Cyprus’ tax incentives for foreign technology companies have proven successful, with around 7,000 work permits issued as of September 2022 to highly skilled individuals of tech companies who moved their business operations to Cyprus. The tax incentives have attracted foreign technology firms from all of the world and significantly contributed to the growth of the […]
Many of you are asking us – what is actually the exchange of information and tax reporting? It can be said that exchange of information in tax matters had started in 1919 with works of League of Nations. It continued in 1963 with OECD Models of double taxation convention. Then, it speeded up from 1998 […]
The United Arab Emirates is one of the world’s fastest-growing tax havens according to The Corporate Tax Haven Index 2021, a study of Tax Justice Network published on 9 March, 2021. On top of the list are the United Kingdoms’s offshore territories the British Virgin Islands, the Cayman Islands and Bermuda as the most significant […]
When advising on taxes the non-tax related factors play a much larger and important role that one would think. Nowadays, in the global and interconnected world with issues such as security, healthcare, and education, the tax advice is not just about minimising taxes anymore. Clients are concerned about and take into consideration family safety, securing […]
After a few contentious weeks of negotiations, Cyprus and Russia have reached a final agreement on their amended double tax treaty. Russia plans to introduce a 15 percent fee on dividends paid to Russian-owned parent companies in Cyprus in order to ease the pain caused by COVID-19 pandemics and cope with the current decline in […]
In a digital era of the 21st century, cryptocurrencies such as bitcoin, ethereum, ripple or litecoin, have become a newborn alternative and universal currency without the need of attachment to any particular state. It caught countries throughout the world by surprise and since there is no universal regulatory response, the states themselves started to legalise […]
The Czech Republic can be a role model for other countries in helping employers to manage the costs of tests for the COVID-19 virus. On 14 May, the Financial Administration of the Czech Republic clarified on its website information regarding the payment by employers of mandatory COVID-19 tests for employees. Hence, the expenses for such […]
The Czech Republic’s government is uncertain and worried that its proposed rate of 7% on digital tax on tech companies with global turnover over 750 million euros ($809 million) might be too high compared to other EU states. Therefore, the parliament’s budgetary committee has unanimously delayed a discussion about reducing the rate until 10 June […]
