Micro News

Back in 2016, the Singapore IRAS has announced the introduction of territorial taxation has nothing to do with tax evasion. Pursuant to Article 10(1) of the agreement, Singapore imposes taxes only on the profit definitely or presumably gained inside Singapore. Unfortunately, unlike Hong Kong, which…


The negotiating parties have come a bit closer in their stance, but it turned out to be impossible to overcome all the points of dispute. The talks were arduous and slow, the media announced. What is the current status? The most disputable and extensive is the security issue. Turkey won’t yield on intervention…


How to define tax residency?

The following criteria should be applied to define tax residency: For private persons, tax residency is defined by living in a particular country for a period over 183 days annually. A decisive factor for incorporated companies is the main location of management and general control. Partnerships’…


Now the Government Committee discusses amendments to the law on banks’ right to take ownership of any Cyprus property recovered from defaulted clients. One of the provisions concerns the right to allow  the property for rent, maintain its due condition as well as making contributions to complete its…


Overseas banks are leaving Singapore

High rental rates and labour costs together with the on-going tightening of Singapore CB’s regulations have forced some overseas banks to close their Singapore branches and search for other Asian countries with more favourable conditions for conducting business. Among the first banks to do so were the…


It was hard to believe that Greek and Turkish parts could reach a compromise on the reunification-related issues. Today, a Geneva meeting that drew representatives of the United Nations, the EU and the IMF is coming to an end after two days of negotiations. The agenda includes the touchy themes, which…


The Cyprus branch of PrivatBank faced problems following the Ukraine branch nationalisation, which resulted in limiting the withdrawal amount for its depositors to EUR500 a day. In this respect, the Central Bank of Cyprus recommends to apply directly to the Ukrainian Central Bank for the details. The…



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