Micro News

Micro News

The Isle of Man’s Chief Minister has told the Manx Parliament's Economic Policy Review Committee about how the island 'faces a very real danger of being put on the European Commission's blacklist of non-cooperative jurisdictions'. Unfortunately, the island has until the end of the fiscal year to rectify…


Ukraine's finance ministry has published a draft bill in hopes that it will establish improved and stricter tax reporting requirements for high net worth individuals (HNWIs). The draft bill will essentially grant the Ukrainian tax authorities greater rights and ease of access to the bank statements of…


US tech giant Apple have signed a legal agreement provisionally approving terms to pay Ireland back EUR €13 billion in what the EU called illegal state aid granted to the company between 2003 and 2014 in the form of favourable tax rulings. The funds have been paid into an escrow bank account starting…


US tech giant Apple have signed a legal agreement provisionally approving terms to pay Ireland back EUR €13 billion in what the EU called illegal state aid granted to the company between 2003 and 2014 in the form of favourable tax rulings.  The funds have been paid into an escrow bank account starting…


The G20 membership countries will convene together in Paris to discuss the launch of a new OECD driven initiative which will ultimately prevent investors using various citizenship by investment programmes as a newly devised way to avoid disclosing their financial account information between jurisdictions.  The…


This month, fund repatriation requirements were extended to include cover loans that were issued by Russian residents to non-resident borrowers, thereby reducing the chances for companies to transfer currency abroad through non-repayable loans.  The new obligations and penalties for Russian lenders…


Spain: Beneficial Ownership Regime Now in Force

Spain's Ministerial Order 319/2018 was issued on 21 March, requiring Spanish non-listed companies to disclose their ultimate beneficial owners to the Companies Registry, and to keep the information updated. Companies with an indirect ultimate beneficial owner must also identify the legal persons that…


The Swiss government has submitted Tax Proposal 17 (also known as TP17) to Parliament, setting the basis for new corporate tax rules. The previous plan was rejected in a national referendum in February 2017.  The proposal will reportedly replace the current and controversial special corporate tax regimes…



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