News

The company fees were imposed by the government in wake of economic measures to increase their liquidity needs. Official statements from the Department of the Registrar, have confirmed that the annual fee of 350 Euros was paid from a 73,267 companies. A total of 73,267 companies which are registered…


Cyprus Immigration - Regulatory Updates

The Schengen Borders Code, which outlines controls of immigration to Cyprus, is obliged to be implemented as indicated for EU member states. Civil Registry and Migration commentators have advised that new controls which are aimed to simplify the Schengen Borders code to avoid misinterpretation from…


New Global Economic Risks -as warned by IMF Director

In a time when many emerging countries are trying to implement, restructure and develop their economies, Ms Christine Lagarde (International Monetary Fund, Director) has warned of new global challenges. These challenges, already being evident from the BRIC's economies (Brazil, Russia, China, and India)…


Combat of Global Financial Turbulence Main Aim of the G20

Money outflow from Brazil, Russia, India, China and South Africa (BRIC's group) with the aim of the U.S. have sparked fears about their economies. The motion is apparent from the hike of the U.S. dollar, which the South American and Chinese governments are already coordinating action measures to diminish…


The OECD is a government-funded think tank that was charged by the G-20 to tackle the issue. Tax planning strategies used by companies as Google Inc. (GOOG), Apple Inc. (AAPL) and Yahoo! Inc. (YHOO) and other similar companies are in the Organization's for Economic Cooperation and Development (OECD)…


Tax amnesty for return of capital

A new proposition that has been approved by the Government to gear up capital by offering an amnesty period till the 31st of December 2013 could be a solution to increase the liquidity needs of Cyprus. The Government is aiming for the return of liquid funds that are currently held in tax havens abroad. In…


Representatives of Troika, the European Commission, the International Monetary Fund, and the European Central Bank have all arrived in Cyprus on the 17th of July. They will comprehensively assess the implementation of the stabilization program of Cyprus, which was approved in March from the Eurogroup…


Russian gas reserves second only to Iran

This month, the Russian government has released the extent of oil and gas reserve-  which have been kept secret. According to Reuters, the cost of Russian Urals crude rose to a maximum value of 109.88 dollars per barrel; the price for North Sea Brent also changed to 109, 53 dollars per barrel. Oil prices…


G20 fight against tax evasion

On the 19thof July, a meeting of G20 finance ministers will be held in Moscow. The leaders are planning to introduce a new scheme to fight tax evasion. The Organization of Economic Cooperation and Development (OECD) prepared a plan of action to combat the diversion of legitimate income from taxation…


Singapore's economic growth increased by 15.2%

Data from the Ministry of Commerce showed that in the second quarter of this year, Singapore's economy grew by 15.2%. Advances in Biomedicine helped develop and boost the economy of the country. In comparison with the figures for the previous quarter, the data appears to be rather optimistic. The…