Micro News

Micro News

Thursday the 8th of May, 2018 is the day that Singapore and Brazil signed the bilateral Avoidance of Double Taxation Agreement (DTA) but also started discussions on a free trade agreement between Singapore and Argentina, Brazil, Paraguay, and Uruguay (see MERCOSUR). The oil, gas, infrastructure, real…


Russia & China Pledge New Military Ties

Russia and China take steps to make their military and political ties stronger while challenging U.S. interests on Middle East allies Syria and Iran among others. During the Shanghai Cooperation Organization (SCO) summit, Russian Defense Minister Sergey Shoigu highlighted the position of China in respect…


Contradicting the US Treasury’s report which did not mention any major trading partners as currency manipulators, a new tweet of US President Donald Trump has contradicted the report condemning Russia and China for devaluing their currencies while the US raised their interest rates. This is clearly…


The shortage of software engineers, cyber-security experts and specialists in blockchain in Japan’s cryptocurrency industry has played a vital role in the recent hack of USD $530 million in digital money, while Financial Regulators are pushing for tighter security. With 32 exchanges operating in Japan…


The EU proposal for digital tax focused on US tech companies gives rise to more problems to companies such as Facebook and others that pay lower tax rates by shifting earnings around Europe and have worldwide annual turnover above EUR €750 million (USD $924 million). Welcomed France, Germany, Italy,…


Does Cash Usage Rise or Fall?

According to Central Bankers in London, although many people use cards or mobile phones for their daily purchases, it seems that cash usage is still alive. On the other hand, the payments sector claims that there is no need to install any new ATM machines or bank branches because the use of cash is falling. BIS…


Violation of Tax Legislation

A written notice with details of the tax object both in Cyprus and abroad, of the taxpayer, his/hers spouse and unmarried children; can be demanded by the Commissioner of Taxation to be submitted duly, before legal steps are taken. Additionally, accounts and estimates might not be accepted, if not prepared…


Cyprus has been named among the seven EU Member states that engage in aggressive tax planning with the combination of specific tax rules in place, and the absence of anti-abuse rules, arguably allowing tax avoidance structures. Also, Cyprus is suggested to be exposed to corporate income tax revenue…


China: Skype disappearing from app stores

The latest action of China’s authorities in respect of efforts to increase scrutiny of internet applications and eventually protect personal privacy and prevent online terrorist activity, resulted in Skype disappearing from app stores such as the one of Apple Inc. and others. In this manner, the usual…



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