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18.12.2020 Cyprus Parliament approves tax breaks for foreigners
The Parliament of the Republic of Cyprus has approved a bill on granting tax benefits to foreign citizens. The document was developed by the Ministry of Finance of Cyprus. 

08.12.2020 Saxo Bank has published "shocking predictions" for 2021
Denmark's Saxo Bank has published its annual "shocking predictions", which mainly concern unlikely and underestimated events, but if they happen, they threaten to have a strong impact on financial markets.

07.12.2020 Denunciation of the Agreement with the Netherlands
The Ministry of Finance of the Russian Federation begins to denounce the agreement on the avoidance of a double taxation with the Netherlands.

04.12.2020 The US requires Switzerland to comply with FATCA
The Internal Revenue Service of the United States of America (IRS) sent a group request to Swiss banks that previously provided a customer information in accordance with the US Foreign Account Tax Compliance Act (FATCA), which indicated that it was also necessary to disclose all the details of customer accounts that were not provided at the time of the request. 

23.11.2020 New rules for issuing "golden passports" in Malta

The Government of Malta has developed and introduced new rules for granting citizenship to foreigners in exchange for investment. No more than 400 applicants per year will now be able to obtain citizenship.


11.11.2020 Introduction of a fixed income tax CFC in the Russian Federation

On November 9, 2020, the Federal Law was published, which amends Parts one and two of the Tax Code of the Russian Federation. The adopted amendments directly affected the issue of taxation of controlled foreign companies (hereinafter referred to as CFC).


09.11.2020 Russia and Luxembourg: changes in the tax agreement between the countries
On November 6, the protocol on amendments to the agreement on the avoidance of double taxation between the Russian Federation and Luxembourg was signed. 

03.11.2020 Iceland is excluded from the FATF grey list

On 23 October 2020, the Government of Iceland announced its removal from the FATF Grey List, which is a list of States under enhanced monitoring.


30.10.2020 In Russia increase Personal Income Tax rate
In the State Duma passed the first reading Draft law on raising taxes on the income of individuals with the current 13% to 15% on the income that exceeds 5 million rubles a year has passed. It is planned that this Draft law if it is accepted will start working from 1 January 2021. 

27.10.2020 The European Commission has launched an investigation into Cyprus and Malta
Last week, the European Commission began the investigation into Cyprus and Malta over citizenship for investment programs in the national economy. 

15.10.2020 New tax regime for CFC holders in Russia
The RF Ministry of Finance proposes to amend the Tax Code and establish a new tax regime for controlled foreign companies. On October 15, the executive body sent the proposed amendments to the Government.

01.10.2020 Expanding the access of the Federal Tax Service of the Russian Federation to banking secrecy
On the website of the Ministry of Finance of the Russian Federation, the project "Main directions of budget, tax and customs tariff policy for 2021 and the planning period 2022-2023" was posted, which was submitted to the State Duma on Wednesday, September 30.

22.09.2020 UK reforms Companies House
On September 18, the UK government announced plans to reform Companies House in an effort to curb fraud and increase the company's credibility in transactions.

15.09.2020 The Dutch government has published a tax plan for 2021
The Dutch Government has published a tax plan for 2021, including additional measures to stimulate the economic growth during the crisis. The previously announced reduction in the corporate tax rate will be canceled and the rate will remain at the same level - 25%. The freed up funds will help to strengthen the economy.

07.09.2020 "Golden Passports" of Cyprus
The Cypriot newspaper Politis has published a list of holders of "golden passports" who received citizenship of the Republic of Cyprus in exchange for investments in the period from 2008 to 2012. The publication included 34 citizens of the Russian Federation, Ukraine, and Syria in the list of persons with suspicious passports.

04.09.2020 Shareholders meetings will be held remotely in the Russian Federation
On September 1, 2020, the Ministry of Economic Development of the Russian Federation introduced a bill to the Federal Law “On Joint Stock Companies”. The amendments were developed according to the account of the continuing threat of the spread of coronavirus. If the Amendments are adopted, then joint stock companies will be able to hold meetings in a remote form.

20.08.2020 Information about integration of EU instruction against tax evasion
On August 19, 2020, the European Commission published the first report on the implementation of EU Directive 2016/1164 of 12 July 2016 (Council Directive (EU) 2016/1164 of 12 July 2016), which includes rules for the fight against tax evasion.

19.08.2020 The first cryptocurrency credit was issued in Russia

For the first time in Russia, a deal with digital assets was conducted – the first credit, secured by blockchain tokens, was issued.

14.08.2020 USA adopted some new measures countering money laundering
On August 14, 2020, the Internal Revenue Service and the US Treasury released amendments to the already published rules to combat tax base erosion and abuse of tax treaties.

13.08.2020 Russian Federation is planning to revise tax agreements

On August, 11, 2020 Deputy Prime-Minister of Russian Government announced a possible reconsider of Agreements for avoidance of double taxation with Switzerland and Hong-Kong. 



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News

12/18/2020 12:41:00

Cyprus Parliament approves tax breaks for foreigners

The Parliament of the Republic of Cyprus has approved a bill on granti ...

Read more

12/08/2020 12:43:00

Saxo Bank has published "shocking predictions" for 2021

Denmark's Saxo Bank has published its annual "shocking predictions", w ...

Read more

12/07/2020 12:39:00

Denunciation of the Agreement with the Netherlands

The Ministry of Finance of the Russian Federation begins to denounce t ...

Read more