Σύμφωνα με επίσημη ερμηνεία ημερομηνίας 31 Μαρτίου 2016 (ΔΟΣ Α 1051902 ΕΞ 2016) της Διεύθυνσης Διεθνών Οικονομικών Σχέσεων (ΔΟΣ) της Ελλάδας για τη σύμβαση αποφυγής διπλής φορολογίας (ΣΑΔΦ) μεταξύ Ελλάδας και Κύπρου, ο κυπριακός φόρος εισοδήματος (12,5%) μπορεί να πιστωθεί έναντι του ελληνικού φόρου μερισμάτων (αυξήθηκε πρόσφατα στο 15%). Σύμφωνα με την ερμηνεία της ΔΟΣ για τις διατάξεις περί φορολογίας…

 The United Arab Emirates (UAE) has a unique and important position not only in the Middle East but in the global business environment as well. The world renowned United Arab Emirates is a federation of seven emirates namely Dubai, Abu Dhabi, Sharjah, Ras Al Khamiah, Ajman, Fujairah and Umm al-Quwain. The most famous emirate amongst the seven is Dubai which…

Singapore - Russia Singapore and Russia signed a Protocol on 17 November 2015 to amend the existing Double Taxation Agreement (“DTA”) which is expected to enhance trade and investment flows between the two countries. The Protocol was signed in Moscow between Singapore’s Ambassador to the Russian Federation, Ms Kim Keng Hua and Russian Deputy Minister of Finance, Mr Sergey Shatalov.…

All Cyprus registered companies are required to pay the Annual Government Levy of €350 to the Registrar of Companies by 30 June of each year.  Penalties apply in case of delayed payments. For Companies incorporated after 30 June the Levy is payable upon incorporation. Please note that the Levy is payable only through the Department’s website and through JCCsmart. If…

In December 2015, a new draft tax law has been released for attracting overseas and China companies to set up their corporate treasury centres (CTCs) in Hong Kong. Among other things, the following key provisions are proposed: •    Introducing a reduced profits tax rate of 8.25% (which  is half of the standard profits tax rate of 16.5%) for profits derived…

Updated rules and regulations of the current legislation regarding a controlled foreign company (CFC) - Federal law No. 150-FL of 08.06.2015: 1.    The concept of CFC exempts active foreign companies (with not more than 20% of profits comprising passive income) from the scope of CFC rules. Moreover, active holding and sub-holding companies are deemed as non-CFC if they comply with…