Micro News

Voters reject corporate tax cuts

The Swiss government's plans to reform the corporation tax system have been rejected in a public referendum. The reforms aimed to introduce new measures in order to maintain Switzerland as an attractive location, despite the abolition of existing preferential tax rates for multinationals. The abolition…


Cyprus Law allows for the transferal of ownership rights for real estate with the reserved right for its lifetime use (dwelling). Traditionally, this right is exercised by elderly parents, who grant their real estate to children and still have a dwelling right, thus avoiding an inheritance duties. It…


Cyprus has recently adopted new legislation that suggests that overdue property tax, defence contributions and corporate tax can be settled in instalments.   Debts of over EUR100,000 may be paid within 60 months; smaller amounts can be deferred for up to 54 months. In addition, the Cyprus tax department…


Pursuant to European anti-money laundering regulations, amounts up to EUR10,000 can be brought into Cyprus without being declared. Sums that exceed the above value are subject to customs declaration. Certain limitations with respect to the transportation of cash, gold and easily-sold goods are expected…


Each and every Singapore offshore company is obliged to submit an annual statement that reflects the information on everything concerning the company’s activity and its structure (Shareholders, Directors, equity, etc.). Non-compliance with the requirements on due annual reporting entails fines levied…


Mutual ownership of a land plot in Cyprus imposes certain limits on its disposal. In particular, this concerns the authorisation of owners to use or isolate the land. Other owners tend to refuse from signing any alienation documents, thus reducing the selling and purchase deal to null and urging the…


Singapore offshore companies are obliged to submit two annual reports - Estimated Chargeable Income and a Form C or CS tax statement. ECI must be submitted within 3 months upon the end of a Singapore company’s financial year. If they do not receive the report in due time, Singapore tax authorities calculate…


Despite the “conventional wisdom” of corporate rights amateurs, Shareholders have limited points of leverage in terms of offshore company management. They can interfere with business matters only through Shareholders’ meetings, either scheduled (annual) or extraordinary, and decide on the dismissal or…



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