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US IRS Confirms That Cyprus Resident Holding Companies May Qualify For The Reduced Tax Rate On Dividends From Qualified Foreign Corporations 2

US IRS Confirms That Cyprus Resident Holding Companies May Qualify For The Reduced Tax Rate On Dividends From Qualified Foreign Corporations

January 30, 2014 5:44 am

The office of Associate Chief Counsel of the US Internal Revenue Service announced in September 2013 that a Cyprus resident holding company has the necessary qualification for benefits under the US –Cyprus double tax treaty (Treaty) and reduced tax rate on dividends from “ qualified foreign corporations” , despite the company not meeting the set […]

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UAE Sets Rules To Develop Covered Bonds Market

UAE Sets Rules To Develop Covered Bonds Market

January 28, 2014 9:07 am

The UAE (United Arab Emirates) issued rules for the issuance and trading of covered bonds, potentially a key step towards developing its debt market and providing a new source of funding for commercial banks. The state news agency WAM on Sunday reported that the Securities and Commodities Authority, the UAE’s financial market regulator, set requirements […]

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Singapore To Improve AML Regime

Singapore To Improve AML Regime

January 25, 2014 11:00 am

Singapore’s Steering Committee – led by the Monetary Authority of Singapore, the Ministry of Finance and the Ministry of Home Affairs- has released its inaugural national risk assessment report (NRA) on ML (money laundering) and terrorist financing (TF) risks in the country. The NRA is an ML/TF risk audit that is not limited to the […]

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Panama Worldwide Tax Repealed – Territorial  System Reinstated

Panama Worldwide Tax Repealed – Territorial System Reinstated

January 24, 2014 2:29 pm

By means of Law number 1, dated 8th January 2014 , published in the Official Gazette No. 27,450- A dated 10th January 2014, articles2 and 3 of Law number 120 of 2013 were repealed, therefore the provision that established the adoption of a global income tax system in the Republic of Panama was eliminated. The […]

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