Jurisdictions news

03.12.2012 Austria saw the results of the reduction of corporate tax

Back in 2005, the Austrian government has reduced corporate tax rate from 34% to 25%. However, Australia makes the conclusions just now: Despite the low tax rate, according to Finance Minister Maria Fekter, tax revenues increased from 2005 to 2008. In 2005, this figure was EUR 5 billion, while in 2008 is already 6.3 billion euros.

30.11.2012 The new fiscal policy in the dependent territory of the UK

The United Kingdom is actively negotiating with its dependent territories, including the British Virgin Islands, about the possibility of a more thorough exchange of tax information. According to some reports, the British authorities are developing an act that would be similar to the U.S. law on fiscal compliance requirements for foreign accounts (Foreign Account Tax Compliance Act, or FATCA).

29.11.2012 Germany did not sign the DTA with Switzerland

The upper House of Parliament of Germany did not agree to sign tax agreement with Switzerland. The German government is not sure in the provisions that were offered by the Swiss side of the agreement.

28.11.2012 The research: is the British confidentiality profitable for Russian billionaires?

The British magazine Guardian in conjunction with the International Consortium of Investigative Journalists ICIJ created a project to study the secrets of doing business in offshore jurisdictions.

27.11.2012 Living in the UK will cost £ 2 million

If we do not take into account the education and work for hire, the only way to obtain a visa to stay in the UK is business immigration. For this visa a lot of Russian citizens are living currently in the UK.

26.11.2012 Triplet of creditors does not give money to Cyprus

The European Union (EU), the European Central Bank (ECB) and International Monetary Fund, the three main components of the international lenders, after difficult negotiations have not taken a final decision on the allocation of financial assistance for Cyprus. 

23.11.2012 EU summit did not come to an agreement on the budget 2014-2020

November 23 in Brussels EU summit ended, at which the Chair of the European Union, Herman Van Rompuy, said that before the start of next year will not be able to reach agreement on seven-year financial perspective for the EU 2014-2020. According to him, it is necessary to discuss additionally the long-term budget plan for the EU. 

22.11.2012 The procedure for obtaining a residence permit will be simplified in Spain

While the Spanish authorities have only confirmed its intention to simplify the procedure for obtaining a permit soon. The authorities are planning to make it possible to obtain a residence permit for foreigners by buying real estate worth more than 160,000 euros. 

21.11.2012 Changes in the regulation of transactions in foreign currency in Ukraine

November 19, 2012 Resolution of National Bank of Ukraine (NBU) № 475 of November 16, 2012 has entered into force, which makes two significant changes in the regulation of transactions in foreign currency: 

20.11.2012 The Addition to tax treaty between Russia and Switzerland entered into force

November 9, 2012 the Addition to the DTA between Russia and Switzerland came into force.. However the Addition will be applying from 1 January 2013. 

19.11.2012 New regime of holdings in Latvia

In December 2011, the Latvian Parliament adopted amendments to the law "On Corporate Income Tax", which will come into force from 1 January 2013. Since then Latvia will be able to compete with major holding powers such as Cyprus and Malta. 

15.11.2012 Latvia's credit ratings increase

14.11.2012 Cyprus is not in “black list” of Russia any more

14.11.2012 Cyprus is not in “black list” of Russia any more

13.11.2012 New forms of documents for the simplified system of taxation

12.11.2012 Ukraine has signed a new agreement with Cyprus

08.11.2012 Moscow city Duma adopted a Law on patent taxation

07.11.2012 Germany may refuse Cyprus in financial assistance

06.11.2012 «Business Russia» and the Federal Tax Service have agreed on steps aimed at the abolition of the overlapping and non-fundamental norms of tax accounting

05.11.2012 The HSBC Bank is fined by the US authorities to $ 1.5 billion