Jurisdictions news

01.07.2014 Switzerland is to change its tax system in order to please EU

The agreement on the business taxation was concluded between Switzerland and European Union today. The agreement shall end negotiations and discussions which have continued for almost 10 years.

30.06.2014 British Companies are asked to change Directors and to disclose information about persons in control of the company

British Government published the Bill changing the corporate legislation in the country.

27.06.2014 Georgia, Moldova and Ukraine signed Association Agreement with EU

Agreements between each of three countries and European Union were signed by European Council and by Presidents of Ukraine, Georgia and Moldova today in Brussels. Each agreement was the result of negotiations through out long years.

26.06.2014 Corporate regulation reform in Japan

10 steps for revitalization of Japanese economy were presented by the Prime Minister of the country. These measure are aiming for the reform of corporate relations in the country. There is the reform of corporate tax, which is planned to decrease to the 30%, amongst the steps.

25.06.2014 Canada is the most attractive jurisdiction for business

KPMG published results of the study named «Competitive Alternatives». This report is published biannually and consists of information about jurisdictions for doing business among countries of NAFTA, Europe and Asia.

23.06.2014 The number of companies at BVI is decreasing

Statistical report, published by Finance Service of British Virgin Islands, showed that the number of companies registered in the jurisdiction has decreased.

20.06.2014 Russian Revenue Service and Investigative Committee unite against business?

The meeting between the President of Russian Federation and the Head of Russian Revenue Service, M. Mishustin, was held on the 20^th of June, 2014. Mishustin told President about the work done in order to improve Service’s efficiency and to increase income from taxes into the federal budget.

19.06.2014 Dutch Corporate Tax Law is in contradiction with EU law provisions.

On the 12^th of June, 2014 European Court of Justice (ECJ) decided the SCA Group Holding BV and others, Case in accordance with prejudicial procedure. (Prejudicial procedure means that the request about the meaning of the relevant EU Law provision was made by the domestic Court to the ECJ).

18.06.2014 Course on deoffshorization of Russian economy continues

On the 18^th of July, 2014 the meeting of the Russian Government on the issue of reforming of national payment system was held.

17.06.2014 New Zealand joins FATCA

New Zealand concluded intergovernmental agreement with USA on joining FATCA.

16.06.2014 Taxations trends in Europe.

On the 16^th of June, 2014 European Commission published the report “Taxation trends in the European Union”. This report introduced information on main ways of development and changes in taxation in EU Member States, Norway and Iceland.

11.06.2014 European Commission investigates taxation schemes of Apple, Starbucks and Fiat Finance and Trade.

European Commision opened three investigations concerning the decisions made by tax services of Ireland, Holland and Luxembourg with regards to corporate tax paid accordingly by such corporations as Apple, Sturbucks and Fiat Finance and Trade. EC is going to see whether these decisions are in violation of EU rules on state aid.

10.06.2014 ECB introduced the negative deposit rate.

Unprecedented decisions were made at the meeting of European Central Bank on the 5^th of June, 2014.

09.06.2014 Great Britain is going to limit the use of trusts.

Her Majesty Revenue Service (HMRS) has earlier introduced two documents in order to simplify taxation system for inheritance tax from trust property.  

06.06.2014 Cyprus is to toughen its tax system in order to get the third tranche.

Cypriot government introduced bill that shall open the third tranche in amount of 10 billion euro for the country from international troika of creditors (European Commission, ECB, IMF).

05.06.2014 Decrease of corporate tax in Spain

Prime Minister of Spain, M. Rajoy, said that the last 12 month were turn changing for the Spanish economy. Perspectives of the growth and positive changes in job market can be noticed.

04.06.2014 Lithuania joins Euro zone

On the 4^th of June European Commission published report on Lithuania, in which it gave its opinion on the state’s ability to join Euro zone.

03.06.2014 Joint session of SK and FNS: the fight is still there.

he work results of 2013 and of the first 4 months of 2014 were summed up at joint session of Investigative Committee (SK RF) and Federal Revenue Service (FNS).

02.06.2014 Decrease of PIT in European Union

Commissioner for taxation, A. Šemeta, stressed the need of decrease of PIT rates in European Union.

30.05.2014 List of financial institutions that submit client information to IRS of USA

Revenue Service of USA for the first time published full list of financial institutions, which follow FATCA rules. All financial institutions that must submit account information to U.S. IRS are on the list.

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