- Corporate administrators can provide a new type of service
- Russia and Cyprus: Tax Agreement on New Terms
- The OECD has published the results of automatic exchange of information on financial accounts in 2020
- Cyprus: Since 1 of July Contributions to the GESY Fund Have Increased
- Cyprus: Changes in the Rules of Notional Interest Deduction
- Cyprus Government continues to actively support business
- The European Commission steps up fight against money laundering and terrorist financing
- CRS and FATCA: extension of reporting deadlines
- CySec: Changes of the Due Date for Some Obligations in Cyprus
- Communication tools with Korpus Prava specialists
Tax Residency in 90 Days
August 10, 2020
At the beginning of the pandemic, the Organization for economic cooperation and development recommended that countries change their legislation so that isolation does not affect tax residency.
Following the recommendations, on July 31, 2020, the President of the Russian Federation signed amendments to the Tax code, which establish, among other things, new rules for obtaining tax resident status in Russia in 2020.
Thus, an individual who is actually located in the Russian Federation from 90 to 182 calendar days inclusive during the period from January 1 to December 31, 2020, can be recognized as a tax resident of the Russian Federation in the tax period of 2020.
A condition for recognition is that such an individual submits an application drawn up in any form to the tax authority at their place of residence.
The specified application must contain the surname, first name, middle name and taxpayer identification number, and must be submitted to the tax authority within the deadline for submitting the personal income tax return for the period 2020.
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 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 [...]
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.
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 23, 2019As part of AI’s 2019 Leading Adviser Awards Korpus Prava has been recognised as Leading International Tax Planning Lawyer of the Year in Russia
In 2019 Korpus Prava was recognized as a Leading Law Firm in the field of International Tax Planning in Russia.
November 28, 2019Corporate changes on Cyprus
As of 18/12/2019, further penalties shall apply with regards to the submission of the following Notices to the Department of Registrar of Companies and Official Receiver: Notice of change of Registered Address (HE 2): Every submission beyond the time-frame prescribed by t [...]
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.