Cyprus Tax Residency rules amended

2nd August 2017//Tax

Cyprus tax residency rules to be amended and the law is expected to come into force on the 1st of January 2018.The 183 days rule replacedThe 183 days rule will be replaced with the following criteria which must be met for an in ...

Reforms to Malta’s Gaming Legal Framework proposed

26th July 2017//White November

The Malta Gaming Authority Publishes a White Paper Proposing Major Reforms to Malta’s Gaming Legal Framework. On the 12th of July 2017 Malta Gaming Authority (MGA) has published White Paper proposing reforms to Malta’s Gaming Legal Framework. & ...

Changes to the Malta Residence and Visa Programme

13th July 2017//Residency

There were changes to the Malta Residence and Visa Programme as per Legal Notice 189 of 2017 as below:  Additional EUR5000 non-refundable contribution per parent or grandparent of the main applicant or of the spouse at application stage

Cyprus signs Multilateral Convention to Implement Tax Treaty

27th June 2017//White November

On the 7th of June 2017 Cyprus signed the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (“MLI”). The MLI will implement tax treaty measures in order to reduce opportunities for tax avoidanc ...

Cyprus Tax Treaty with Luxembourg

23rd June 2017//Tax

The treaty, based on the OECD model treaty, provides for the following maximum withholding tax rates on dividends, interest and royalty payments: Dividends: No withholding tax on dividends paid to a company that holds directly at least 10% of the ...

Cyprus Tax Treaty with Barbados

13th June 2017//White November

On the 3rd of May 2017 Cyprus signed double tax treaty with Barbados. Nil withholding tax on dividends, interest and royalty payments The treaty is based on the OECD Model Convention and provides nil withholding tax on divid ...

Cyprus – Commercial Court to be set up and operational from 2018

17th May 2017//News

Mr. Ionas Nicolaou, Minister of Justice and Members of Supreme Court had decided to set up a Commercial Court from the beginning of 2018. The Commercial Court shall have jurisdiction over matters arising from contracts or disputes between companies, the pu ...

Double Tax Treaty between Cyprus and Bahrain

4th May 2017//White November

The Double Tax Treaty (DDT) between The Republic of Cyprus and the Kingdom of Bahrain entered into force in January 2017. The DTT is based on the OECD Model Convention for the Avoidance of Double Taxation on Income and Capital with the aim to help attract ...

Ratification of double taxation treaty between Ukraine and Malta

26th April 2017//White November

On 13th April 2017, the Parliament of Ukraine approved the Convention and Protocol between Ukraine and Malta on “Avoidance of Double taxation and the Prevention of Fiscal Evasion with respect to Taxes on Income”, signed in Kyiv on 4th

Cyprus “Startup Visa”

20th April 2017//Cyprus

The programme of Cypriot "Startup Visa" (Startup Permit Scheme) was introduced in February 2017 and will operate till February 2019. The 2 year pilot programme shall attract talented entrepreneurs from third countries (outside EU and EEA). The programme c ...

“Paperoni” Tax and new guidelines on setting a residency in Italy

20th March 2017//Residency

Towards the end of the sixties one very famous Italian performer, Domenico Modugno, was singing ‘Meraviglioso’, which was saying “[…] but look around you/ gifts that have made you / They have invented the sea / You say ‘I have nothing’/ It seem ...

New Guidelines for Yacht Registration in Malta

15th March 2017//Yachts

As from the 1st January 2017 The Authority for Transport Malta introduced new provision that allows yachts, which are registered for pleasure use, to carry more than 12 people (excluding the crew) without being compulsively submitted to the Convection fo ...

Tax Changes of loans and profit margins in Cyprus

1st March 2017//White November

The Cyprus Tax Authority decided to change the current tax regime in relation to profit margins and loans between related parties. Whom does the change apply to?From the 1st of July 2017 all loans between Cyprus Tax Resident Compan ...

Change of the limited partnership legislation for private investment funds in UK

22nd February 2017//White November

In June 2016, the UK HM Treasury concluded the consultations on the proposal to change the limited partnership legislation for private investment funds. The new regime is fully operational and ready to be applied. 

