Regulation Archives - IBCCS TAX LTD

Cyprus company tax company levy taxheaven offshore bitcoin

Government’s Plan for Tax Reform in 2022 – announcement of improve national taxation framework through the reduction of administrative burden associated with compliance.

Leave a Comment / Announcement, Cyprus, Economy, Regulation, Tax havens, Taxation, Uncategorized / grudzień 16, 2021 grudzień 17, 2021

The Minister stated that increasing corporate tax in Cyprus from 12,5% to 15% will not significantly affect the foreign investments in Cyprus. The main matter for the tax reformation to be examined are as follows: Increase of corporate tax from 12.5% to 15%; Reduction or abolition of the €350 annual company levy; Reduction of contribution …

Government’s Plan for Tax Reform in 2022 – announcement of improve national taxation framework through the reduction of administrative burden associated with compliance. Read More »

tax cyprus incorporationcompany ibccstax podatkizagraniczne offshore firmazagranica podatki

EU Corporations tax data to be unveiled to public

Leave a Comment / Announcement, Cyprus, Regulation, Taxation / Listopad 18, 2021 Listopad 18, 2021

The European Parliament announced on 11 November 2021 adoption of a CBCR directive (public country by country reporting). The new directive applies to multinational groups (MNE groups) operating in EU which revenues exceeds EUR 750 million within consolidated group. Tax related data of such groups should already be reported to Tax Authorities, but the directive …

EU Corporations tax data to be unveiled to public Read More »

crypto, bitcoin Casp cysec offshore incorporatecompany cyprus taxheaven trading tax

Crypto Asset Services Providers – registration with the CySEC

Leave a Comment / Announcement, Cyprus, Regulation / Listopad 11, 2021 Listopad 15, 2021

Crypto Asset Services Provider (CASP) established in the European Economic Area and registered with one or more EEA National Competent Authorities for the purpose of the Prevention and Suppression of Money Laundering and Terrorist Financing Law (AML/CFT Law) that delivers services in or from Cyprus, must formally register with the Cyprus Securities and Exchange Commission (CySEC). In …

Crypto Asset Services Providers – registration with the CySEC Read More »

cyprus ibccs.tax tax offshore rental income company incorporation tax heaven

10% additional tax for employees with „income other than employment income”

Leave a Comment / Announcement, Cyprus, Regulation, Taxation / Listopad 4, 2021 Listopad 4, 2021

On 19 October 2021, the Ministry of Finance, issued Interpretive Circular no. 54 (“Circular”), which concern of imposition of 10% additional tax for employees with income other than employment income. The circular reference to the provisions of article 26 of the Assessment and Collection of Taxes Law and article 24 of the Assessment and Collection …

10% additional tax for employees with „income other than employment income” Read More »

polski ład ibccs.tax cyprus companies tax heaven residency optymalizacja podatkowa kreatywna księgowość spółki offshore

Sejm przyjął Polski Ład. Zmiany w podatkach 2022

Leave a Comment / Announcement, Economy, Regulation, Taxation / październik 29, 2021 październik 29, 2021

Uwaga: Omawiane poniżej zmiany przepisów są w trakcie prac legislacyjnych. W dacie sporządzenia niniejszej informacji prace legislacyjne prowadzi Senat RP po czym projekt wraz z poprawkami zostanie przekazany na ostatnie, trzecie czytanie do Sejmu RP. Prezentowane zmiany mogą ulec zmianie a zamieszona informacja nie wskazuje wiążącego stanu prawnego od 1 stycznia 2022 roku. Polski Ład …

Sejm przyjął Polski Ład. Zmiany w podatkach 2022 Read More »

