Telegram Channel
Generic selectors
Exact matches only
Search in title
Search in content
Search in posts
Search in pages
Generic selectors
Exact matches only
Search in title
Search in content
Search in posts
Search in pages
  • Contacts
    • Generic selectors
    Exact matches only
    Search in title
    Search in content
    Search in posts
    Search in pages
    Only letter and space (from 2 till 30 characters)
    Enter correct number, ex. +380777777777

    Tag: #Financial statements

    Analysis of exchange of tax information and investment in exchange for citizenship, taking into account the first results of the discussion organized by the OECD

    Published: Вячеслав Иваненко | 24.05.2018 | blog

    Back in the first quarter of 2018, namely on February 19, 2018, a draft of advisory document was published on the official website of the Organization for Economic Cooperation and Development (OECD), which called on all interested parties to join the discussion on the OECD strategy for combating the loopholes on using the Common Reporting Standard (CRS, Single standard of tax information exchange) in the “citizenship by the investment” (CBI - granting citizenship in exchange for investments) and “residence by the investment” (RBI - granting a residence permit in exchange for investments). To date, more than 70 jurisdictions in the world offer these schemes. On April 17, 2018, a 96-page document was published on the OECD website (PUBLIC INPUT RECEIVED ON MISUSE OF RESIDENCE BY INVESTMENT SCHEMES TO CIRCUMVENT THE COMMON REPORTING STANDARD), which, in fact, summarized the first results of the discussion and the contents of the official letters to the organization. More than 20 structures were the speakers, including: AFME office in London (Association of Financial Markets in Europe, it brings together the largest agents in the capital markets in the region); Italian...

    Latvian banks demanded the Ukrainian to disclose tax information

    Published: Sergey Panov | 14.06.2016 |
    Rigensis Bank

    Ukrainian clients of Latvian banks have received letters demanding to talk about his tax residence. These data are the local State Revenue Service promises to transfer FTS. Latvia Banks sent Ukrainians requirements to disclose tax and financial information about themselves. In one of these letters, which received a bank customer Rigensis (have RBC), said that since January 1, 2016 Latvia acceded to the standard automatic exchange of financial information (Automatic Exchange of Information or AEOI). In a letter to his client Rigensis Bank warns that it must pass the data of the State Revenue Service of Latvia (SRS). And that, in turn, is obliged to send this information to the tax authorities of the relevant jurisdiction. In other words, in those countries where the owners Rigensis bank accounts - tax residents, written in the letter. The first reports on the new (opened in 2017) and large accounts (balance at 31 December 2015 of more than $ 1 million) Rigensis transmit SRS in 2017, stated in the letter. For all the rest - in 2018. At the same time Ukraine is likely to begin to exchange tax information with Latvia within the AEOI, said in response to the SRS request RBC...

    Canada has signed an agreement on international reporting

    Published: Sergey Panov | 17.05.2016 | news
    International reporting. Canada

    Canada has signed a multilateral agreement on reporting between countries. The first exchange of information is expected to be held in June 2018. Budget Canada 2016 includes a proposal to require companies with annual revenues of the consolidated group of USD 750 million or more, to submit annual reports on their income and taxes paid and accrued on the number of employees, capital, retained earnings and tangible assets for each tax jurisdiction in which they do business. Canada has the opportunity to share the information contained in the reports with tax treaty partners which also comply with the necessary standards of accountability. According to the Agency Revenue Canada, this information will allow countries to improve their ability to check and detect aggressive international scheme of tax evasion, as well as contribute to making global operations affected companies more transparent and that they pay the relevant taxes in the country which is generated by their profit. Currently 32 jurisdictions have signed the agreement on the international exchange of information. Canada noted that the signing of the agreement is part of a four-point action plan to address tax...

    2016 Singapore budget announced

    Published: Sergey Panov | 11.04.2016 | news
    Сингапур. Бюджет

    Singapore’s Minister for Finance delivered the 2016 budget statement on 24 March 2016. The budget’s goals include transformation of the economy through enterprise and innovation. A number of measures would benefit small and medium-sized enterprises, including an enhancement of the corporate income tax rebate. The relevant tax proposals that would affect businesses also include changes to tax incentives (including the expansion and extension of several incentives) and measures affecting intellectual property rights. An automation support package would be introduced to support companies’ efforts to automate, increase productivity, scale up and expand overseas. It would offer a 100% investment allowance for qualifying capital expenditure of up to SGD 10 million per project, and grants of up to SGD 1 million and enhanced financing support also would be available. It is unclear if all the proposed benefits could be applied at the same time, and the effective date for the measures is yet to be announced. No changes are proposed to the corporate income tax rate (17% with a partial tax exemption on a company’s first SGD 300,000 of normal chargeable income), but the corporate...