Taxation of capital gains between Cyprus and Russia

13th February 2017//Tax

The Ministry of Finance in Cyprus announced, in agreement with Russian Government, to abolish the introduction of source-based taxation of capital gains on disposal of shares in property-rich companies.Disposals of shares in property-rich companies will co ...

Monthly instalments payments scheme for overdue taxes Cyprus

8th February 2017//News

The scheme covers income tax, VAT, special defence contribution, immovable property tax, capital gains tax, stamp duties, special contribution for employees, pensioners and self-employed persons, and inheritance tax.The repayment scheme introduced allows 5 ...

Switzerland prepares to vote on corporate tax unification

7th February 2017//Tax

Swiss Citizens are being asked in a national referendum next Sunday to approve reforms that would eliminate selective tax deals and introduce unified low rates for all companies. Whom do the reforms apply to?Under the proposed reforms i ...

Creditreform assigns A+ rating to Malta

8th February 2017//News

German credit rating agency Creditreform Rating AG, one of the leading rating agencies in Europe, assigned an A+ long-term sovereign rating to Malta. Creditreform described its future outlook as stable. Malta’s potential growth is amo ...

Solution to online transactions frauds

23rd January 2017//News

According to Oberthur.com, 65% of the total card fraud represents online "card-no-present" transaction frauds due to the rise of e-commerce around the world.  However ...

Tax changes in Bulgaria in 2017

16th January 2017//Tax

There are following changes with regard to taxes in Bulgaria in  2017: January 2017 – companies performing exclusively innovation, research and development activities as well as related activities are exempted from payment of p ...

The Netherlands 30% – tax ruling

12th January 2017//Tax

The 30%-ruling is a tax facility provided in the Wage Tax Act for employees who have been seconded to the Netherlands or recruited from abroad to work in the Netherlands and who meet certain conditions. These employees are referred to as ‘extraterritoria ...

Securitization: Why Malta?

21st December 2016//News

With more than a 100% increase in 2016, the number of newly established securitization vehicles in Malta is on the rise making Malta more and more attractive in the securitization market. Below are just some of the benefits of setting up this type of str ...

Early restructuring promotion as a new approach to insolvency in Europe

16th December 2016//News

European Commission proposes new approach to business insolvency in Europe: promoting early restructuring to support growth and protect jobs. The European Commission is for the first time presenting a set of European rules on business insolvency. ...

Russia and Hong Kong double tax treaty

12th December 2016//Tax

Russia and Hong Kong double tax treaty will apply from 1st January 2017 in Russia and from 1st April 2017 in Hong Kong. Treaty Benefits and Tax Incenti ...

New programme for highly-specialised Third-Country Nationals endorsed in Malta

9th December 2016//News

 The Initiative provides fast-tracked service to highly-specialised third-country nationals who would like to work in Malta. The scheme facilitate work/residence permits issued to prospective employees within five working days from the ...

New IP Box Regime Cyprus

7th December 2016//Tax

In accordance with the OECD BEPS Action 5, Cyprus has abolished the existing IP box scheme, with effect from 30 June 2016, with transitional rules applying until 30 June 2021 for companies already using the old scheme (appli ...

Changes in Tax for Investment Funds in Poland

2nd December 2016//Tax

  Currently all Polish investment funds – open-ended and closed-ended – as well as their equivalents from the EU and EEA have been fully exempt from Polish taxation on all types of profits derived in Pola ...

Overview on particular tax advantages of Cyprus companies

30th November 2016//Tax

 Cyprus is well established as a favourable jurisdiction in Europe for business structuring and international tax planning. By ensuring proper long-term oriented tax planning and structuring are optimised of the Cyp ...

Double Tax Treaty between Cyprus and Latvia

23rd November 2016//Tax

A Convention to avoid double taxation and the prevention of fiscal evasion with respect to taxes on income was signed in Brussels on the 24th of May 2016 and it is based on the OECD Model Convention for the Avoidance of Double Taxation on Inco ...

“Simple joint-stock company”, the most modern legal framework in the EU

17th November 2016//News

Slovakia will introduce new corporate form in 2017 which will be a very attractive investment vehicle that will introduce the most modern legal framework in the EU.

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