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Tax

Cyprus
Cyprus plans to provide new tax incentives to employees of foreign companies
The Cabinet of Ministers of Cyprus has approved a bill introducing tax incentives for executives and employees of foreign companies
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Cyprus is the best tax jurisdiction for international companies
Andorra
Taxes in Andorra: what will change from January 1, 2023
The Council of Ministers of Andorra has approved a new effective corporate tax rate for companies registered in the country.
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Residence permit in Andorra for investment: how to get to become a tax resident
Greece
Taxes on property, gifts and business income in Greece: changes in 2022
Starting January 1st, 2022, there are new “objective values” for real estate that affect taxes when buying and owning properties
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All countries
The UAE introduces corporate income tax from June, 2023
The corporate tax rate will be 9% for companies registered in the UAE. But not every business is required to
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The UAE introduces corporate income tax from June, 2023
Malta
Taxes In Malta: What Will Change In 2022
Malta's budget for 2022 includes changes to tax legislation. They are aimed at supporting businesses, regulating the property market and
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How taxes in Malta will change in 2022 for investors with residence permits, permanent residence permits and Maltese citizenship
Russia
FTS of Russia checks owners of foreign accounts and assets: how it goes and what is the threat of check in 2021
The Federal Tax Service (FTS) has processed financial data on foreign accounts and assets of Russians for 2017. If the
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FTS of Russia checks owners of foreign assets
Russia
The FTS of Russia will get expanded access to bank secrecy: what it means for clients of Russian banks
The Federal Tax Service (FTS) will be able to request personal data and information on the accounts of clients of
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FTS will get expanded access to bank secrecy in March 2021
United Kingdom
Russians continue to invest in UK businesses despite pandemic
Five investors from Russia were granted residence permits in the UK between October and December 2020. Russians are the fourth
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UK residence permit for investors: 2020 statistics
Greece
Greece has introduced tax breaks on global income for foreign investors
The Greek Ministry of Finance has introduced tax incentives for wealthy foreigners who change their tax residence to Greek. The
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Greece introduces tax breaks on global income for investors
Cyprus
The Cyprus Parliament is considering 2 draft laws on tax benefits for wealthy foreigners
The Cyprus Ministry of Finance proposes to introduce new and extend the existing tax benefits for wealthy foreigners. Members of
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Cyprus: The draft law of tax benefit for wealthy foreigners
Russia
The State Duma will consider a bill that gives the FTS access to bank accounts
The Russian government has submitted a draft law to the State Duma which proposes to give the Federal Tax Service
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The State Duma of the Russian Federation will consider a bill on expanding the powers of the Federal Tax Service
Cyprus
Cyprus economy will recover, property prices are expected to rise
The economy of Cyprus is recovering steadily. The international rating agency Standard & Poor's (S&P) forecasts 5.5% GDP growth in
Read More
The Economy of Cyprus: Forecasts 2020-2022
Malta
The Government of the Russian Federation has approved amendments to the tax agreement with Malta.
The Russian Government has approved draft amendments to the Double Taxation Agreement (DTA) with Malta. The new terms provide for
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Cyprus
Cyprus and Russia sign a new double tax agreement.
A new double taxation agreement (DTA) was signed between the governments of Russia and Cyprus. The document will come into
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Cyprus
Cyprus and Russia added exceptions to the tax treaty, Malta and Luxembourg agreed to increase the rate to 15%
The new Double Taxation Agreement (DTA) between Russia and Cyprus will provide for a number of exceptions. Some companies will
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Cyprus and Russia made changes to the new DTA project
Cyprus
Russia is changing DTA with Cyprus, Malta and Luxembourg are on the line
Russia has stopped the denunciation of the Double Taxation Agreement (DTA) with Cyprus, which agreed to Russia's terms. Russian tax
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Cyprus will change DTA with Russia
All countries
Cyprus and Switzerland have changed their double taxation agreement
The representatives of Switzerland and Cyprus signed a protocol amending the Double Taxation Agreement (DTA) with respect to taxes on
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Cyprus and Switzerland amend DTT
Malta
Russia is going to break up Double Taxation Avoidance Agreement (DTAA) with Malta. How will this affect investors?
The Ministry of Finance of the Russian Federation has prepared an agreement on termination of the double taxation avoidance agreement
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Russia is going to break up Double Taxation Avoidance Agreement (DTAA) with Malta. How will this affect investors?
Malta
Malta: reduced tax on property purchases
Malta has reduced stamp duty for buyers and sellers of real estate. The new rates apply to homes worth up
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Malta: reduced tax on property purchases

