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Tag: taxes in Liechtenstein

Isle of Man notifies of mandatory electronic VAT filing

Isle of Man notifies of mandatory electronic VAT filing The Isle of Man’s Treasury has issued a notice that electronic VAT returns will be required from 1 April 2021. From April 1, 2021, legal entities and individuals registered as VAT payers will be required to submit VAT returns online and make payments electronically. Three-quarters of […]

Liechtenstein tax treaties with Germany and Switzerland

Liechtenstein tax treaties with Germany and Switzerland The Liechtenstein government approves protocols for tax treaties with Germany and Switzerland. On November 3, 2020, the Liechtenstein government approved for ratification the pending protocols to the 2011 income and capital tax agreement with Germany. This agreement between the states was signed on October 27, 2020. Similar protocols […]

Cyprus abolishes citizenship through investment program

Cyprus abolishes citizenship through investment program Cyprus announced that the controversial passport issuance scheme would soon be canceled following an investigation by Al Jazeera. This investigation showed that high-ranking politicians were ready to issue passports to convicted criminals. The Ministry of the Interior and Finance released a statement on Twitter that the Citizenship by Investment […]

Greece resumes its final beneficiary register

Greece resumes its final beneficiary register Greece announced that the three-month suspension of the UBO register expired on October 1, 2020. Greece previously suspended the UBO registry until June 30, 2020 due to the COVID-19 pandemic. This pause was extended for another three months in order to give individuals and legal entities more time to […]

Cyprus details guide to NID calculation

Cyprus details guide to NID calculation The NID concession was introduced in 2015 to provide tax incentives to companies using equity rather than debt capital to fund their investments. The NID deduction is available for Cyprus tax resident companies and permanent establishments of non-Cyprus tax resident companies that do business here. NID is an annual […]

Benefits of permanent residence in Cyprus

Benefits of permanent residence in Cyprus The Government of Cyprus, in its ongoing efforts to attract foreign investment, has taken a number of measures to enable non-EU citizens to obtain a Cyprus Residence Permit (PRP). A residence permit (permanent residence) is easy to obtain by purchasing real estate. The advantage of permanent residence in Cyprus […]

Cyprus celebrates its Independence Day

Dear Clients! The Hajivangeli team is pleased to inform you that tomorrow, October 1, Cyprus celebrates its Independence Day. Accordingly, our office will be closed. Normal operations will resume on Friday 02 October. Kind regards, Hajivangeli Team

Cyprus has updated its base rates for national interest deduction in 2020

Cyprus has updated its base rates for national interest deduction in 2020 The Cyprus Tax Department has issued a notice of publication of updated reference rates for Bermuda, Denmark, Jordan, Portugal and Switzerland regarding the determination of notional interest deduction (NID) for new equity investments. Note that as per the notice, base rates are increased […]

Amending Protocol to Tax Treaty between Cyprus and Russia

Amending Protocol to Tax Treaty between Cyprus and Russia The Ministry of Finance of Russia announced the signing of a protocol to amend the agreement on the avoidance of double taxation with Cyprus on September 8, 2020. The protocol will increase withholding income tax to 15 percent for dividends and interest income. The ministry said […]

Romania Authorizes Negotiation of Amending Protocol to Tax Treaty with Cyprus

Romania Authorizes Negotiation of Amending Protocol to Tax Treaty with Cyprus The Romanian government reportedly authorized negotiations and the signing of a protocol amending the 1981 income and capital tax treaty with Cyprus. This protocol will increase the withholding tax rate on dividends and interest to 15% (currently 10%). The protocol will be the first […]

Malta Releases Guidance On EU Anti-Tax Avoidance Directives

Malta Releases Guidance On EU Anti-Tax Avoidance Directives Malta’s Commissioner for Revenue published on 31 August 2020 a Domestic Legislation Guide for the implementation of the EU Tax Avoidance Directives. To date, the EU has issued two Tax Avoidance Directives known as ATAD 1 and ATAD 2. These include provisions that member states were expected […]