Micro News

Micro News

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,…


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…


The employment sector in Singapore has changed dramatically since 1998 and in particular, in three main ways as more people are now freelancers, part-time or temporary workers, the employee turnover is much higher and more people decide to make mid-career switches. Specifically, while Singapore has…


The lower tax exemptions in the Budget 2018, will have ‘minimal’ impact on startups, as those will turn profitable till the time the tax change will take effect, and there are also other Govermental initiatives and grants for the support of these kinds of businesses. Simply, most of the startups in…


Focusing on keeping the Cyprus legislation in accordance with the EU Directive on restrictions on payment in cash, the House of Legal Affairs committee decided to set a €10,000 limit in circumstances of cash purchase of vehicles, precious stones and metals, works of art and antiques. This is due to…



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