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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Panama Worldwide Tax Repealed – Territorial  System Reinstated

Panama Worldwide Tax Repealed – Territorial System Reinstated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published in the Official Gazette No. 27,450- A dated 10th January 2014, articles2 and 3 of Law number 120 of 2013 were repealed, therefore the provision that established the adoption of a global income tax system in the Republic of Panama was eliminated.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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Cyprus New Double Taxation Avoidance Agreements With Estonia, Finland, Portugal, Spain And Ukraine Take Effect

Cyprus New Double Taxation Avoidance Agreements With Estonia, Finland, Portugal, Spain And Ukraine Take Effect

January 23, 2014 11:37 am

On 1st January 2014, five new agreements on avoidance of double taxation (DTAs) between Cyprus and other countries came into effect. The new agreements are with Finland, Estonia, Portugal, Spain and Ukraine. The first four are brand new agreements, extending Cyprus’s network of DTAs, and the agreement with Ukraine replaces the agreement between the USSR […]

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Hong Kong Ranked As Worlds Freest Economy For 20th Year

Hong Kong Ranked As Worlds Freest Economy For 20th Year

January 22, 2014 12:03 pm

Hong Kong Ranked As World’s Freest Economy for 20th Year For the 20th year consecutive, Hong Kong has maintained its reign as the world’s freest economy, according to the 2014 Index of Economic Freedom that is published on an annual basis by The Heritage Foundation. John CTsang, the Financial Secretary stated that, “market forces have […]

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