Latest Posts

Highlight of the main provisions of the new version of the draft law on deoffshorization modified by the Ministry of Finance of Russian Federation based on the results of the public discussion

Russia: New version of the deoffshorization draft law

June 22, 2014 1:23 am

May 2014 Moscow: The Ministry of Finance of Russian Federation has undertaken the preparation of a new version of the deoffshorization draft law to be presented to the RF Government (herein after the draft law).The draft law makes an introduction into the RF Tax Code guidelines on the taxation of CFCs (Controlled Foreign Companies), Tax […]

Read more...

UAE economy set for a sustainable boom

UAE economy set for a sustainable boom

June 22, 2014 1:22 am

Solid fundamentals and non oil sectors are the main driving force behind GDP growth, according to statistics from the Institute of International Finance. Dubai: The UAE economy recorded a 4.7% growth in 2013, the highest since 2006 (9.9%), aided by increased oil production and strong recovery in domestic demand. This growth trend is set to […]

Read more...

IRS Issues Notice Signaling 2014 and 2015 as FATCA “Transition Period”

IRS Issues Notice Signaling 2014 and 2015 as FATCA “Transition Period”

June 22, 2014 1:21 am

On 2nd May 2014, the IRS (Internal Revenue Service) issued Notice 2014-33 (“Notice”) indicating those calendar years 2014 and 2015 will be taken to be a “transition period” for purposes of enforcement and administration of FATCA (Foreign Account Tax Compliance Act). The notice also highlights certain transition rules that are set to be included in […]

Read more...

Cyprus looking forward to closer business ties with UAE

Cyprus looking forward to closer business ties with UAE

June 22, 2014 1:21 am

The head of state says that the implementation of a series of measures that seek to reduce bureaucracy is underway. Dubai: Nico Anastasiades , president of the Republic of Cyprus , said that business relations between UAE and Cyprus are set on solid foundations and championed for the need of boosting economic ties shared by […]

Read more...