Cyprus Corporate Tax Rate Escalates to 12.5%

Recent financial reports have revealed that Cyprus has increased its corporate tax rate by the troika. For those who are unaware, the troika comprises of the three most powerful financial organizations in Greece. These are: the EC or European Commission, the IMF or the International Monetary Fund and the ECB or the European Central Bank. […]

Tax Avoidance in Zambia Denied by Associated British Foods

By Richard Watson. 11th March 2013. The owner of multi-million dollar clothes retailer Primark, Associated British Foods has rejected the claims to any immoral or illegal activities targeted towards the avoidance of tax following a globally functioning charity accusing the British firm of relocating its profits out of the Zambian grounds in order to trim down on […]

Cyprus’s Tax Integrity Defended by Shiarly in midst of EU pressure

With a firm stance on securing Cyprus’s future reputation as a finance and offshore company formation centre along with attaining an international package for bailout, Vassos Shiarly, the island’s Minister of Finance, boldly denied the claims about Cyprus voluntarily promoting the laundering of money and assisting tax evasion. Also, the Minister has fiercely rejected the […]

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German Economy Outdoes Growth Projections in Q2 but Outlook Remains Bleak

The growth of the German economy decelerated during Q2, in addition to one of the key sentiment indicators plummeting for the fourth consecutive month. The largest economy in Europe could be heading for a tough time in the near future unless the Euro Zone crisis is resolved quickly. At the same time, the rise in […]

French decision makers divided on 75% super tax on wealthy

Tasked with conjuring up a new version of the Socialist Government’s tax on top earners, which will meet with the approval of the country’s Constitutional Court, Italian Finance Minister Pierre Moscovici and Italian Budget Minister Jérôme  Cahuzac already appear divided as to the exact modalities of the future levy. Finance Minister Moscovici recently underlined the necessity to maintain […]

Liechtenstein and Singapore sign preliminary double taxation agreement

Following the successful conclusion of negotiations, delegations from Liechtenstein  and from Singapore have recently initialled a bilateral double taxation agreement  (DTA) between the two countries in the area of taxes on income. According to the Liechtenstein government, the DTA largely follows the Organization   for Economic Cooperation and Development’s Model Convention, offering   an advantageous legal framework […]

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Austria Extends Commuter Tax Break

The Austrian government has recently united on plans to extend the existing   commuter tax break, to ensure that the provision is fairer for both part-time   workers and for low-income workers in Austria. Despite calls by the Social Democrats (SPÖ) for the distance-based commuter   tax allowance system to be replaced by a tax deduction, the coalition […]

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French Deputies Back Year-End Collective Budget

The French National Assembly has recently adopted during a first reading the country’s  2012 supplementary finance bill, which constitutes a key stage in the government’s  overall plan to strengthen the fight against tax fraud and tax optimization. The third supplementary finance bill for 2012 was adopted by 295 votes to 230. Commenting on the vote, […]

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