The Group of Seven (G7) rich nations have recently reached a landmark deal for the creation of a global minimum corporate tax rate of 15%. The tax rate would be used to target mainly the largest and most profitable multinational companies (“MNCs”) such as Amazon, Apple, Google, Facebook, and discourage them from shifting profits and […]
Over the past few years, increasing amounts of people from all over the globe have left their stressful, or unfulfilling desk jobs, opting for the “digital nomad” lifestyle. Working as a digital nomad is a great option for a number of reasons: you can be your own boss, work less hours, and of course, live […]
On 6 October, 2020 the EU Council has issued a press release dedicated to the regular update of EU list of non-cooperative jurisdictions for tax purposes. This time Anguilla and Barbados have been listed, Cayman Islands and Oman have been de-listed.
The OECD Forum on Harmful Tax Practices (FHTP) has published the peer review results on countries’ progress in implementation of the BEPS Action 5 Minimum Standard (“Countering harmful tax practices more effectively, taking into account transparency and substance”).
The EU received approval from finance ministers of its member states in November to set up an anti-money laundering watchdog with the authority to directly interfere with national jurisdictions if it finds that they have failed to comply.
On 11 November the Federal Council announced the entry into force of an amendment to the Ordinance on the International Automatic Exchange of Information in Tax Matters from 1 January 2021. The amendments follow the recommendations of the Global Forum on transparency and exchange of information for tax purposes.
A number of changes related to the transfer of shares of private limited companies entered into force in May and August this year. The main purpose of the changes was to simplify the transfer of shares and to make it foremost easier for foreigners to invest in Estonian start-up companies. Other companies can also take advantage of new opportunities, but there are also risks involved.
Legal Notice 110 of 2019 has introduced the possibility of income tax consolidation in Malta. The said Legal Notice introduces the Consolidated Group (Income Tax) Rules, 2019, as subsidiary legislation to the Maltese Income Tax Act, Chapter 123 of the Laws of Malta.