Recent News

Ibrahim Tasyapan, Director General of the Civil Registry and Citizenship Department, explained that the department has increased security checks to include a two-stage Interpol check. The check also includes investigations by the National Intelligence Organization and the General Directorate of Security. He stressed that “there is also a condition of connection with the intelligence unit of the applicant’s country of citizenship.” The increased complexity of the process will not affect the number of documents required for an investor, but it may affect the timing of...

Fabian Picardo delivered a budget message based on which tax changes are coming to Gibraltar. It is about raising the corporate tax rate to 15% and also introducing VAT. Thus, Gibraltar plans to bring the rate in line with the OECD minimum corporate tax rate. Such a decision will increase tax stability and compliance with international standards. The bill on VAT should be presented already in September. In addition, the Government of Gibraltar will work on implementing the income inclusion rule in...

The Government allows for an increase in military duty and a number of innovations. The Verkhovna Rada must vote for the proposals. Legislators are considering establishing a special excise tax rate of 0.1 euros per 1 liter of drink. This includes both mineral waters and drinks with added sugar or sweeteners. In addition, discussions are being held about monthly contributions of half the minimum wage for fuel retailers. Military duty may also be charged in a new way. 1% for legal entities from income from any activity, corporate income tax payers and single tax payers of groups 3 and 4. 5% for individuals - entrepreneurs, single tax payers of the first, second and fourth groups. 15% for enterprises, institutions, organizations and individuals who acquire ownership of passenger cars subject to the first state registration in Ukraine. 30% for those engaged in the retail trade of jewelry made of gold, platinum and precious...

The OECD has already decided to start accession negotiations. Thailand is the second candidate for membership from Southeast Asia. Thailand actively participates in the OECD Regional Program for Southeast Asia. The OECD Secretary-General considers Thailand one of the most dynamically developing regions in the world. Joining the OECD could help increase Thailand's investment attractiveness. The Secretary-General must prepare a road map for accession, and Thailand will be subject to a 20-point check for...

The bill, which contains tax cuts, was published on July 17. It is proposed to reduce the corporate tax rate from 17% to 16%. And also reduce the tax rate for income not exceeding 175,000 euros from 15% to 14%. And the combined consolidated rate for companies established in Luxembourg may decrease from 24.94% to 23.87%. The reduction will be available for tax years beginning on or after January 1,...

Before this, it is planned to adopt a new law in the area of ​​the financial sector to attract foreign capital and investment in the economy. The bill could be introduced into parliament as early as the end of this year. The document provides for the creation of a new body - an agency for integrated financial services. The agency will regulate and license foreign companies to operate in Thailand in key financial areas - banking, securities and derivatives markets, digital assets and insurance. He will also work on various services for foreign businesses and deal with tax...

The bill introducing the new Patent Box regime in Hong Kong was passed on June 26, 2024. According to the bill, qualifying income will be taxed at a rate of 5%. The law will have retrospective effect for fiscal years ending on or after April 1, 2023. The concessional portion of taxable income from intellectual property will elect to be subject to a preferential tax rate of...

The zero VAT rate on basic goods, meat and vegetables will apply until September 30, 2024. Prior to this, the rate was extended until June 30, 2024. The zero rate applies to essential goods from 5 May 2023, with the exception of coffee and sugar, which are zero rated from 1 November 2023. The Cypriot government was in thought for a long time, conducting internal assessments. Adopting different VAT rates often places a large burden on businesses and tax authorities. And sometimes it even expands the possibilities for abuse on both...

Following consultations, Hong Kong's Financial Services and Treasury Bureau has published a legislative proposal for a company redomiciliation regime in Hong Kong. Redomiciliation is the transfer of a company's registered office from one jurisdiction to another without ceasing operations in the original country. The proposed regime will, in the future, apply to all five types of companies that can be registered in Hong Kong. The redomiciliation provisions will need to ensure that, upon successful completion of the process, the company retains its identity. It is understood that no new legal entity will be created during this process. A redomiciliated company will have the same rights and obligations as another registered company of the same type in Hong Kong and will be required to comply with the relevant legal requirements as any other...