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On December 30th last year, the Minister of Finance in Cyprus issued a Declaration regarding its Country-by-Country reporting standards. This legislation is currently administered by the powers conferred by Section…
Month: January 2017
Cyprus and Russia to suspend the implementation of Article 13 for the avoidance of double taxation
The Treasury in Cyprus announced last week that it had reached an agreement between Russia and Cyprus authorities for the effective suspension of the Protocol application for amending Article 13.…
Tatiana Cherkes has received the ACCA qualification
Tatiana Cherkes, our Accountant in Cyprus office, has taken her final exams to get ACCA qualifications and become a member of the Association of Chartered Certified Accountants. The certification requires…
EC launches VAT reform consultation
The EC has launched a consultation regarding reforms surrounding EU legislation governing VAT rates. The Commission aims to present a proposal for a new VAT Directive in the third quarter…
The Treasury Committee propels immediate delay to Making Tax Digital
The MPs say the programme initiated by HMRC ‘could be a disaster’ if implemented in such a short span without proper evaluation, and release a set of extensive recommendations Making…
Mauritius government publically repudiates tax haven status
Mauritius’s Financial Services Commission (FSC) has spoken out after an Oxfam policy paper gave the jurisdiction a tax haven label, which the Financial Services Promotion Agency (FSPA) has also publically…
Huge increase in UK VAT registrations following new regulation implementation
The HMRC in the UK has reportedly received a huge upsurge in online VAT registration applications in 2016, after the introduction to hold online shops accountable for unpaid VAT to…
Australian Tax Office to pass unpaid tax debts to credit agencies
As per new legislation recently announced by the government, the Australian Taxation Office (ATO), going forward, will be allowed to disclose any data regarding the tax debts of certain businesses…
HMRC lacks contingency plan for new online tax repayment system
The HMRC in the UK has boldly decided not to take any contingency measures with the Treasury in the event it should run into complications with the digitisation of the…