Cyprus is considered to be one of the best places to open a new company or transfer tax residence of an international business. The corporate tax rate in the country is only 12.5%. The company does not pay tax if it receives income from dividends, exchange rate differences, securities transactions, a foreign branch of a Cypriot company. Only half of the income tax is paid by managers and employees of foreign companies in Cyprus if …

Cyprus plans to provide new tax incentives to employees of foreign companies Читать далее

The Andorran tax system is one of the most attractive in the world, so investors receive a residence permit for investment. There is no tax on capital gains, dividends and inheritance in the country. Everyone who is registered in Andorra or has resident status is subject to income tax — Impost de societats, or IS. The nominal corporate tax rate is 10%, but the effective corporate tax rate can be reduced …

Taxes in Andorra: what will change from January 1, 2023 Читать далее

Regions where the transfer tax sum may increase The objective price per square meter has increased by an average of 50% in 7,000 zones. Real estate on the island of Ithaca rose the most: from €600 to €2,100 per square meter, or by 250%. 10 zones where the objective value per square meter has grown the most in 2022 Zone Price per sq. m. before December 31st, 2021 Price per sq. …

Taxes on property, gifts and business income in Greece: changes in 2022 Читать далее

Until now, only foreign banks and insurance companies have paid income tax in the UAE: a rate of 20% applies to them. Oil and gas producing companies pay corporate tax on a progressive scale of up to 55%. From the beginning of the 2023 fiscal year which is June 1st, medium and large companies will be subject to the income tax. Small businesses and start-ups are exempt from paying the tax. The corporate tax …

The UAE introduces corporate income tax from June, 2023 Читать далее

Tax rates on the purchase and sale of real estate are reduced Investors who purchase property for the purpose of obtaining a residence permit and permanent residence permit investment and citizenship of Malta for exceptional services can also benefit from reduced rates. The minimum value of a property for a residence permit is €220,000, for a permanent residence permit €300,000 and for citizenship €700,000. Tax incentives for the transfer of business by inheritance have been extended  Benefits …

Taxes In Malta: What Will Change In 2022 Читать далее

Russians own 700,000 accounts around the world. The balances on such accounts are about 13 trillion rubles, or about $180 billion. The statistics were given by Dmitry Volvach, deputy head of the Russian FTS, in January 2021. Financial information about foreign accounts and assets of Russians is automatically reported to the tax service. States exchange data according to a plan of the Organization for Economic Cooperation and Development. The exchange of information is …

FTS of Russia checks owners of foreign accounts and assets: how it goes and what is the threat of check in 2021 Читать далее

The FTS request must be motivated, i.e. it must have serious grounds. This requirement is stated in the Federal Law № 6-ФЗ from 17.02.2021. If the request concerns a legal entity, the basis is a tax audit, a court decision on the collection of taxes or the suspension of transactions and transfers on the account. The inspectorate only gains access to the data of individuals by agreement with the head of a higher tax authority. It is allowed to make inquiries during a tax …

The FTS of Russia will get expanded access to bank secrecy: what it means for clients of Russian banks Читать далее

Statistics on investor issuance are collected by the UK Home Office. The latest figures take into account the number of applicants for 2020, the total amount invested in the business and the nationality of the applicants. Number of applicants. 216 investors and 375 of their family members received a residence permit by business investment in 2020. Of these, 150 were in the last three months, from October to December. The UK issued 40% fewer investor visas in 2020 compared to 2019. The drop …

Russians continue to invest in UK businesses despite pandemic Читать далее

It is possible to use the preferential system for 15 years after changing your tax residence. The relevant innovations are set out in Article 5A of Act 4172/2013. New tax residents in Greece are able to pay tax on world income in the form of a one-time fixed payment of €100,000 per year. If several family members become tax residents, the investor pays an additional EUR 20,000 per year for each close relative. …

Greece has introduced tax breaks on global income for foreign investors Читать далее

