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Alteration made to the EU Parent-Subsidiary Directive

Alteration made to the EU Parent-Subsidiary Directive

February 27, 2015 12:16 pm

As anticipated, the Council of the European Union altered the EU Parent-Subsidiary Directive and included an anti-abuse clause in order to put a stop to tax avoidance and assert that all member states apply the directive consistently and effectively. The purpose of the Parent-Subsidiary Directive is to make certain that profits generated by groups outside […]

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HC rejected request against blacklist of Cyprus

HC rejected request against blacklist of Cyprus

February 27, 2015 12:14 pm

Recently, the courts of Uttarakhand rejected a written plea, which challenged its decision to blacklist Cyprus as a notified jurisdiction regarding income tax. The court’s rejection dissatisfied a flow of foreign investors. Foreign investors were hoping the petition would lead the courts to reconsider the Indian’s government notification issued in November 2013, declaring Cyprus as […]

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Cyprus Government Asserts No New Taxes will be implemented in 2015 Budget

Cyprus Government Asserts No New Taxes will be implemented in 2015 Budget

February 20, 2015 10:55 am

The government of Cyprus verifies that no new taxes will be implemented and not cutbacks will be made concerning the 2015 budget. The government informed that the 2015 budget would be conservative and realistic, while still being within the targets set. The government opted to follow a conservative path in order to make up for […]

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Economic Cooperation between Russia and Cyprus

Economic Cooperation between Russia and Cyprus

February 20, 2015 10:53 am

The eighth in a series of meeting was held between Russian and Cypriot government officials last Friday concerning Intergovernmental Committee for Economic Cooperation. The Cyprus Minister of Finance and the Russian Deputy Minister of Economic Development established the rules and regulations of the protocol regarding economic collaboration between the two countries, which will be signed […]

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