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Jurisdictions news

18.05.2023 The Brazilian Tax Service pays attention to trusts

The Brazilian Government has published Interim Measure No. 1171/23 on the distribution of foreign trust assets. In fact, this measure changes the rules for taxation of income from foreign sources received by Brazilian residents from financial investments and controlled organizations.

15.05.2023 A new approach to supervision on the Isle of Man

The Isle of Man Financial Services Authority has published a document outlining a new approach to the supervision of the regulated financial sector based on risk assessment.

11.05.2023 Cyprus introduces zero VAT rate

The Cyprus Tax Department has announced the temporary application of a zero VAT rate on essential goods.

10.05.2023 Will Serbia adopt a bill to simplify immigration?

At the end of April, it became known that Serbia was going to simplify immigration to attract foreign workers.

05.05.2023 Real estate in Singapore will become more expensive

The Singapore government has doubled the rates of additional stamp duty on the purchase of real estate (additional buyer's stamp duty – "ABSD" - Approx.).

03.05.2023 First Republic Bank became JPMorgan

The American First Republic Bank was closed by the California Department of Financial Protection and Innovation, which appointed the US Federal Deposit Insurance Corporation (FDIC) as the manager

02.05.2023 It will become easier to get EU resident status

The EU plans to make it easier for residents of non-EU countries to move around the bloc and reduce the period of residence in an EU member state before obtaining the status of a long-term resident from five to three years.

27.04.2023 Saudi Arabia develops special economic benefits

The Department of Economic Cities and Special Zones of Saudi Arabia (ECZA) has issued a brochure on new special economic zones (SEZ), which specifies the following benefits for the SEZ "King Abdullah Economic City" (KAEC), SEZ "Ras Al-Khair" and SEZ "Jazan":

25.04.2023 Luxembourg is preparing a large-scale tax reform

The Government of Luxembourg has submitted a draft law on amendments to the rules governing tax procedures in the country.

20.04.2023 G24 calls for negotiations on international tax cooperation at the UN

On April 11, 2023, the Intergovernmental Group of Twenty-Four on International Monetary Affairs and Development (G24) published a communique covering various topics, including international tax reform.

14.04.2023 ENBD has frozen investment accounts

Emirates NBD, the second largest bank in the UAE, in accordance with the directive of the European Union, imposes restrictions on the investment assets of Russian clients located in Clearstream.

13.04.2023 UAE - Corporate tax exemption rules

The UAE Ministry of Finance has adopted Decision No. 43 on exemption from tax registration for the purposes of the Corporate Tax Law.

10.04.2023 The US Court banned the automatic accrual of fines

According to the decision of the US Tax Court, the US Internal Revenue Service (IRS) does not have the right to impose fines on taxpayers who have not submitted Form 5471 indicating their interests in foreign corporations.

06.04.2023 Brazil is changing its financial and monetary policy

The Central Bank of Brazil has announced the deadline for organizations to report on the receipt of foreign direct investment in 2023.

03.04.2023 The cheapest Citizenship by Investment Program

Vanuatu is launching a new option for obtaining citizenship through a bond loan in Australian dollars.

21.03.2023 UBS buys Credit Suisse

Swiss bank UBS is buying struggling Credit Suisse for 3 billion Swiss francs ($3.25 billion).

01.02.2023 EU members did not meet the deadline?

Fourteen EU member States have missed the official deadline set for the implementation of the provisions of Council Directive (EU) 2021/514 (DAC7) into national legislation.

10.08.2022 Central Bank of Cyprus` warning
The Central Bank of Cyprus (hereinafter referred to as the "CBC") has warned that the Limassol–based Sabax Bank has absolutely no license to operate issued by the supervisory authority.

23.06.2022 Turks will pay less
The Turkish government has submitted a bill on the introduction of new tax benefits for financial institutions operating in the Istanbul Financial Center (IFC).

28.10.2021 New FATF "grey List"
The Financial Action Task Force on Money Laundering (FATF) has announced that it is removing Mauritius and Botswana from its "grey list".


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