News

OECD proposals for changes to tax legislation are imminent warn BEPS

The OECD (Organisation for Economic Co-Operation and Development) started a huge globally wide investigation into tax avoidance by multinational companies. As it has been a few years since the initiative began, substantial changes have been made to the international tax system which doesn’t look to be stopping in the coming years. Certain amendments will affect all businesses everywhere, not only international conglomerates.


Cayman officials work to find alternative to controversial transparency requirements

The Cayman Islands have met with UK government officials to discuss less controversial alternatives to the public register of beneficial ownership that is less harsh but will still meet the UK’s transparency requirements for its overseas territories.


EU Data Protection Reform Agreement Reached

Towards the year end of 2015, after lengthy negotiations, the European Parliament agreed on the final text of the data reform package.


Cyprus banking: a number of contradictory announcements

Large Cyprus banks keep releasing contradictory announcements with regards to the banks’ workforce, teetering between plans of hiring new employees and providing early retirement of the existing staff members.


St Kitts & Nevis PM evaluates the Citizenship-by-Investment programme

The Prime Minister of St Kitts & Nevis aspires to establish its nation as the most prosperous small island in the world with the help of the CBI programme.


Switzerland to adopt Anti-Money Laundering Ordinance

The Swiss Federal Council has adopted the Anti-Money Laundering Ordinance (AMLO) and it will enter into force on 1 January 2016.


To sell or not to sell? Cyprus' Non Performing-Loan deadlock

Troika has made a decision to not allow borrowers to repay their loans at a discounted price, however without the immediate agreement of the DIKO party, the issue leads the Government towards to a deadlock and a plan overturn.