News

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.


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.


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.


Following continued revelations over the last five years (the Panama Papers, Luxleaks and the Paradise papers to name a few); the European Parliament have decided to establish a Special Committee to take positive action to reduce financial crimes, tax evasion and tax avoidance within Europe. As part of the TAX3 decision, which was created last year in March 2018.