Jowita Jablonska

In December 2021, the European Commission published the first proposal for the Anti-Tax Avoidance Directive 3 (ATAD 3). Its goal is to tackle the abuse of companies that do not carry out any economic activities – …

Jowita Jablonska

As of November 1, 2023, the Trust Company of the Marshall Islands has implemented a penalty fee of USD 500 for entities failing to adhere to Economic Substance Reporting (ESR). This move comes as part of …

Jowita Jablonska

The United Arab Emirates is no longer a zero-tax jurisdiction. We were informing about this major shift in our article, back in June 2023: https://ibccs.tax/announcement/uae-corporate-tax/ Certain exemptions apply, however many of the businesses will now pay …

Jowita Jablonska

We are highlighting 10 changes in laws and regulations that came into force this year or are expected soon.   1. Introduction of 15% Global Minimum Tax At the end 2022, the Council of the EU …

Jowita Jablonska

Transfer pricing is a very important and current topic in tax planning – effective as from January 2022 in Cyprus, with some amendments that have just been announced by the Tax Department. In brief, the concept …

Jowita Jablonska

In Cyprus the real estate is booming. We observe a growing number of investments– especially in properties destined for rentals. When owning a rental property, it is crucial to know and understand the tax implications of …

Jowita Jablonska

On November 30th 2023, Cyprus Parliament approved important changes on the Article 111 of the Population Register Law of 2002 (141(I)/2002. The amendment allows highly skilled professionals to apply for Cypriot citizenship already after residing in …

Jowita Jablonska

Cyprus companies are required to apply a temporary tax assessment  of their 2023 chargeable income under the Cyprus Income Tax Law. We would like to remind about the upcoming deadline for submission of the 2nd declaration …

Jowita Jablonska

The Department of the Registrar of Companies and Intellectual Property in Cyprus announced the start of the application of the final solution for the Register of Beneficial Owners from November 14, 2023. The final solution of the electronic system …

Benji

As per the Social Insurance Law in Cyprus, starting January 1st, 2024, both employer and employee will be required to contribute an additional 0.5% to the Social Insurance Fund. Therefore, contributions will increase from the current 8.3% to …