The European Union has agreed to remove Anguilla, Dominica, and Seychelles from its blacklist of tax havens. All three had previously been placed on the list because they did not fulfill the EU's tax transparency standards of being assessed as at least "largely compliant" by the OECD Global Forum in terms of information exchange on request. The delisting was preceded by the forum’s decision to grant these jurisdictions a supplementary review on this matter. Nine jurisdictions still remain on the EU list of non-cooperative jurisdictions (Annex I): • American Samoa, • Fiji, • Guam, • Palau, • Panama, • Samoa, • Trinidad and Tobago, • US Virgin Islands • Vanuatu. Anguilla, Dominica, and Seychelles are now included in the state of play document (Annex II) called also “grey list”, which covers jurisdictions that do not yet comply with all international tax standards but have committed to adopting tax good governance principles pending the allowed additional review. Costa Rica, Hong Kong, Malaysia, North Macedonia, Qatar and Uruguay have also been added to this document, while Australia, Eswatini and Maldives have implemented all the necessary tax reforms and have therefore been removed from it. Turkey continues to be mentioned in Annex II. In its conclusions of February 2021, the Council called on Turkey to commit to automatic exchange of information with all member states. Even though progress has since been made, further steps need to be taken. The Council revises its list of non-cooperative jurisdictions and an accompanying state of play document twice a year. This practice was formed in 2017 to promote global good governance in taxes and to alert member countries on which non-EU jurisdictions engage in abusive tax practices. They can then take defensive steps to protect their tax income and fight against tax fraud, evasion, and abuse. The criteria for listing are in line with international tax standards and focus on tax transparency, fair taxation and prevention of tax base erosion and profit shifting. The Council engages with the countries that do not meet these requirements, monitors their progress, evaluates, and updates this list on a regular basis.

EU set to remove Seychelles, Anguilla and Dominica from the Tax Haven Blacklist

Leave a Comment / Announcement, Companies, Regulation, Tax havens, Taxation / październik 14, 2021 październik 14, 2021

The European Union has agreed to remove Anguilla, Dominica, and Seychelles from its blacklist of tax havens. All three had previously been placed on the list because they did not fulfill the EU’s tax transparency standards of being assessed as at least “largely compliant” by the OECD Global Forum in terms of information exchange on …

EU set to remove Seychelles, Anguilla and Dominica from the Tax Haven Blacklist Read More »

DAC6 – Automatic Exchange of Information

Leave a Comment / Announcement, Companies, Cyprus, Regulation, Tax havens, Taxation / wrzesień 30, 2021 wrzesień 30, 2021

The Council of the European Union has adopted the Directive 2018/822 for amending the Directive 2011/16/EU as regards mandatory automatic exchange of information in the field of taxation. Genesis UE Member States find it increasingly difficult to protect their national tax bases from erosion as tax-planning structures have evolved to be particularly sophisticated. Such structures …

DAC6 – Automatic Exchange of Information Read More »

Employment and HR – Significant Changes in Cyprus

Leave a Comment / Announcement, Companies, Cyprus, Regulation / wrzesień 21, 2021 wrzesień 21, 2021

The Council of Ministers issued a set of regulations, published in the Official Gazette of the Republic of Cyprus on 3 September 2021, announcing that the application of the Social Insurance Regulations of 2017 shall become effective as of 13 September 2021. The said regulations will substitute the Social Insurance Regulations of 2010 as amended. …

Employment and HR – Significant Changes in Cyprus Read More »

Polski Ład Polish New Deal IBCCS TAX Cyprus

Nowy Ład – zmiany w PIT, CIT, VAT

Leave a Comment / Announcement, Companies, Economy, Regulation, Taxation / wrzesień 7, 2021 wrzesień 7, 2021

Przedstawiony projekt przepisów podatkowych w ramach Polskiego Ładu to 225-stronicowy dokument, w którym zawarto zmiany w różnych podatkach (PIT, CIT, VAT). Nowe przepisy, które częściowo będą obowiązywać już od 1 stycznia 2022 r. oznaczają też nowe ulgi podatkowe i modyfikacje tych istniejących. Prawodawca wprowadza również nowe definicje a także doprecyzowuje te już funkcjonujące. Poniżej nasza …

Nowy Ład – zmiany w PIT, CIT, VAT Read More »

CFC Controlled Foreign Company IBCCS TAX Cyprus

Controlled Foreign Company (CFC) Rule

Leave a Comment / Companies, Cyprus, Regulation, Taxation / sierpień 19, 2021 sierpień 19, 2021

Controlled Foreign Company Rules (CFC) were implemented in Cyprus following the approval by Cyprus of the EU Anti-Tax Avoidance Directive (ATAD), which may affect a variety of companies. Relatively limited number of companies may be affected whose profits are over € 750.000 annually provided their profits are not distributed as dividends up to 7 months …

Controlled Foreign Company (CFC) Rule Read More »

Regulation

Zapisz się do naszego newslettera