News

Gas discussions in Moscow

At the invitation of the Chairman of the State Duma Sergey Naryshkin, House President Yiannakis Omirou and a parliamentary delegation arrived in Moscow on Wednesday for an official two-day visit. The highlight was a two-hour meeting with Russian Deputy Energy Minister Yury Sentyurin. Omirou pointed…


Cyprus and Iran have had their ups and downs in recent times but good times are coming. Iran's Ambassador has recently visited Nicosia to declare that they can develop (with Cyprus) a good cooperation to manage the production of gas and also to make Cyprus a country which can be considered a gate for…


The lower house of the Swiss Parliament rejected a bill allowing Swiss banks to provide information on their foreign clients on request of U.S. tax authorities. The reason for the appearance of the bill was frequent accusations of American authorities that the Swiss banks, helped U.S. citizens to evade…


G8 agreed on tax evasion measures

 Recent summit of G8 held in Ireland has shown that the problem of tax evasion is becoming the main focus nowadays. Governments will be taking rapid measures to identify and close existing tax loopholes. Chancellor George Osborne has explained plans to stop international companies veiling their profits…


During the March crisis Cyprus suffered a decrease in the number of company formations due to the hard hit on the bank sector. This may have showed a 60% fall in the number of new company registrations. According to the company registration applications in May, this reached 640 compared with 1,600 last…


Foreign direct investment into China

During the first five months of this year foreign direct investment (FDI) into China rose significantly, as the government explained on Tuesday, paced by strong increases from the European Union and United States. Incoming FDI, which excludes financial sectors, rose 1.0 percent to US$47.6 billion (S$59.5…


A new European system for the automatic exchange of tax related information will be launched on January 1, 2015. The system will address tax evasion in the EU and also help developing countries collect more tax. Tax evasion is concealing taxable income or assets in anther jurisdiction other than the…