- Cyprus: the deadline for the introduction of a fine for late filing of a declaration on the HE32 form has been postponed
- Electronic Register of Beneficiaries in Cyprus: start date of collection of information of beneficiaries has been postponed
- Cyprus Authorities presented the new portal for online payments of the social insurance contributions
- Electronic Register of Beneficiaries in Cyprus
- EU list of non-cooperative jurisdictions for tax purposes was updated
- Corporate administrators can provide a new type of service
- Russia and Cyprus: Tax Agreement on New Terms
- Tax Residency in 90 Days
- Cyprus: Since 1 of July Contributions to the GESY Fund Have Increased
- Cyprus: Changes in the Rules of Notional Interest Deduction
The OECD has published the results of automatic exchange of information on financial accounts in 2020
July 14, 2020
The CRS requires countries and jurisdictions to exchange information about non-residents’ financial accounts received from their financial institutions annually, which reduces the probability of tax evasion in offshore zones. Many developing countries have joined the process, and more countries are expected to join in the coming years.
In 2019, almost 100 countries carried out an automatic exchange of information, which allowed their tax authorities to obtain data on 84 million financial accounts located in the offshore zones of their residents. The total amount of assets was 10 trillion euros.
The results of 2019 showed a significant increase compared to 2018, when information was exchanged in relation to 47 million financial accounts totaling 5 trillion euros.
For more information read the official source: http://www.oecd.org/tax/international-community-continues-making-progress-against-offshore-tax-evasion.htm
January 24, 2020Professional Tax – new tax for Cyprus companies
At the end of 2019 Cyprus municipalities introduced a new tax for Cyprus companies called Professional Tax.
May 18, 2020CRS and FATCA: extension of reporting deadlines
In 2020, the deadlines for submitting financial statements in accordance with CRS and FATCA standards has changed.
February 24, 2019Amendments to Cyprus Company Law
The Cyprus Department of Registrar of Companies and Official Receiver (ROC) announced amendments to the Cyprus Company Law.
April 15, 2020Professional consulting support of our specialists
Taking into account the current situation, our clients have a lot of different issues that require professional consulting support on-line.
February 17, 2020OECD has published a consultation document on the review of Country-by-Country Reporting
OECD released public consultation document that is based upon the mandate set out in the BEPS Action 13 report, and focuses on issues concerning the use of CbC reports by tax administrations for the purposes of a high level transfer pricing risk assessment. The public consultation document [...]
December 03, 2019Happy Lawyer’s Day!
December 3 is the lawyer's day in Russia. Congratulations to our colleagues on their professional holiday!
December 18, 2019New penalties for late submission of HE32
As we reported earlier, the Cyprus Registrar of Companies has introduced new penalties for the late submission of the Company Annual Return (HE32), effective from the 18th of December 2019. Please note that the deadline for submission of Company Annual Return (HE32) was extended until A [...]
April 13, 2020Communication tools with Korpus Prava specialists
Currently, when most of us work remotely, we would like to inform you once again that all specialists of Korpus Prava remain in touch.