Many actual and prospective investors around the world find it surprising that the banking sector of Cyprus is experiencing a drastic downfall. Although there are several economies that have faced severe recessionary phases, the economic crisis of Cyprus comes as a surprise because of it prosperous history among foreign entrepreneurs. While Cyprus was known to […]
Category Archives: CRW
Information on Company formation
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. […]
Described by Chancellor George Osborne as a headline rate that’s dramatically lower rather than just being lower than that of their competitors and the largest continual business tax price reduction for an entire generation, the plan, along with two additional reductions was to be executed within the next two fiscal years, leading to a corporate […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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, […]