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The Lithuanian government is actively discussing the possibility of increasing taxes for citizens in order to increase funding for the defense sector. Thus, corporate tax could increase from 15% to 16%. VAT rates may rise from 21% to 22%. Progressive income tax rates may be revised and some benefits removed. In addition, the rate for small companies may increase from 5% to 10% in order to place all businesses in fairer conditions. At the moment, all proposals are at the discussion stage and require detailed...

Philadelphia-based Republic First, which refused to negotiate financing with a group of investors, was seized by the Pennsylvania Department of Banking and Securities. Source:https://www.reuters.com/business/finance/us-regulators-set-seize-republic-first-bancorp-wsj-reports-2024-04-26/ To protect depositors, the Federal Deposit Insurance Corporation (FDIC) instructed Fulton Bank to take over substantially all of the deposits and acquire most of the assets of the failed Republic First Bank. As of January 31, 2024, Republic Bank had approximately $6 billion in total assets and $4 billion in total deposits. The FDIC estimates that the cost of his fund's failure would be $667 million. Republic Bank depositors will become Fulton Bank...

Remote workers from 38 countries can get special visas. Applicants must be between the ages of 21 and 55 with a college degree. Monthly income requirements are $3,000. To obtain a visa, you need to provide a diploma, an international passport, a contract or an employment contract with the company where the employee is employed (these cannot be Turkish companies), a photo and a document confirming a monthly income of $3,000 or an annual income of $36,000. The first stage of application is carried out using a special online service. After fulfilling all the requirements and receiving the "Digital Nomad Identification Certificate", the applicant can apply for a visa at the consulate or visa center. Nomads can stay in Turkey for one year with the possibility of...

The corresponding bill is already in the Verkhovna Rada, its ratification is expected. Prior to this, on February 19, 2024, during the Japanese-Ukrainian Conference on Economic Growth and Reconstruction, the Minister of Finance of Ukraine Sergei Marchenko signed the Convention between the Governments of the countries. This Convention is designed to improve partnerships between countries, as well as facilitate the process of economic cooperation. The convention regulates the rules of taxation, royalties, interest and dividends between countries. Tax rates on some income may be 5 or 10 percent, which may be beneficial for developing investment relationships. In addition, the Convention establishes rules for the exchange of tax information between...

This is officially indicated on the State Tax Service of Ukraine website. Source:https://tax.gov.ua/media-tsentr/novini/779389.html Poland – 25%, Great Britain – 13%, United States of America – 11%, Cyprus – 9%, Estonia – 7%, other countries – 35% were the main countries of registration of сontrolled foreign companies. According to data from the DPS, 11,391 controllers submitted 30,057 reports on 14,116 сontrolled foreign companies. Of which 9,988 Reports are in abbreviated form and 20,069 Reports are in full form. 11,143 individuals submitted 29,355 Reports on 13,755 сontrolled foreign compaies and 248 legal entities submitted 702 Reports on 361 сontrolled foreign companies. The amount of tax to be paid is 1,776 million...

The National Securities and Stock Market Commission (NCSC) and the German Federal Financial Supervisory Authority (BaFin) have entered into a partnership. Source:https://www.nssmc.gov.ua/posylennia-mizhnarodnoi-spivpratsi-nktspfr-ta-bafin-pidpysaly-memorandum/ Among the priority areas of cooperation were: prevention of fraud, supervision of virtual assets, financing of construction and investment funds in the construction sector, as well as requirements for financial reporting, alternative funds and non-state pension funds. The Chairman of the Commission, Ruslan Magomedov, is sure that the signing of the Memorandum is another step towards development for the Ukrainian capital market and its...

After a 6-year hiatus, Stripe is returning to cryptocurrencies, allowing merchants to accept stablecoins for online payments. Transactions will be instantly processed on-chain and automatically converted to fiat. Source:https://techcrunch.com/2024/04/25/after-6-year-hiatus-stripe-to-start-taking-crypto-payments-starting-with-usdc-stablecoin/?guccounter=1 In 2014, Stripe added Bitcoin support to its offerings. But already in 2018, the company abandoned cryptocurrencies, saying that crazy price fluctuations and higher commissions made them unsuitable for use as a form of payment. "We're excited to announce that we're bringing back cryptocurrency as a way to accept payments, but this time with a much better experience," said company President John Collison. Merchants will be able to accept payments in stablecoins as early as summer 2024, although this will initially be limited to USDC Circle on the Solana, Ethereum, and Polygon blockchains. "Cryptocurrencies are finding real use. Now that transaction speeds are increasing and costs are decreasing, we're seeing cryptocurrency finally make sense as a medium of exchange,” Collinson...

EU lawmakers voted on April 24 to create a promised EU anti-money laundering agency as part of a package that would also ban large cash payments across Europe. 482 participants voted “for”, 47 “against”. Source:https://www.euronews.com/my-europe/2024/04/24/meps-approve-new-anti-money-laundering-rules-but-what-do-they-cover The move, taken by MEPs in the last voting session before June elections, means new rules apply to football deals and cryptocurrency transactions as the bloc seeks to restore its reputation after a series of scandals in the financial sector. The new restrictions prohibit professional traders from accepting or paying more than €10,000 in cash. Some lawmakers argue it's an attack on financial freedom. One of the most thorny issues in the complex package is geographical: the question of where to locate the EU's new anti-money laundering agency. At this stage, the German financial center Frankfurt won. More than 400 of its employees will oversee dirty money in the bloc's 40 largest financial...

The so-called “silver” and “gold” licenses give the right to conduct commercial activities in the UAE for five or ten years. In this way, it is planned to increase the profitability of the state and provide additional opportunities for the economic development of the state. A corresponding meeting has already been held. The initiative is closely related to the “We the UAE 2031” strategy. The Minister of Economy believes that the UAE authorities are successfully working towards creating a favorable environment for doing business and investing in the country. By the end of 2023, about 788 thousand companies were already operating in the UAE. The government is confident that as opportunities for companies increase, reporting requirements should also...