This is a kind reminder regarding the second and final installment of the temporary tax return for the year ended 31 December 2018.
Treaty between Russia and Cyprus-Russian MoF clarifies dual tax residence status of individuals
On 19 September 2018, the Cypriot Tax Department issued an announcement clarifying that Constituent entities with a Cypriot Ultimate Parent Entity (UPE) will not be subject to local filing in their jurisdiction of tax residency, given the relevant CbC Multilateral Competent Authority Agreement (MCAA) is activated between Cyprus and the other jurisdiction.
Treaty between Russia and Cyprus – Russian MoF clarifies dual tax residence status of individuals
The Russian Ministry of Finance provides guidance on the dual tax residency status of individual tax payers.
2018 HLB Asia Pacific conference in Colombo, Sri Lanka
HLB’s recent 2018 Asia Pacific conference in Colombo, Sri Lanka was attended by 60 delegates from 20 HLB network countries. The conference was hosted by HLB’s local member firm Nihal Hettiarachchi & Company.
Talent scarcity: A top threat to business growth in the CEE region
When you ask business leaders across the globe what’s high on their agenda, chances are recruiting and retaining top talent is on the list. For countries within Central and Eastern Europe (CEE), finding the right talent is an even greater worry. Economic growth in this region is outperforming the EU average and businesses are growing fast. At HLB’s recent CEE regional meeting in Budapest, talent scarcity was identified as a top threat to business growth. We took a snapshot survey among finance and accounting graduates from Poland, the regions largest economy, in an attempt to better understand the views and expectations of young talent entering the CEE labour market. What are the take-aways for business leaders? What can businesses do to attract graduates and young professionals?
HLB hosts annual audit & tax conference in Frankfurt, Germany
HLB, the global advisory and accounting network with presence in 150 countries, hosts annual audit & tax conference in Frankfurt – Germany, bringing together 215 professionals from 37 countries.
Extended deadline for 2017 personal tax returns
The amended articles provide that the deadline for the submission of the personal income tax returns (T.D1s) for employees as well as for self-employees (who do note prepare audited financial statements) and the final tax payment for 2017 has been extended until 31 October 2018.
Double Tax Treaty between Cyprus – Andorra
May 18th 2018: A Convention for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with respect to Taxes on Income was signed between the Republic of Cyprus and the Principality of Andorra.
Publication on substance
“Substance” is a well-known tax concept used in cross-border tax structuring. The term “substance” does not appear in the actual text of double tax treaties (DTTs).
Cyprus-Russia – Thin Cap Rules
The Russian courts issued a decision on 6 March 2018 (case OJSC SUEK-Kuzbass) on the application of the Double Tax Treaty between Cyprus and Russia of 1998 as amended in 2010 (the ‘DTT’). Based on the decision interest expense was considered as non-tax deductible in accordance with the Russian thin capitalization rules.
