Micro News

Micro News

Russian news agency TASS reported last week that the biggest increase in Russian credit card transactions abroad this summer compared to last year will be observed in Cyprus, Georgia and Tunisia and according to global credit card payment system Visa. Russian card spending may increase by as much as…


The due dates for existing registered entities in various British Overseas Territories have been released, to conform to new economic substance legislation enactments towards the end of this current month (June 2019); in the following British Sovereign Base Areas: Bermuda. the British Virgin Islands. the…


Last week, the New Zealand government announced that the administration are going forward with proposals that will apply a 2-3% turnover tax to New Zealand Multinationals providing digitalised apps and services. The companies affected are the likes of tech companies Google, Facebook and eBay; including…


Cyprus MPs Disagree Over Russian Arms Embargo

The Eastern Mediterranean Security & Energy Partnership Act of 2019 has been tabled to the US Congress by Democratic Senators Marco Rubio and Mr Robert Menendez provides for the lifting of the weapons and arms embargo, to allow for the creation of a US Eastern Mediterranean Energy Centre to facilitate…


Cyprus Signs Double Tax Treaty with Kazakhstan

This week, Cyprus and Kazakhstan have officially signed and concluded the terms of their double taxation agreement. The DTT provides a standard tax rate for cross-border interest, including defining the treatment of capital gains tax (CGT); and the following other types of income: Dividend income. Royalty…


Switzerland's Federal Council has updated and expanded its lists of countries that it will undertake the automatic exchange of information (AEOI) with regarding bank account information. Switzerland has added 19 more jurisdictions with whom it will exchange data with commencing in 2021. The Swiss Federal…


Certain Russian oil refineries have been producing low quality petroleum and attempting to sell it to Western oil companies in the UK and Europe. The problem has come to a head this week as millions of unused and unwanted barrels of contaminated oil are now stuck in the pipeline from Belarus to Germany,…


The chief operating officer of Facebook and founder of Leanin.org, Sheryl Sandberg had a press conference last week in which she discussed global competitiveness and the implication of breaking-up large US technology firms such as Google and Facebook. Ms Sandberg was interviewed on US television network…



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