Luxembourg's Finance Minister Luc Frieden has recently clarified that Luxembourg is ready for an automatic exchange of tax information.


The Cyprus banks’ opening was put off to the 28th of March. Earlier it was announced that the Cyprus banks recommence operating today


According to Reuters, yesterday during the extraordinary meeting of the Eurogroup in Brussels the president of Cyprus and the EU representatives have reached the arrangements on providing financial aid for Cyprus.


The finance ministers of the EU countries are ready to discuss with the Cyprus government new conditions for financial aid providing.


The Cayman Islands' Government announced that it has elected to adopt a Model 1 intergovernmental agreement with the United States to provide compliance with the US Foreign Account Tax Compliance Act (FATCA).


In the evening March 19 Cyprus Parliament has finally voted regarding bank deposits tax introduction as a condition for getting financial aid from the EU. This measure was rejected by the majority of parliamentarians.


On Monday the Cyprus Parliament postponed the voting regarding bank deposits tax introduction as a condition for getting financial aid from the EU again.


Last Friday the finance ministers of the EU member countries have made preliminary decision on financial aid for Cyprus in the amount up to EUR 10 bln.



We publish full official text  of the Address to the Nation by the President of the Republic of Cyprus Mr Nicos Anastasiades dated 17/03/2013 (from


The FATF has developed guidance aimed to assist countries in the conduct of money laundering and terrorism financing risk assessment at national level.

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