Industry News

UK implements tax on real estate held by offshore companies

Riga, Latvia, December 18, 2012, 09:00 / Industry News / Jurisdictions: UK

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.

Guernsey Adopts World-First Image Rights Law

Riga, Latvia, December 4, 2012, 09:00 / Industry News / Jurisdictions: Guernsey

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 revision of the OECD Transfer Pricing Guidelines completed

Riga, Latvia, November 26, 2012, 14:00 / Industry News

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.

Cyprus and Ukraine signed a double tax treaty

Riga, Latvia, November 20, 2012, 09:00 / Industry News / Jurisdictions: Cyprus, Ukraine

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.

Cyprus will be excluded from Russian ‘black list’

Riga, Latvia, November 2, 2012, 13:00 / Industry News / Jurisdictions: Russia, Cyprus

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.

Russia and Latvia to avoid double taxation

Riga, Latvia, October 12, 2012, 14:30 / Industry News / Jurisdictions: Russia, Latvia

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.

Cyprus removed from Russia's notorious 'blacklist'

Riga, Latvia, February 24, 2012, 10:00 / Industry News / Jurisdictions: Russia, Cyprus

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'.

Binding rulings and advance pricing agreements introduced in Lithuania

February 15, 2012, 10:00 / Industry News / Jurisdiction: Lithuania

In October 2011 the Lithuanian Tax Authority under the Ministry of Finance of the Republic if Lithuania approved the rules on filing an application for a biding ruling or APA, “Examination of applications, decision making und change”.

London aims to become a Renminbi trading centre

January 27, 2012, 13:00 / Industry News / Jurisdictions: China, United Kingdom, Hong Kong

UK signed a deal with Hong Kong aimed at helping turn the City into an offshore trading centre for the renminbi.

Germany, France urge EU to speed tax coordination

January 27, 2012, 12:00 / Industry News / Jurisdictions: European Union, Germany, France

Germany and France are pushing the European Union to speed up tax coordination efforts, despite British and Irish opposition, and will soon make proposals to harmonise their corporate tax rates.

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