Jurisdictions news

01.06.2016 Switzerland will freeze illicitly acquired assets

June 1 the Foreign Illicit Assets Act will come into force. The law will cover the issues of freezing, appropriation and restitution of illicitly acquired assets. 

26.05.2016 Audit of Latvian banks comes to an end

During almost all spring period Latvian banks have been subject to numerous audits both by international organizations and the public authorities.

04.02.2016 Trans-Pacific Partnership Agreement was signed

Trans-Pacific Partnership (TPP) Agreement was sighed at the meeting of TTP Ministers in Auckland, New Zealand.

02.02.2016 The Federal Tax Service of Russia approved the "black list"

The Federal Tax Service of Russia has published a list of jurisdictions that don’t exchange information for tax purposes with the Russian Federation.

27.01.2016 31 countries joined the automatic exchange of information

Today 31 countries signed the Multilateral Competent Authority Agreement (MCAA) to raise the transparence of cross-border cooperation on tax matters.

15.04.2015 Mass media have blown about the taxation of individuals’ currency exchange operations

After the participation of the Prime Minister Dmitry Medvedev in the board meeting of the Russian Finance Ministry on 14 April 2015 with the proposition of further development of questions related to the practical application of norms on the taxation of incomes from the currency trade operations mass media started to spam with various unfounded information.

14.04.2015 International trade volumes are far from perfect

WTO Director-General Roberto Azevêdo has held a speech on the tendencies of the international trade development.

10.04.2015 Italy will not increase taxes for 3 years

Italian Council of Ministers has approved the country’s Economic and Financial Document (DEF), which supplements its 2015 Budget Law.

08.04.2015 Canada cares about taxpayers

On the 8 of April as a part of support of small and medium-sized businesses policy, carried by the Canada Revenue Agency, the Minister of National Revenue – Kerry-Lynne D.

03.04.2015 Everyone can contribute to the rules about CFC

On the 3 of April an OECD project document on the strengthening of rules about controlled foreign corporations was presented for the public discussion within the action plan on BEPS.

02.04.2015 The legislative framework for the reform of corporate taxation is ready in Switzerland

Swiss Federal Council announced that the third package of legislative proposals for the reform of corporate taxation in the country is almost ready.

01.04.2015 ABLV Bank now accepts 5 more currencies

Since the 1 of April ABLV Bank accepts payments in 5 more foreign currencies - the Armenian dram (AMD), Georgian lari (GEL), Hong Kong dollar (HKD), the Turkish lira (TRY), Thai baht (THB).

30.03.2015 The economy of Luxembourg won through the global crisis

According to the OECD estimations the economy of Luxembourg has passed the global economic crisis quite well, although the Government can still make a number of steps towards economic diversification and strengthening of the financial sector.

16.03.2015 OECD surveilles the compliance with the international standards for exchange of tax information

The OECD Global Forum on Transparency and Exchange of Information for Tax Purposes presented 9 new reports on estimation of international progress in implementation of the unified standard for exchange of tax information.

13.03.2015 New Zealand awaits tax modernization

New Zealand Minister of Revenue proposed a governmental program on the tax policy for 2015-2016, whose leading motif is the modernization of tax authorities.

11.03.2015 ECB buys up the assets of Eurozone countries

European Central Bank (ECB) started to directly buy up Eurozone countries’ bonds and other securities.

02.03.2015 Notification about CFC may be postponed

According to the source of the newspaper “Vedomosti” lodgment date of an application of notification about Controlled Foreign Companies may be adjourned for the 1^st of September.

26.02.2015 OECD commended Latvian economy

The Latvian economy is one of the fastest growing ones in Eurozone. This is a conclusion of researchers, who prepared an Economic Report on Latvia for OECD.

25.02.2015 Tax reliefs in the new Hong Kong budget

Within the new Hong Kong 2015-2016 budget were introduced a number of measures, which are designed to reduce the tax burden and maintain economic stability.

19.02.2015 UK simplifies financial statements

Following the decision of the British Government to implement the EU Accounting Directive the United Kingdom Financial Reporting Council (FRC) has issued its proposals on the amendments of accounting standards.

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