In its 2011 tax report, released on 25 April 2013, Europe's statistics agency identified Denmark as having the highest tax burden in the European Union, with income equivalent to 47.7 percent of the country's annual output.

In view of the imminent Memorandum of Understanding between the Republic of Cyprus and Troika (International Monetary Fund, Eurogroup and European Central Bank) for financial support, the Cyprus Parliament has been particularly active in the last weeks of 2012 to vote new laws essentially aiming to meet pre-agreed targets with the Troika.

During 2012, Acts 22-2012 and 138-2012 were approved by the Legislative Assembly of Puerto Rico. The purpose of these measures is to provide incentives to individuals who have NOT been residents of Puerto Rico during the past 15 years, to become residents of Puerto Rico.

George Osborne’s crackdown on property tax-dodgers has all but wiped out the practise of using offshore companies to buy luxury homes, figures compiled by the Financial Times have revealed.

The world's first image rights legislation, The Image Rights (Bailiwick of Guernsey) Ordinance, 2012, is to enter into force on December 3, 2012, following approval by Guernsey's legislative assembly.

Public consultation on the proposed revision of the OECD Transfer Pricing Guidelines for Multinational Enterprises and Tax Administrations was held on 12-14 November in the OECD headquarters in Paris.

On 8 November 2012, the Convention for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income as well as Protocol to the Convention which forms an integral part of the Convention have been signed in Nicosia.

An order of the Russian Ministry of Finance with removing the Republic of Cyprus from the list of offshore zones (so-called “black list”) has been published.

The Russian president Vladimir Putin has approved ratification of the agreement between the Russian Federation and the Republic of Latvia on avoidance of double taxation and prevention of tax evasion with regard to income and capital gains tax.

Russia's lower house of parliament, the Duma, has ratified the pending Protocol to the double tax avoidance agreement with Cyprus, confirming removal of the nation from Russia's notorious 'blacklist'.