Taxation of capital gains between Cyprus and RussiaThe 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.
Monthly instalments payments scheme for overdue taxes CyprusThe 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.
Creditreform assigns A+ rating to MaltaGerman 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.
Switzerland prepares to vote on corporate tax unificationSwiss 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.
Solution to online transactions fraudsAccording 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.
Tax changes in Bulgaria in 2017There are following changes with regard to taxes in Bulgaria in 2017:
The Netherlands 30% – tax rulingThe 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 ‘extraterritorial employees’.
Securitization: Why Malta?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 structure on our sunny island. Seruritisation: Why Malta?
Early restructuring promotion as a new approach to insolvency in EuropeEuropean 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 treatyRussia and Hong Kong double tax treaty will apply from 1st January 2017 in Russia and from 1st April 2017 in Hong Kong.
New programme for highly-specialised Third-Country Nationals endorsed in Malta 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 application submission.
New IP Box Regime CyprusIn 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 (applicable with restrictions).
Changes in Tax for Investment Funds in PolandCurrently 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 Poland.
Overview on particular tax advantages of Cyprus companies
Double Tax Treaty between Cyprus and LatviaA 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 Income and Capital. The Treaty enters into force as of 1st of January 2017.