Jurisdictions news

30.08.2016 Illegal tax benefits for Apple in Ireland

The European Commission decided that Ireland has provided to illegal tax benefits the company Apple in the amount of £ 13 million.

24.08.2016 Bahamas will join the exchange of information

By the end of September 2016, the Bahamas intends to sign the law and the Directive on the automatic exchange of information in accordance with OECD Common Recording standard.

19.08.2016 Rules on disclosure of information on the beneficial owners in Russia will be stricter

The rule on the obligation of legal entities of all legal forms to disclosure on beneficial owners and to take measures to obtain this information was introduced by amendments to the Federal Law № 215-FZ "On combating Money laundering and the financing terrorism" of 23 June 2016.

08.08.2016 Canada joins the exchange of information

Department of Finance in Canada released budget proposal for 2016.

29.07.2016 Now Panama signs a tax agreement

26.07.2016 G20 has engaged in drawing up a blacklist

By summer 2017 G20 is planning to draw up a blacklist of states, not participating in the Automatic Exchange of Information.

18.07.2016 Russia introduced to Google tax

The Federal Tax Service of Russia will create a service for foreign companies, who will have to pay VAT at the rate of 18% since January 1, 2017.

11.07.2016 Jersey and Cyprus have signed a tax agreement

Jersey has signed a Double Taxation Agreement (DTA) with the Republic of Cyprus. It is the Island’s twelfth tax agreement to the international standard.

08.07.2016 The Bill of the Cayman Islands on Information Disclosure

The Legislative Assembly of the Cayman Islands received a Bill repealing the law on confidential relations.

07.07.2016 The Cypriots stand for abolishment of sanctions against Russia

In June four Italian regional parliaments, as well as the Senate of France approved resolutions about the abolishment of sanctions against Russia.

05.07.2016 Companies in the Bermudas as in Delaware State

Dr. The Hon. E. Grant Gibbons, Minister of Economic Development in the Bermudas, 1^st June held negotiations for the enactment of Limited Liability Company Act 2016. The Act regulates creation of the first commercial structure in the Bermudas in more than 100 years.

01.07.2016 Slovakia has taken over the baton of the Presidency of the Council of the EU

July 1 Slovakia took over the baton of the Presidency of the Council of the European Union, one of the most important EU institutions.

30.06.2016 Russia’s tax agency will publish publicly available information by July, 2017

June 1 2016 Federal Act № 134-FZ «About the amendments in Article 102, Part 1 of the Tax Code of the Russian Federation» entered into force.

28.06.2016 Since July 1 the banknotes of Belarus will be renewed: «four zeros» will be removed

July 1 revaluation in proportion 10000:1 will be held in Belarus. Thus the currency of Belarus will lose four zeros: 10 000 «old» Belarusian rubles will equal to one «new» ruble.

22.06.2016 Russian citizens without a residence permit will be able to receive medical services at the place of residence

On June 22 representatives of federal ministries and agencies at the working session in the Presidential Council on Civil Society and Human Rights discussed the possibility of providing public services for those citizens who can’t register their place of residence.

07.06.2016 Alterations in the procedure of getting «Blue Card» for highly-qualified migrants
European Commission has taken an Action Plan to support the integration of third countries’ citizens and their economical and social impact on the European Union, as well as to reform the rules of the «Blue Card» for highly-qualified workers coming to the European Union.

06.06.2016 The Republic of Singapore and the French Republic have entered into a tax Convention
The Republic of Singapore has concluded the Convention for the avoidance of double taxation with the French Republic.

03.06.2016 Hong Kong imposes extra deduction of interest payable on money borrowed by a corporation

Hong Kong’s Government has gazetted Inland Revenue (Amendment) (No. 2) Ordinance 2016, which enables the deduction of interest payable on money borrowed by a corporation registered in Hong Kong and carrying an intra-group business. 

02.06.2016 Great Britain switches to plastic notes

Bank of Great Britain Governor has introduced the first plastic note in the state.

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. 

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