Micro News

Micro News

The Family Beach Index defines 50 places for the perfect beach vacation in eight European countries each year. And now Cyprus is the third on the list that reflects the popularity of the Mediterranean island among tourists. The researchers looked at the air temperature, sea water, the sights that people…


The Netherlands government has released a full analysis on its published 'blacklist' of 16 low-tax jurisdictions from the Dutch Ministry of Finance before the start of the new financial year. The list is a result of new regulations by the EU Anti-Tax Avoidance Directive on the taxation of controlled…


Last week the Bahamas government introduced the payment of a new licensing fee for international business companies (IBCs) registered on the island. The Bahamian finance minister has followed up the release after receiving feedback from concerned companies. He clarified that payment will only be necessary…


The new Profit Diversion Compliance Facility (PDCF) established by HM Revenue & Customs in the UK has announced plans to refer to international companies to share their cross-border tactics to artificially reduce their UK profits, including provisions that may fall under the diverted profits tax laws. Additionally,…


Italy's has released its 2019 Budget for the upcoming financial year. A new tax regulation has been implement giving retired foreign pensioners tax breaks to reside in certain areas of the country. Going forward from January 1st, those receiving pensions are offered a 7% tax reduction on all foreign-sourced…


Italy Refuses to Accept Anymore Migrants

According to the statement of the head of the Ministry of Foreign Affairs of Italy, Mr. Milanesi Italy refuses to accept another stream of migrants from the Middle East or Africa. Mr. Milanesi noted that the refusal of the government to sign a global agreement on migration is due to the necessity of…


March 11th is the deadline for paying transport tax in Cyprus and the authorities are calling for its payment from all residents. Firstly, this is due to large fines for any delays. Therefore, after the aforementioned date Cypriots will have to pay a fine of EUR €10 and 10% of the total tax amount. It…


According to the Irish Governments latest taxation figures for 2018, compliance interventions have reportedly stepped in to assist to improving the lost sums in 2019. The Irish Revenue Authority calculated tax losses of just under EUR €600 million, attributed to unpaid tax in 2018 alone. 


After several weeks of bad feedback in all areas regarding the Automatic Exchange of Information (5MLD), the European Commission is looking at proposals in order to allow any further tax policy decisions to be made by qualified majority voting only, as opposed to requiring 100% agreement by all Member…



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