Tax reform in Croatia began in 2016 by amending 13 tax laws and 3 customs laws. The objectives of the reform were to strengthen the investment climate, to increase the disposable income of citizens and consequently to increase consumption through the increase of the non-taxable part of income, to reduce the tax burden on wages through new tax brackets and tax rates, through changes in the system of profit tax by introducing possibility of paying the lump sum tax and by applying the cash principle in calculating profit, and through changes in VAT system by increasing the threshold for entering in the VAT system and other changes.
Following the circular C264 from the Cyprus Securities and Exchange Commission on 20 April 2018, we have updated the Compliance Calendar of Cyprus Self-Managed AIFLNPs published in a previous article.
Since January of the current year the Foreigner and Border Control Service (SEF) have established some new rules regarding the proceeding of submission, instruction and approval of the Golden Visa requests – which will make the process faster and more straightforward.
The digital economy changes our interactions, shopping and business. Digital companies grow much faster than the economy in general, a trend that will continue. Digital technologies bring numerous benefits to society and, from the point of view of taxation, create opportunities for tax administrations and provide solutions for reducing administrative burdens, facilitating co-operation among tax authorities, as well as combating tax evasion.
Portugal is part of the European Union, the Euro Zone and the Schengen area, having, nowadays, a stable political and social environment, a secure society, and a fantastic quality of life.
In a globalized world, the adoption of proper tax avoidance prevention policies becomes every day harder and more complicated and affects tax authorities action plans that need to change according to tax planning strategies.
Greater understanding of the behavioral motive triggered by taxpayers in fulfilling or failing to meet their tax obligations can help the tax administration to adopt approaches that will increase voluntary compliance and which will improve the effectiveness of non-compliance activities.
Cryptocoins - or cryptocurrencies - are virtual trading tools that use blockchain and encryption technology to validate the operations performed. They are decentralized, independent, and stored in electronic addresses created for that purpose.
EU Directive on Administrative Cooperation n. 2016/2258 (so called DAC 5) amends Dir. (EU) n. 2011/16 and enables Member States Tax Authorities to access to anti-money-laundering (AML) information in order to detect the beneficial owner of a transaction in a multi-layer structure.
Danish law firm Kromann Reumert and the University of Copenhagen jointly host the annual Copenhagen EU Tax Law Conference in Denmark, on 21 September 2018.
We get a lot of queries from our EU clients and associates on how EU citizens can become Cyprus tax residents and what the process of obtaining a tax residency certificate is
Two important German tax law changes have been proposed by the German legislator that will have significant impact on the taxation of investors in German real estate. Also existing investment structures will be affected.
A number of tax administrations have long ago established systems or processes aimed at reducing administrative burdens imposed to taxpayers, especially obligations related to tax on labor, including automated reporting on payroll.
The Central Bank of Cyprus has communicated its intention to incorporate the definition of shell/letter box company in the forthcoming revision of the Directive for the Prevention of Money Laundering and Terrorist Financing.
On 25 April 2018, the Commission presented a package of proposals concerning the reform of EU company law (i.e. Proposal for a Directive of the European Parliament and of the Council amending Directive EU 2017/1132 as regards cross-border conversions, mergers and divisions).
Following the visit of the U.S. Department of the Treasury Assistant Secretary for Terrorist Financing Marshall Billingslea on 4 May 2018 to Cyprus, a number of things seem to have changed in Cyprus banking.
Last 18 May 2018 United Nations released the long-awaited 2017 update to the Model Double Taxation Convention between Developed and Developing Countries, during a UN Economic and Social Council meeting in New York.
Cyprus Self-Managed Alternative Investment Funds with Limited Number of Persons (AIFLNP) - Compliance Calendar Have you ever been in a situation where although you have the competency to perform a task you are unsure what the totality of the task might be? This situation can arise when numerous regulatory requirements are imposed on an organisation and further exacerbated by the almost exponential increase in the velocity of change of these requirements.
