Micro News

This week, under its Base Erosion and Profit Shifting programme the OECD published two reports covering:  Directions & guidance for the approach to difficult-to-value intangible assets (BEPS Action 8). Revised directions on the application of the transactional profit separation method (BEPS Action…


Starting from next month, applications for the UK Tier 1 Investor Visa will be much harder to apply for. The UK immigration authorities will require extra evidence to support their applications going forward, including:  A portfolio report to be signed off by a reputable financial institution Proof…


Following a provisional agreement with the European Parliament, this month the EC agreed on new regulations that will enable mutual recognition of asset freezing and seizing orders between European countries. EU Officials hope that the creation of an EU-wide directive will deter criminals from attempting…


Is Airbnb Sharing Or Letting?

According to sources, Airbnb listings are made up of more short-term letting of commercial properties rather than the sharing of spare house capacity. New South Wales in Australia is on the edge of announcing a new short-term letting policy. Research showcases that approximately a ¼ of Airbnb properties…


Akel has tabled 3 bills aiming to encourage the protection net around loan guarantors. However, a 4th bill stating to extend the time period until a bank moves in on a debtor’s property has been completely declined by the finance ministry and banks as well. Moreover, Akel disclose the bills at the recent…


The corporate tax cut recently passed by Trump and fellow Republicans which was in part designed to discourage U.S. businesses from moving profits overseas could instead make the practice much more rewarding. This is due to the fact that companies which shifted profits linked to U.S. sales, production…


EU Business Leaders Reduce UK Investment

Brexit has caused nearly half of large companies from the rest of the EU bloc to cut investment in Britain. The survey created by law firm Baker & McKenzie also highlights that ¾ of bosses wanted Brussels to issue concessions to the UK in order to ensure a better trading relationship after Brexit kicks…


ESM Says Foreclosure Law Insufficient

Cyprus’ legal frameworks aimed at minimizing non-performing loans are inefficient and barely used by banks, whose bad debt stock continue to be a main liability. The European Stability Mechanism (ESM) also reiterated that Cyprus has to resume reforms in essential sectors and also, diversify economic…


According to the World Economic Forum, millennials will constitute 75% of the global workforce by 2025 in Singapore. The people in question, born from 1979  to 2000, they are the next generation of leaders according to some, and others say that they are the most innovative and creative we have ever…


Justice Minister, Ionas Nicolaou, recently announced that there will be considerable changes in the way that justice is served. According to Nicolaou, the Cypriot government will continue with the reform of the judiciary and will take all of the necessary measures to quicken the pace of justice. Moreover,…



Cyprus:
+357 25 02 50 34
Singapore:
+65 62 47 71 92
Russia:
+7 812 458 46 22
Skype:
eltoma.0015