Jurisdictions news

07.11.2011 "Big Twenty" discussed the problems of the banking sector
At the beginning of November current year the summit of "big twenty" which discussed the urgent problems of European countries in crisis took place.

03.11.2011 Labuan is drafting programs to stimulate capital flows to the country's oil and gas sector
Low tax jurisdiction Labuan runs incentive programs to attract investment in oil and gas sector. One of the authorities of the state financial bodies pointed out that for many years this raw material sector has been contributing significantly to the economy of the state and is about 20% of GDP throughout Malaysia.

02.11.2011 Luxemburg can become a real alternative to Cyprus
Recently Luxemburg Deputy Prime Minister and Foreign Affairs Minister have come to visit Moscow to discuss the further fruitful cooperation between the two states.

01.11.2011 FATF has excluded Ukraine from its “black list”
On the 27th of October the current year at the meeting of international organization Financial Action Task Force – FATF – Ukraine was excluded from the “black list”; its thorough monitoring and careful watching for Ukraine legislation and its application were stopped.

31.10.2011 Tax agreement between Greece and Switzerland is being discussed now
Recently the officials of Greece and Switzerland have discussed the issue on signing an agreement in tax sphere.

28.10.2011 The united state register of securities is made up in Ukraine
Recently Ukraine has approved the project of state register of securities.

27.10.2011 European banks are drafting recapitalization plans
In the framework of Wednesday summit of states-members of EU the exact figures concerning European banks recapitalization were announced. 106,447 bln. euro are necessary to such credit organizations to cope with negative crisis effect.

26.10.2011 Agreement in tax sphere between Netherlands and Hong Kong has come into force
Signed in March 2010 double taxation avoidance agreement between Hong Kong and Netherlands came into force on the 24th of October current year.

25.10.2011 Netherlands introduces tax breaks in 2012
Dutch State Secretary for Finance declared that companies that did their business in innovative developments sphere would get certain tax breaks in 2012. Such a measure is introduced as the state support and incentive in innovative field.

24.10.2011 Labuan is improving economic indicators
The Chief Executive has declared that Labuan is increasing its attractiveness as a financial business center.

21.10.2011 Greece will receive another tranche
At the beginning of November current year Greece again must be provided with financial assistance in the amount of USD 8bln. The creditor as earlier is the "big three" - the IMF, the EU and the ECB.

20.10.2011 In Russia VAT is not imposed on outsourcing services rendered by foreign companies
Quite often organizations registered in Russia use in doing its business outsourcing services provided by both foreign and Russian companies.

19.10.2011 Netherlands and Russia are moving to a new stage of cooperation
Today the Prime Minister of the Netherlands has come to Moscow with a visit. The purpose of the trip is to strengthen economic and trade relations between the powers.

18.10.2011 Irish economics is improving
In comparison with other countries affected by the crisis (e.g. Spain, Italy) Ireland has significantly improved its economic situation.

17.10.2011 EU needs to hold legislative reforms
Recently the ECB President declared about the necessity of changes in existing legislation of the European Union.

14.10.2011 Andorra changes taxation
Recently the head of the Andorran government has confirmed the plan of taxation change of the state.

13.10.2011 Tax information exchange agreement (TIEA) between Canada and St. Vincent and the Grenadines has entered into force
TIEA between Canada and St. Vincent and the Grenadines that was concluded last year (22 June 2010) cane into force on 4 October 2011.

12.10.2011 Can Russia play the role of a saver?
Today officials confidently declare that if necessary Russia is ready to assist Europe to solve urgent problems connected with the debt crisis way out.

11.10.2011 Rescue Plan for European banks.
At the moment the plan of recapitalization of banks in Europe as a means of crisis overcoming in the euro zone is being developed.

10.10.2011 British banks rate has noticeably declined
Recently the rate of several leading British banks (Lloyds TSB Bank, Royal Bank of Scotland, Santander UK, Co-Operative Bank, Nationwide Building Society and other smaller ones) has significantly declined.