On January 18, 2014 the State Duma introduced a bill on ratification of the Organization for Economic Cooperation and Development (OECD) Multilateral Convention on Mutual Administrative Assistance in Tax Matters signed by Russia back in 2011.


On 14 January 2014, the U.S. Treasury Department published an updated list of countries that are treated as having in effect a FATCA Intergovernmental Agreement (IGA).

The updated list includes the following six additional countries:

  • Bermuda;
  • Guernsey;
  • Isle of Man;
  • Jersey;
  • Malta;
  • Netherlands.

As announced last year in Cyprus the standard and reduced value added tax rates were increased by one percent from January 13, 2014. The standard VAT rate of 18% was increased to 19% and the reduced rate of 8% was increased to 9%.


On 10 January 2014, the USA and Italy signed an Intergovernmental Agreement (IGA), on the basis of a Model 1 template, in order to implement the Foreign Account Tax Compliance Act (FATCA).


On October 2013 a draft law submitted to the Parliament by the former government transposing the Article 8 of EU directive 2011/16/EU of 15 February 2011 on administrative cooperation in the field of taxation (“EUACD”) into Luxembourg tax legislation. 


Uniform Customs Code entered into force on 30 October 2013,but its substantive provisions will apply only on 1 May 2016, and would replace the current Community Customs Code.


In Gibraltar, recently enacted legislation amends the income tax treatment of royalties. The changes made to the Income Tax Act 2010 are effective 1 January 2014.


The Double Taxation Agreement between the UK and China, which was signed in London on 27 June 2011, and the Protocol signed in Beijing on 27 February 2013, entered into force on 13 December 2013


Russian Prime Minister Dmitry Medvedev instructed the Ministry of Finance of Russia and Russian Economic Development and Trade Ministry to prepare draft bills introducing changes to Russian legislation, providing for the taxation in Russia of income of companies, located in an offshore jurisdiction and not distributing their income received in favor of Russian persons controlling such companies, that follows from the Order posted on the website of the Government of the Russian Federation.


Kazakhstan became the 64th signatory of the Multilateral Convention on Mutual Administrative Assistance in Tax Matters, signed by the government in support of efforts to combat international tax avoidance and evasion.

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