Yesterday, the International rating Agency Fitch, based on the rapid growth of the Latvian economy and the improvement of its investment climate, increased its credit ratings by one position in every criteria, changes are not made only for short-term rating. Thus, the attractiveness of Latvia in regard to investment in its economy grew.
Officially Cyprus has not excluded from the “black list” of the Ministry of Finance but Russian businessmen have already started to think about the consequences of such changes.
8 November, the Federal Tax Service of the Russian Federation has published on its official web-site the Order of the Federal Tax Service of Russia from 02.11.2012 №mm-7-3/829, approving the new forms of documents for the application of the simplified system of taxation. It will enter into force from 1 January 2013.
05 November 2012 the Cabinet of Ministers of Ukraine approved a new agreement with Cyprus on avoidance of double taxation. Sign the relevant documents authorized by the Minister of foreign Affairs Kostiantyn Hryshchenko.
The other day the Moscow city Duma adopted the Law «On the patent system of taxation». Itwill enter in to force on the 1st of January in 2013. The Law of the city of Moscow on October 29, 2008 № 52 "On the simplified taxation system based on a patent" that acts at the present time, has lost its force.
As it is known, the Cypriot banks suffered huge losses because of the restructuring of the Greek debt, in connection with which appealed to the government with a request for recapitalization. Due to the lack of money in the budget authorities turned for help to the European Union and the IMF in June of the current year.
On the 30th of October held a joint meeting of representatives of the Ministry of Finance of the Russian Federation, the Federal Tax Service of Russia, public organization «Business Russia» and Authorized by the President of the RussianFederation for the protection of the rights of entrepreneurs. At the joint meeting were summed up the intermediate results of the execution of the order of the President of the Russian Federation V.V. Putin «On tax accounting», given by him at the Congress of "Business Russia" in December of the last year.
The British Bank HSBC has been undergone serious sanctions by the United States. The Bank shall be obliged to pay 1.5 billion dollars for numerous serious violations revealed in the process of investigation in the summer of the current year.
Recently the Ministry of Commerce of China has issued a statement on the immediate carrying out of anti-dumping and countervailing duty investigation into imports of solar-grade polysilicon from the European Union (EU). A similar investigation was conducted by Chinese authorities in July in respect of imports from the USA and South Korea.
After the sensational case of deprivation Gudkov of the deputy's mandate because of the implementation of entrepreneurial activities and due to this carrying out the «informal» check of all the senators, the Federation Council decided to seriously deal with the question of assets safekeeping.
Today in the official publication of the Russian Federation has been published the order of the Ministry of Finance of the Russian Federation №115 dated August 21, 2012, by means of
which was changed the list of States and territories providing preferential tax treatment and (or) requiring disclosure and provision of information by the conducting financial transactions (offshore zones).
Two British Virgin companies MVK Investments and V.F.A. Investments focused on 33,7% shares of Donetsk private joint stock company "AVK". By the way, this company is one of the largest manufacturers of confectionery products in Ukraine, in whose membership other confectionery factories, located in Donetsk, Lugansk, Dnepropetrovsk and Mukachaevo, are included.
The Slovenian Government approved the draft «Tax on Financial Services Act». In accordance with this Act financial services, released currently from the VAT, and also services of insurance brokers and agents will be taxed.
At the present time in Germany there is a system of equal taxation among all Federal lands. It means that the income tax rate is the same in all lands irrespective of the level of life, the state of the labour market, as well as of the volume of financial flows to these lands.
Singapore and Jersey signed an Agreement on avoidance of double taxation. This agreement has not entered into force, as it is in the process of ratification in both countries.
Ssubstantial changes have been introduced in the corporate laws of the Netherlands, thanks to that the process of setting up a company with limited liability was substantially simplified.
A report of the international study group Tax Justice Network (TJN), dealing with the study of
issues connected with tax evasion and the withdrawal of funds in offshore zones, was published
on Saturday.
Hong Kong started to implement the first stage of the Basel III. With this purpose in the official
journal of Hong Kong were published special Banking Rules 2012 for the local financial organizations.
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