News

News

09.01.2014

On 25 December 2013 the Cabinet of Ministers of Ukraine approved a list of low tax jurisdictions where the corporate income tax rate is five or more percentage units less than that applied in Ukraine, i.e. 14% and less in 2013, in 2014 - 13% and less, in 2015 - 12% and less and in 2016 - 11% and less (under Law № 713-VII passed on 19 December 2013 it is provided that the corporate income tax rate is decreased from 19% to 18% (beginning 1 January 2014) with further decreases to 17% (beginning 1 January 2015) and to 16% (beginning 1 January 2016).

Moldova, Georgia, Cyprus, Malta, the United Arab Emirates, Ireland, Switzerland and 66 other jurisdictions are included to the list that will be applied for identification of controlled transactions for transfer pricing purposes.

26.12.2013

Dear Clients and Partners,

please note that due to celebration of New Year 2014 and Orthodox Christmas our offices will be working as follows:

Moscow and St.Petersburg (Russia):

  • 31 Dec 2013 till 8 Jan 2014 – offices closed
  • 9-10 Jan 2014 - regular working days
  • 11-12 Jan 2014  – regular weekend, office closed
  • 13 Jan - reopen

Kyiv (Ukraine):

  • 31 Dec 2013 till 7 Jan 2014 – offices closed
  • 8-10 Jan 2014 - regular working days
  • 11-12 Jan 2014  – regular weekend, office closed
  • 13 Jan - reopen

 

We wish you a very Merry Christmas and a Wonderful New Year 2014!

23.12.2013

On 18 November 2013, the Hungarian Parliament accepted the tax law changes for 2014 to be effective as of 1 January 2014. 

20.12.2013

On 15 December 2013 His Highness Sheikh Mohammed bin Rashid Al Maktoum, in his capacity as the Ruler of Dubai, has enacted the DIFC Laws Amendment Law, DIFC Law No. 1 of 2013 available on the DIFC Authority website www.difc.ae.

19.12.2013

On 16 December 2013 Malta has become the latest country to sign intergovernmental agreement with the US to implement the Foreign Account Tax Compliance Act (FATCA).

Earlier, on 13 December 2013 Jersey, Guernsey and the Isle of Man have all signed similar agreements with the US. 

18.12.2013

On 5 December 2013 Double taxation agreement between the Governments of Hong Kong and Guernsey entered into force.

17.12.2013

On 15 November 2013 Belarusian parliament ratified Double taxation agreement (DTA) between the Governments of Belarus and Singapore.

The DTA provides for lower withholding tax rates for dividends, interest and royalties than the rates under national Belarusian taxation legislation.

16.12.2013

Six Swiss banks - Bank Coop, Migros Bank, Linth Bank; Valiant Holding; Vontobel Holding AG; and Berner Kantonalbank - have announced their participation in the US program (see below), under which they may avoid criminal prosecutions in return for supplying the US Department of Justice with client information, plus financial penalties of up to 50% of assets they managed on behalf of US citizens. 

13.12.2013

On 11 December 2013 European Parliament approved legislative initiative to oblige EU countries by 2017 to collect and automatically share data on income from employment, directors' fees, life insurance, pensions and property, as well as on other income, including that from dividends, capital gains and bank account balances.

This European Parliament’s proposal for a Council directive is advisory in nature.

12.12.2013

Today, on 12 December 2013, the 20th anniversary of the Russian Constitution, Vladimir Putin delivered the annual Presidential Address to the Federal Assembly. 

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