey has been ranked in Chambers Europe 2020 and Chambers Global 2015, while he was marked out by the Pravo-300 2022 directory in band 1 in tax advice and tax litigation. He was recognized by Best Lawyers 2021 and 2022.
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