The Ministry of Finance notes that the main purpose of the amendments is to attract wealthy people to the country who will develop the island's economy. First of all, we are talking about foreign businessmen: tax benefits will be an excuse to relocate company head offices to Cyprus. What tax benefits are set out in the draft laws The Ministry of Finance propose two main changes. Foreign citizens will be able …

The Cyprus Parliament is considering 2 draft laws on tax benefits for wealthy foreigners Читать далее

The Cabinet of Ministers proposed the listed changes to the draft law "On the federal budget for 2021 and for the planning period 2022 and 2023". What changes are proposed in the draft law At the suggestion of the Government of the Russian Federation, the tax service will be able to receive information about Russian banks' customers directly, without being bound to tax audits. We are talking about individual clients and transactions on their accounts. The mechanism of access, …

The State Duma will consider a bill that gives the FTS access to bank accounts Читать далее

In their latest report, S&P experts assigned Cyprus the sovereign credit rating of BBB-/A-3. This sufficiently high rating is evidence of the stability of the economy and the satisfactory solvency of the state. What was the forecast of the European Central Bank in spring 2020 In April 2020, European Central Bank President Christine Lagarde projected a 5-12% decline in EU GDP for 2020. Today, S&P expects Cyprus to have a GDP deficit of 4.6%.  The Government of Cyprus …

Cyprus economy will recover, property prices are expected to rise Читать далее

The relevant order was signed by Russian Prime Minister Mikhail Mishustin. Rate increase and exceptions A preferential tax rate of no more than 5% will be maintained: dividends and interest payments from insurance and pension funds; dividends and interest payments of public companies listed on a registered stock exchange. There are 2 conditions for such companies: ownership of at least 15% of the capital of a business that pays dividends for at least …

The Government of the Russian Federation has approved amendments to the tax agreement with Malta. Читать далее

The agreement was signed by Constantinos Petrides, Minister of Finance of Cyprus, and Alexei Sazanov, Deputy Minister of Finance of Russia. New DTA rates and exemptions with Cyprus Earlier we said that the new  DTA in Russia will increase the rates on dividends from companies and interest on bonds from 0-10% to 15%. During the negotiations, Russia and Cyprus made a number of exceptions to the agreement, under which the tax rate will remain the same. An increase in the tax …

Cyprus and Russia sign a new double tax agreement. Читать далее

Minister of Finance of Cyprus Constantinos Petrides announced that the amendments were agreed upon. The ...

Russia and Cyprus held regular negotiations on amending the DTA. The Cypriot delegation fully agreed to the terms of the Russian side. As a result, the parties signed a draft protocol. It is planned to sign it finally in September. The Protocol will be ratified before the end of 2020 and it will enter into force on 1 January 2021. Thus, from the beginning of next year the tax rate on dividends and interest paid by Russian companies in Cyprus …

Russia is changing DTA with Cyprus, Malta and Luxembourg are on the line Читать далее

The Double Tax Agreement covers taxes on income and capital that are levied in Cyprus and Switzerland. Amendments to DTA were made in Nicosia on June 20, 2020. The protocol was signed by Constantinos Petrides, Minister of Finance of Cyprus, and Pierre-Yves Fux, Ambassador of Switzerland to Cyprus. The document introduces the Organization for Economic Cooperation and Development (OECD) Minimum Standards for Basic Erosion and Profit Shifting (BEPS) in DTA. In addition, provisions …

Cyprus and Switzerland have changed their double taxation agreement Читать далее

The Ministry of Finance of the Russian Federation has prepared a draft agreement on cancellation of the double taxation treaty (DTAA) between Malta and Russia. If it is signed, from January 1, 2021 the tax burden will increase for Russians who accumulate money in Malta or receive income from assets in this country. According to Immigrant Invest lawyers, the cancellation of the DTAA will not affect investors' interest in Malta's citizenship or permanent residence programmes for investment. …

Russia is going to break up Double Taxation Avoidance Agreement (DTAA) with Malta. How will this affect investors? Читать далее

Malta reduces stamp duty on the purchase and sale of real estate. This is one of the measures in the " A Better Tomorrow " package, which aims to stimulate the country's economy after the COVID-19 pandemic. The launch of the package was announced by Malta Prime Minister Robert Abela. New stamp duty rates The new tax rates apply to transactions with assets of up to €400 thousand concluded before March 2021. Housing in this price category is …

Malta: reduced tax on property purchases Читать далее