Mr. Ionas Nicolaou, Minister of Justice and Members of Supreme Court had decided to set up a Commercial Court from the beginning of 2018.
On 13th April 2017, the Parliament of Ukraine approved the Convention and Protocol between Ukraine and Malta on “Avoidance of Double taxation and the Prevention of Fiscal Evasion with respect to Taxes on Income”, signed in Kyiv on 4th September 2013.
The programme of Cypriot “Startup Visa” (Startup Permit Scheme) was introduced in February 2017 and will operate till February 2019. The 2 year pilot programme shall attract talented entrepreneurs from third countries (outside EU and EEA). The programme consist of two parts: individual and team.
The Double Tax Treaty (DDT) between The Republic of Cyprus and the Kingdom of Bahrain entered into force in January 2017. The DTT is based on the OECD Model Convention for the Avoidance of Double Taxation on Income and Capital with the aim to help attract foreign direct investment to Cyprus.
Towards the end of the sixties one very famous Italian performer, Domenico Modugno, was singing ‘Meraviglioso’, which was saying “[…] but look around you/ gifts that have made you / They have invented the sea / You say ‘I have nothing’/ It seems nothing the sun?
The Cyprus Tax Authority decided to change the current tax regime in relation to profit margins and loans between related parties.
In June 2016, the UK HM Treasury concluded the consultations on the proposal to change the limited partnership legislation for private investment funds. The new regime is fully operational and ready to be applied.
The Ministry of Finance in Cyprus announced, in agreement with Russian Government, to abolish the introduction of source-based taxation of capital gains on disposal of shares in property-rich companies.
German credit rating agency Creditreform Rating AG, one of the leading rating agencies in Europe, assigned an A+ long-term sovereign rating to Malta. Creditreform described its future outlook as stable.
Swiss Citizens are being asked in a national referendum next Sunday to approve reforms that would eliminate selective tax deals and introduce unified low rates for all companies.