Jurisdictions news

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.

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. 

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