June 2020: International Tax Planning Review
Russian-Cypriot negotiations to amend double tax treaty On 25 June 2020 Russia and Cyprus started negotiations on amendments to the Agreement for the avoidance of double taxation dated 5 December […]
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The Netherlands has introduced beneficial ownership register
On 23 June, 2020 the Parliament of the Netherlands has adopted a Law №35179 by which the centralized beneficial ownership register is established as required by EU Directive ЕС 2015/849.
Controlled Foreign Companies rules in the United Kingdom
Controlled Foreign Companies (CFC) rules are applicable to entities resident in foreign jurisdictions and controlled by UK residents. In some cases, CFC rules are also applicable to permanent establishments of
May 2020: International Tax Planning Review
Aggressive tax planning: the European Commission gives recommendations to six Member States The European Commission has issued recommendations to the EU Member States, six of which have been advised to
Several EU Member States have been warned of non-compliance with 5th Anti-Money Laundering Directive
The report on infringements of different EU acts committed by some Member States has been published on 14 May 2020 in the website of European Commission. Such infringements include non-compliance
United Kingdom: tax residency and domicile of individuals
One of the main features of taxation of private individuals in the UK is the specific approach to determination of tax relationship of an individual with the state. The regime
Seychelles has adopted centralized beneficial ownership register
On 5 March 2020 President and National Assembly of Seychelles have officially enacted Beneficial Ownership Act 2020 (the Act) which establishes centralized beneficial ownership registers with confidential regime of data
Cayman Islands, Panama and Seychelles added to the EU “blacklist”
18 February 2020 the European Commission has published an information about the regular update of the “blacklist” of non-cooperative jurisdictions for tax purposes. This time it was decided to list
EU warns several Member States of need to reform their anti-money laundering legislation
On 12 February 2020 the information that European Commission has sent formal written notices to some Member States warning on non-compliance of their national anti-money laundering and terrorist financing (AML/FT)
Cyprus: imposition of annual trade license fees in Limassol municipality
In December 2019 the Municipality of Limassol has published an information of imposition of annual trade license fees on legal entities in this region of Cyprus on its official website.