News

News

29.09.2014

The Swiss Federal Council has started a consultation on changes to the flat-rate tax credit to relieve permanent establishments of companies that are located in Switzerland double tax for.

The proposed change attributes to permanent establishments in Switzerland that are part of a company domiciled in a country with which Switzerland has signed a double tax agreement (DTA).

25.09.2014

Federal Service for Financial Monitoring developed a new draft law "On Amendments to the Federal Law 115-FZ " Concerning the Counteraction of the Legitimization of Proceeds of Crime and the Financing of Terrorism", which may oblige banks to reveal information about foreign legal entities (trusts and similar entities established in accordance with the laws of a foreign country) and their beneficial owners.

18.09.2014

On September 16, 2014 the OECD has released its first recommendations for realizing the Action Plan on Base Erosion and Profit Shifting (BEPS) designed to combat schemes used by multinational enterprises for lowering tax base and shifting profits.  

17.09.2014

Recently, the State Duma of the Russian Federation reviewed a draft law on ratification of the OECD Convention on Mutual Administrative Assistance in Tax Matters, which was signed by Russia at the summit G20 in November 2011. 

05.09.2014

Russia's Ministry of Finance submitted to the government an updated version of the draft law on the taxation of income of controlled foreign companies (CFC) and the income of foreign companies. 

18.08.2014

Financial experts have broadly welcomed plans by Prime Minister Nikola Gruevski to set up tax havens that will boost employment in the financial and legal sectors.

05.08.2014

Germany's Ministry of Finance announced that a law enabling the implementation of the United States' Foreign Account Tax Compliance Act (FATCA) has come into force. The law entered into force on July 23, 2014.

01.08.2014

A new law aimed at considerable improvements to Kazakhstan’s investment climate introduces new tax incentives for foreign investors. The law came into force on 24 June 2014 and will apply as from 1 January 2015.

22.07.2014

The UK government has recently announced to make Companies House data to be fully open and available free of charge. In doing this the UK will be the first country (Denmark publishes most of its information as open data, but not yet accounts data) publishing the company register including information not only about a company structure, information on appointments and charges, but also accounts information.     

Electronic documents will also be free for all the users whereas it is currently required to pay up to 1 pound per search.

The change will come into effect from the second quarter of 2015. 

04.07.2014

On June 21st, the National Assembly approved amendments to the turnover tax regime. Based on these amendments, starting from October 1st, the turnover tax for trading and manufacturing activities will be lowered from 3.5% to 1%.

Also economic entities whose business is registered as family business and whose annual turnover doesn’t exceed AMD 12 million will be exempted from taxes.

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