Jurisdictions news

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.

17.02.2015 British Columbia directs all efforts to alleviate the tax burden of the media industry in Canada

The budget of British Columbia, one of the states of Canada, for 2015 contains very attractive provisions about tax credits for small businesses and companies operating in the media and resource extraction spheres.

13.02.2015 The European Parliament will have a hand in examination of national systems of taxation in the European Union

The European Parliament (EU Parliament) on its plenary session has discussed the struggle of the European Commission (EC) against tax evasion realized by multinational corporations.

12.02.2015 The International Monetary Fund will allot money to Ukraine on tax reforms

The International Monetary Fund (IMF) announced about understanding on additional financing of tax reforms, which will take place in Ukraine.

09.02.2015 The countries of EFTA and Georgia are considering the possibility of free trade between the states

The second meeting of the joint committee, where the delegations of EFTA countries and Georgia were present, took place in Tbilisi.

06.02.2015 Switzerland and Liechtenstein renew tax relations

The negotiations between Switzerland and Liechtenstein on the question of the signing of a new double taxation agreement (DTA) are over.

05.02.2015 EurAsEC has ceased to exist

The President has signed the Federal law “On Ratification of the Agreement on Termination of Activities of the Eurasian Economic Community (EurAsEC)”.

04.02.2015 Surprises in the USA 2016 budget

The President of the United States of America proposed a tax on the foreign incomes of American companies. This suggestion became fairly unexpected for the American business. 

03.02.2015 The European Commission has reached tax system of Belgium

The European Commission has started comprehensive examination of Belgium tax legislation, which allowed groups of companies severely reduce their tax burden in Belgium.

02.02.2015 Ireland announced the tax amnesty

The Ireland tax authority has explained that the Finance Act 2014 offers the taxpayers, engaged in so-called tax avoidance schemes, an opportunity of an amnesty. 

30.01.2015 The Central Bank of the Russian Federation has reduced the key rate

On 30^th of January 2015 Board of Directors of the Central Bank of the Russian Federation made a decision to lower the key rate from 17 to 15 %, taking into account changes in the balance between risks of higher consumer prices and cooling of economy.  

29.01.2015 Hong Kong and Singapore take the lead over the whole planet

As it was twenty years ago Hong Kong has taken the first place at rating of The Heritage Foundation's Index of Economic Freedom, which determines the most natural and free economics of the world.  

27.01.2015 It will be impossible to use EU countries for tax schemes?

The Council of the European Union has adopted the amendments to the Directive on parent-subsidiary companies that are aimed at the prevention of the tax avoidance and aggressive corporate tax planning. 

26.01.2015 The reduction of Russia's investment rating

The Standard&Poor’s rating agency has lowered the sovereign rating of Russia from the investment BBB- to speculative BB+, with “negative” forecast. 

23.01.2015 New form of company in Luxembourg

The government of Luxembourg submitted a bill number 6777, which brings changes to the law of the Grand Duchy “On commercial companies” of 1915. 

22.01.2015 Great Britain and Scotland are dividing tax competence

The British government has promulgated the project of legislative provisions, which will provide the Scottish government with competence on matters of income tax, air transport levy and obsolete equipment tax. This legislative leadership clarifies regulation of VAT-revenue distribution between the governments of Great Britain and Scotland. 

15.01.2015 Swiss franc’s free flight

The Swiss National Bank announced the discontinuation of minimum exchange rate of CHF to Euro, which until today used to be fixed at 1:1,2. 

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