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 Poland.
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 for the Safety of Life at Sea (SOLAS) or the Passenger Yacht Code (PYC).
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 Cyprus Government in an effort to boost the competitiveness of the newly launched Cyprus Non-Domicile Scheme has recently proceeded to also amend the criteria that need to be satisfied by any individual who wishes to become a Cyprus tax resident.
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.
There were changes to the Malta Residence and Visa Programme as per Legal Notice 189 of 2017 as below:
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 avoidance by multinational companies.
On the 3rd of May 2017 Cyprus signed double tax treaty with Barbados.
The treaty, based on the OECD model treaty, provides for the following maximum withholding tax rates on dividends, interest and royalty payments: