Micro News

Micro News

The  UK court has struck out a breach of trust claim brought against a Swiss trustee corporation by the beneficiaries from Australian state of Victoria. The South African beneficiary sought recovery of large sums paid by the trustees to the settlor, who was the claimant's father. The matter turned in…


According to the Eurostat report, the main recipients of Cypriot citizenship in 2017 were Russians, about 1315 of whom received passports under the naturalisation programme. The Russians are followed by British citizens (502 people) and then Ukrainians (481 people). It is reported that in 2017, about…


The US Senate officially ratified the long-awaited amendments to several important tax treaties, in particular, the DTA agreement 2013 with Spain. In accordance with this agreement, there is a general exemption from withholding tax on cross-border interest, royalties and many dividends, as well as for…


India & China Are Against Treaty Shopping

An amendment to the 1994 double taxation treaty between China and India has recently come into force. This document states that the terms of the DTA are not intended to create treaty shopping opportunities and that the taxpayer's residency status is assigned depending on the place of effective management.  


Nowadays, 90 countries are continually exchanging information on more than 45 million bank accounts. According to the results of research conducted by the OECD, this exchange affects the size of deposits in banks that are in tax havens. Financial experts state that banks are faced with a decline in…


The UK requires the local authorities of the British Virgin Islands to create public registers, which will disclose information about the owners of the registered companies, by 2023. By the way, now these registers have already existed but a limited circle of people has access to them. The BVIs were…


From January 1st, 2020, the Russian Federal Tax Service plans to exclude Panama and San Marino from the list of countries with which Russia hasn't exchanged information for tax purposes. This project was considered earlier in 2019 but wasn't adopted. Such information is placed on the official website…


Loi Pacte, which came into force in May, is a new regulatory legal framework for digital assets in France, both for initial coin offering (ICO) and for the activities of digital asset service providers (DASP). Depending on the type of service provided, DASPs will have to obtain an additional license…


The UK government announced its intention to introduce a new strategy to combat economic crime. Particular attention will be paid to such crimes as fraud, money laundering, bribery and corruption. Also, the amendments concerning suspicious activity reports, measures to prevent the use of cryptoactive…



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