Tax and accounting regulations

Taxation:

  • Corporate income tax rate is 25%.
  • VAT Tax: based on the value added part of the products and applied to trading and manufacturing businesses. The rate is 10%.
  • Reporting Requirements: a monthly tax report is required to be submitted to the relevant tax authorities.

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Challenges of Our Time: Cryptocurrencies & Their Regulation

Challenges of Our Time: Cryptocurrencies & Their Regulation

The very concept of cryptocurrencies derives from technologies and the creation of alternatives to existing payment systems, which for the most part is caused by the negative consequences of financial crises and the injustice within the sphere of financial and legal regulation. Many people are convinced that the cryptocurrency is likely to become an alternative to the established global financial system and open new opportunities to those segments of the population and citizens of those countries that are deprived of the opportunity to work with the banking financial system.

The Tax System in Poland: Benefits & Overview

The Tax System in Poland: Benefits & Overview

The tax system in Poland is one of the most loyal for both large and small businesses in the country. There are two levels in the system that relate not only to residents of Poland, but also to foreigners. The Polish tax system consists of administrative taxes (duties are paid directly to state bodies) and local taxes (the process is similar to the previous type). Therefore, Poland is one of the European countries with a stable economic position, whose attractive system attracts citizens from neighbouring countries to conduct business within the country. It is the Polish taxation system that is advantageous for businessmen willing to enter the international market.

The reasons of abolition of the Company Secretary in UK Private Companies

The reasons of abolition of the Company Secretary in UK Private Companies

The role of Corporate Secretary can be a position in a private sector company or within the public sector organisation. In large, publicly-listed corporations, a Company Secretary is typically named a Corporate Secretary or just a Secretary. The Company Secretary is responsible for the efficient administration of a company, particularly with regards to ensuring compliance with statutory and regulatory requirements and also for ensuring that decisions of the board of directors are implemented.

The Dematerialisation of Shares in the UK: Current Update & Assessment

The Dematerialisation of Shares in the UK: Current Update & Assessment

Business is an area that is continuously developing. An integral part of both business and economics are companies. It is possible to say that companies dictate the conditions of the market to a certain extent. Any public or private company has its own shares; a share is a security that provides a portion of ownership of the company and gives the holder the right to a part of the profits.

Current Information on the Payment of Cyprus Taxes for Pensions & Rental Income

Current Information on the Payment of Cyprus Taxes for Pensions & Rental Income

Cyprus employees who are considered to have tax resident status, pay tax on their global income. Employees not considered to be tax resident are only charged for specific types of income that are originating from Cyprus-based sources.

Contrary to the Bearish Trend: How Tether Gained a Place in the CoinMarketCap Top 10

Contrary to the Bearish Trend: How Tether Gained a Place in the CoinMarketCap Top 10

Tether Ltd, the issuer of Stablecoin, a type of cryptocurrency under the ticker USDT, has been hotly debated for the past year. Many representatives within the crypto-community suspect the issuer of the "tokenised dollar" regarding the insufficient supply of the currency, as well as the regular "quantitative easing" of the market during periods of recession.

Current Information on the Payment of Cyprus Income Tax

Current Information on the Payment of Cyprus Income Tax

An individual is considered to be tax resident in Cyprus by spending a total (consecutive or otherwise) of 183 days or more in any one calendar year in Cyprus. Anyone earning an income in Cyprus falls into two categories:

UK Company Law: The Doctrine of Lifting the Corporate Veil

UK Company Law: The Doctrine of Lifting the Corporate Veil

One of the main advantages of forming a legal entity is to limit the liability of the members of the company. However, in some circumstances, legal entities can be disregarded. This process is known as piercing the corporate veil and is the most common method for shareholders to take responsibility for the actions of the corporation.