Knowledge base

Cyprus Interest and Royalties

No withholding tax applies on interest and royalties when paid from a Russian Company to a Cypriot company. This was ratified on the Protocol and signed by Russia and Cyprus during 2012 and implemented in 2013. According to the Protocol the current withholding taxes will continue to apply 0% to interest…


Information for Cyprus companies and service providers from CySEC.

The Cyprus Securities and Exchange Commission has recently released information to all Cyprus Investment Firms, Management Companies and Administrative Service Providers regarding fraudulent tax evasion, and also a proposal on the prevention of use of the financial system for the purpose of money laundering…


Setting up funds in Cyprus

Undertakings for Collective Investment in Transferable Securities UCITS is a pan-European Fund product which when established in one EU country can be sold cross boarder within the EU under a harmonised legislative framework without any requirement for additional authorisation. UCITS is the result of…


XBRL filing in Singapore

Since 1 November 2007, companies in Singapore are required to file financial statements with ACRA, and filing financial statements in XBRL. With effect from 3 March 2014, the revised XBRL filing requirements under the BizFinx system apply. What is XBRL filing? XBRL stands for Extensible Business Reporting…


Voluntary wind up of a Cyprus company

Cyprus Company Law provides for a member led voluntary winding up of a company. In order for this to occur the company must be solvent. The voluntary winding up of a Cyprus company is formalised in Article 261 – 292 of the Cyprus Companies Law. Below is a summary of the processes involved in the voluntary…


International Trusts in Cyprus

Cyprus is a favourable jurisdiction for creating international trusts which are governed by the 1992 International Trusts Law which regulates the establishment and administration of International Trusts. The International Trust Law compliments the Trustee Law which is based on the English Trustee Act…


Obtaining an EPass and EntrePass in Singapore

EMPLOYMENT PASS The Ministry of Manpower (MOM) requires foreign highly skilled professionals, Managers, Executives, specialists or entrepreneurs who wish to work in Singapore need an Employment Pass to commence employment. To be considered for an Employment Pass, you must have a fixed monthly salary…


GST Registration in Singapore

Dear Sir, We have received a letter from IRAS dated xx month xxxx asking your company to register for GST as your turnover has crossed the S$1million mark. What is GST? Goods and Services Tax is a tax on the supply of goods and services made in Singapore by a taxable person in the course or furtherance…


The Singapore budget 2014

For all businesses: This year’s budget did not emphasise on significant tax changes. The government wants to restructure the Singapore economy to achieve quality growth. Businesses that make investments in productivity to save manpower or achieve innovative breakthroughs will be actively supported by…


Estimated Chargeable Income (ECI)

What is ECI? ECI means Estimated Chargeable Income. It is an estimate of a Singapore company’s chargeable income for the given Year of Assessment (YA). The amount of ECI declared is based on the amount before the deduction of any exempt amounts under the partial tax exemption or tax exemption schemes…