COVID–19 AND THE PERFORMANCE OF CONTRACTUAL OBLIGATIONS
Introduction Unfortunately, the outbreak of the corona virus has created devastating effects on everyday lives, caused significant disruption to businesses and impacted on global markets, trade and commerce. The virus, now classified as a “pandemic”, has led governments issuing emergency measures including, but not limited to the restriction in movement as well as temporary closure …
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TAX INVESTIGATIONS ON CROSS BORDER STRUCTURES FROM FOREIGN TAX AUTHORITIES
WHAT A TAXPAYER SHOULD EXPECT Introduction The last financial crisis changed the landscape around taxes throughout the world. The world has moved to greater transparency and additional measures were introduced in order to combat tax evasion and tax avoidance.
Cyprus and DAC6
The Directive (EU) 2018/822 expand once more the provisions of the Directive 2011/16/EU – Directive on Administrative Cooperation (DAC), regarding mandatory automatic exchange of information in the field of taxation in relation to reportable cross-border arrangements. The Directive (EU) 2018/822 represents the 6th modification of DAC, and for this purpose it is called DAC6.
Transfer Pricing in Malta
The tax environment has experienced significant changes the past years, in view of the international consensus to combat harmful tax practices. Countries around the world are collaborating to improve the coherence of international tax rules and ensure a more fair tax environment, through the OECD recommendations.
Renegotiating the Cyprus Russia Double Tax Treaty – Suggestions
CHANGES REQUESTED BY THE RUSSIAN FEDERATION As it is known already, the Russian Federation has sent an official notification to the Republic of Cyprus asking for the renegotiation of the Double Tax Treaty (DTT) agreement between the two countries. In effect the Russian Federation is requesting to increase the withholding tax rates on dividend income …
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Data Protection in the Employment Sector During Covid-19 Outbreak in Cyprus
Over the past few weeks, we have witnessed governments, public authorities as well as private organizations and companies within the EU, taking measures to contain the pandemic outbreak of Covid-19. Such measures have inevitably affected the processing of special categories of personal data especially with the context of employment.
Covid-19 is «pushing» for the use of Electronic Signatures
As the epidemic of the Covid-19 spreads around the globe, more and more professionals are required to work from home, a situation that leads to new challenges, one of which being the signing of documents. In order to tackle such an issue, more and more businesses are now using electronic signatures for the completion of …
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OECD releases Transfer Pricing Guidance on Financial Transactions
On the 11th of February OECD released the final Transfer Pricing guidance on financial transactions (the Report). The existing OECD TP Guidelines ( the Guidelines) will be updated to include these new guidelines which are expected to contribute to the avoidance of transfer pricing disputes and double taxation.
DOUBLE TAXATION – Dispute resolution mechanism between EU member states
INTRODUCTION The House of Representatives of the Republic of Cyprus has recently voted for the amendment of the Taxation of Income Law 118(I)/2002 (the ‘Law’) in order to be harmonized with the EU Directive 2017/1852 on tax dispute resolution mechanisms in the EU (the ‘Directive’).
Rent Control Law (Law no. 23/1983) – Recent amendments on eviction for non – payment of rent
Ι. Introduction In order to speed up procedures for eviction of tenants for purely reasons of non – payment of rent parliament has recently passed a law amending the Rent Control Law of 1983 (hereinafter referred to as the “Law”) which came into effect on the 31 January 2020.