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New Tax Practice, Cyprus

June 28, 2017 11:34 am

INTRODUCTION In February 2017, the tax department in Cyprus announced its plan to end the existing tax practice in regards to minimum acceptable margins on loans given to related parties. The reason the tax department has decided to terminate the specific tax practice is that the tax system of Cyprus has to comply with the […]

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Cyprus will sign the Multilateral Instrument of the OECD on the 7th of June 2017

May 24, 2017 2:14 pm

The Cyprus government declared its intent to sign the ‘Multilateral convention to implement tax treaty related measures to prevent Base Erosion and Profit Shifting’ (Multilateral Instrument) of the OECD in setting minimum standards on Double Tax Treaties. The Ministry of Finance issued a press release stating that everything has been approved by the Council of […]

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UAE, Dubai Bank Secrecy & Shareholders’ Confidentiality

May 24, 2017 2:11 pm

It is common knowledge that the UAE’s banking system is more efficient and applies more effective policies than most countries around the world. This is no exception when it comes to protecting shareholder’s personal information. The UAE companies are not subject to harmful tax practices, meaning they do not have different tax regime for resident […]

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New Tax Practice on Intra-Group Loan Facilities

May 24, 2017 2:09 pm

INTRODUCTION In February 2017, the tax department in Cyprus announced its plan to end the existing tax practice in regards to minimum acceptable margins on loans given to related parties. The reason the tax department has decided to terminate the specific tax practice is that the tax system of Cyprus has to comply with the […]

Read more...