News

Legal Update: Terms of Cyprus & Kazakhstan Double Taxation Agreement

Earlier this year, the Convention for the Avoidance of Double Taxation & the Prevention of Fiscal Evasion was assended into national law, in Nur-Sultan, between the Government of Cyprus and the Government of Kazakhstan.


EU Directive 2018/822: Mandatory Cross-Border Disclosure Regulations

Tax transparency has been the topic of many discussions of the minute internationally as all eyes are watching for the EUs next move following the introduction of Europewide anti-avoidance and transparency measures.


G7 Attempts to Reconcile US & EU Tax Arrangements for Global Standard

Finance ministers of the G7 have voted to support the OECD's proposed new rules for taxing transnational corporations and international companies using revisions of current profit allocation and partnership regulations, as well as new global minimum tax regulations.


ICPAC Warns Against the Spread of Fake News Reports Online

The Institute of Public Certified Accountants of Cyprus have released a publication warning its Members of the dangers of sources who are spreading deliberately manipulated information with the aim to mislead people and sway public opinion.


United Arab Emirates Enacts Economic Substance Legislation

The United Arab Emirates have implemented economic substance law: Cabinet Resolution No. 31 of 2019 with the aim to address the CCG's (the EU's Code of Conduct Group [Business Taxation]) substance requirements; following suit with many other international financial centres.


UK Trustees Must Disclose Paper Files to Beneficiaries International Requests

The beneficiaries of a Bahamian trust have overturned a key section of the UK Data Protection Act 1988, winning the right to view personal data about them held on paper by the London-based law firm acting on behalf of the trustees.


Singapore Explores Regulations to Make Crypto-Currency Investment More Secure

Singapore’s central bank has released plans to investigate whether additional official regulations are required to protect investors for crypto-currency trading and activities that require exchange platforms online.


Crown Dependencies Economic Substance Requirements: Guidance Explained

The scope of the new economic substance legislation for corporations has been clarified by the crown dependency Governments. The guidance confirms that going forward, companies based in any of the following UK Crown Dependencies, must continue carrying out their core income-generating activities within Guernsey, the Isle of Man and Jersey, in any relevant sector.


The Forum of Tax Administration Agree on Digital Taxation Proceedings

The Forum of Tax Administration (FTA) is a group of the leading global tax administrations from 53 different jurisdictions. The group recently held their annual plenary meeting in Chile to discuss and improve global tax administration.