The status lists for the Cape Town Convention and Aircraft Protocol have been updated to take account of the deposit of an instrument by the Russian Federation on 25 May 2011. The updated lists are available via the following links:
http://www.unidroit.org/english/implement/i-2001-convention.pdf
http://www.unidroit.org/english/implement/i-2001-aircraftprotocol.pdf
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The Aruban corporate income tax law distinguishes three different categories of taxation for Aruba corporate entities:
Taxable ARUBA CORPORATE ENTITY: As a starting point, an ARUBA CORPORATE ENTITY is a normally taxed company; subject to 28% corporate income tax and upon distribution of profits to non-resident shareholders either 5% or 10% withholding tax applies.
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On January 4, 2011, the United Kingdom is expected to implement two changes regarding Value Added Tax (VAT) policies. First, aircraft over 8,000 kilograms (17,635 pounds) will no longer be applied a zero rating for VAT purposes. Under current policy, aircraft can be fully imported into the UK allowing for “free circulation” within the 27 EU member states. Read more…
On 25 March 2010, the English High Court ruled on the matter of the validity of international aircraft financing transactions. The facts of the Blue Sky case clarify that England functioned an “off-shore aviation finance jurisdiction” as the aircraft involved were financed and leased by means of English Special Purpose Vehicles, while they were permanently operated in other jurisdictions. Moreover, the parties had “chosen” for English laws. Due to the application of inadequate English laws, more precisely the lex situs conflict of laws rule, a valid English mortgage which was created in an English nationality registered aircraft could not be enforced in English Courts. The reason for this decision was that the airplane was temporarily situated in Amsterdam at the time that the security interest was established. As a result of this case the financier’s claim of U.S. $ 43.1 million was not honored. The English Read more…
The BES-islands going Dutch: Constitutional restructuring of the Dutch Kingdom
Lincoln Gomez observes the constitutional restructuring of the Dutch Kingdom. He analyses the new fiscal regime that will operate in the newly formed BES-Islands (Bonaire, Saba and Sint Eustaius) and how this will lead to a brand new, fully compliant fiscal regime located in the Caribbean.
By Lincoln D. Gomez, Gomez & Bikker, Aruba – Thomas Jefferson School of Law
The Dutch Kingdom was chartered by the Charter of the Dutch Kingdom (“Statuut voor het Koninkrijk der Nederlanden”) of 1954. At that time the Dutch Kingdom was formed by three states i.e. the Netherlands, the Netherlands Antilles and Suriname. In 1975, Suriname chose for its independence and the Charter of the Dutch Kingdom was amended accordingly. From 1954 through December 31st, 1985, the Netherlands Antilles consisted of six (6) islands: Aruba, Curacao, Bonaire, St. Maarten, Saba and St. Eustatius. As a result of further constitutional restructuring Aruba became a separate state within the Dutch Kingdom as of January 1st, 1986 (“Status Aparte”). Hence, as of January 1st, 1986, the Dutch Kingdom consisted of three (3) states i.e. Aruba, the Netherlands and the Netherlands Antilles. Each of these jurisdictions had their individual (and different) fiscal jurisdictions. Through the Tax Read more…
Following recommendations made by Gomez & Bikker’s Aviation Finance Practice Group www.gobiklaw.com, on 17 May 2010 the Government of Aruba and the Netherlands tilles has ratified and implemented the Cape Town Convention on International Interests in Mobile Equipment and the Aircraft Protocol thereto. Jointly, these two instruments are generally referred to as the Cape Town Convention. The Convention and Protocol will enter into force on 1 September 2010. The decision to join the Cape Town Convention was taken by the Read more…
The Protocol to the Convention on International Interests in Mobile Equipment on matters specific to Aircraft Equipment (Protocol or AEP) was adopted on November 16th, 2001 and come into force on March 1st, 2006.[1] It was adopted during a diplomatic conference under the joint auspices of the International Institute for the Unification of Private Law (UNIDROIT) and the International Civil Aviation Organization (ICAO), Read more…
