Jurisdictions news

21.12.2011 The EU states will provide 150 bln. euro to the euro zone
19 December 2011 the eurozone member states concluded an agreement on the allocation to the International Monetary Fund (IMF) 150 bln. to assist the countries of the zone affected by the crisis.

20.12.2011 Liechtenstein joined the Schengen zone
From 19 December 2011 the effect of the Schengen Agreement will apply to the Principality of Liechtenstein.

19.12.2011 Ukraine decriminalized the crimes in the sphere of economic activity
17 December 2011 the Law № 4025-VI "On Amendments to Certain Legislative Acts of Ukraine concerning the humanization of responsibility for violations in the sphere of economic activity" ("Voice of Ukraine", No. 239) was published in Ukraine.

16.12.2011 Norway has a shortage of in butter
At the moment Norway that is one of the prosperous Scandinavian countries with high level of economy has a big problem with selling such an ordinary product as butter.

15.12.2011 The EU expects Russia to hold new the State Duma elections
Yesterday at the plenary session of the European Parliament it was said that the recent 4th December 2011 Russian parliamentary elections had a huge number of different disorders.

15.12.2011 A plan to cancel visas for Russia has been drafted
The EU agreed to discuss with Russia the plan to abolish visa regime.

14.12.2011 Facebook ends its work
Recently the founder of Facebook Mark Zuckerberg has announced the decommissioning of the project.

13.12.2011 BVI continues to hold strong positions
Financial Stability Board has recently made a statement that the British Virgin Islands at the moment is a jurisdiction which fully meets international standards for cooperation and exchange of information between countries.

12.12.2011 A new tax can appear in Austria
During the plenary session of the National Council of Austria, issues of taxation were covered.

09.12.2011 The EU will launch a new mechanism of financial stability
In 2011 a lot of meetings of EU member states on the issues of crisis overcoming were held.

08.12.2011 Russia will have a new specialized court
In 2012 – 2013 the court system of Russia will be changed.

07.12.2011 Greek parliament introduces austerity regime
Recently the Greek Parliament has approved the state budget draft for 2012.

06.12.2011 Italy strengthens the internal politics
Recently Italy has strengthened its internal fiscal policies because of the crisis. The EU fully supported such step taken by the Italian Parliament on the 4th of December 2011.

05.12.2011 Guernsey will retain 0% corporate tax rate
Guernsey - one of the Normand Islands that are under the jurisdiction of the United Kingdom has recently confirmed the application of 0% corporate tax rate within its territory.

02.12.2011 The EU has set strict conditions for Ukraine
On the 1st of December 2011 the European Union adopted a resolution on the issues of cooperation possibility with Ukraine and its adoption to the EU.

01.12.2011 Cyprus is ready to increase VAT rate
Cyprus Ministry of Finance declared the necessity to increase VAT tax rate from 15% to 17%. The country's budget can’t cope with the repayment of external debt.

30.11.2011 Switzerland is in the process of four new tax agreements drafting
Soon to the Swiss Parliament four new projects of international agreements in the tax sphere should be submitted for approval.

29.11.2011 The project of a new tax introduction in the Russian Federation
Although there is no certain project of amendments to the Tax Code of the Russian Federation, officials of the country have already shared their opinions on the new kind of luxury tax introduction in Russia.

28.11.2011 Foreign banks can leave Cyprys
During the parliamentary debates Cyprus Minister of Finance declared the necessity of tax burden increase for foreign banks on the island.

25.11.2011 Ukraine is getting ready for reforms
A few days ago the Government of Ukraine declared its firm intention to introduce further effective measures to control the operations involving offshore companies.