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  • Προθεσμίες για τους φόρους του 2016 στην Ελλάδα
    i. Στις 20 Ιουνίου είναι η προθεσμία για να δηλωθούν τα εισοδήματα που προήλθαν από μερίσματα, τόκους και επενδύσεις εκμεταλλεύσεις. ii. Τέλη Μαΐου η υποβολή ετήσιας δήλωσης φορολογίας εισοδήματος νομικών προσώπων. iii. Μέχρι 15 έκαστου μήνα γίνεται η καταβολή χαρτοσήμου για δάνεια που συνάφθηκαν και καταχωρήθηκαν στα λογιστικά βιβλία του προηγούμενου μήνα μεταξύ εμπορικών ή μεταξύ εμπορικών εταιριών, καθώς και μεταξύ εμπόρων ή εμπορικών εταιριών και...
  • Πιο γρήγορα και πιο εύκολα η σύσταση εταιρίας στην Ελλάδα
    Με το νόμο 4441/2016 (ΦΕΚ Α 27/6.12.2016) υιοθετήθηκαν διατάξεις με σκοπό την απλοποίηση και βελτίωση των διαδικασιών μίας στάσης για τη σύσταση επιχειρήσεων που καθιέρωσε για πρώτη φορά ο καταργούμενος νόμος 3853/2010(ΦΕΚ Α΄90). Στο πνεύμα αυτό εισήχθησαν η ηλεκτρονική (χωρίς ανθρώπινη επαφή) σύσταση επιχειρήσεων, καθώς και άλλες αλλαγές στις Υπηρεσίες Μίας Στάσης (ΥΜΣ) με στόχο τη μείωση του χρόνου και...
  • Ενδοομιλικές Συναλλαγές: Νέα ημερομηνία για την κατάρτιση Φακέλου Τεκμηρίωσης & ευνοϊκότερα πρόστιμα
    Σημαντικές αλλαγές προέκυψαν στο τοπίο των ενδοομιλικών συναλλαγών στην Ελλάδα. Συγκεκριμένα, ο φάκελος τεκμηρίωσης που αποτελείται κατά περίπτωση από το Βασικό Φάκελο Τεκμηρίωσης και τον Ελληνικό Φάκελο Τεκμηρίωσης, καταρτίζεται πλέον έως τη λήξη της προθεσμίας υποβολής της ετήσιας δήλωσης φορολογίας εισοδήματος και συνοδεύεται από τον Συνοπτικό Πίνακα Πληροφοριών ο οποίος υποβάλλεται ηλεκτρονικά στη φορολογική διοίκηση εντός της ίδιας προθεσμίας. Η...
  • Αξίζει η επένδυση σε ακίνητα στην Ελλάδα του σήμερα;
    Τα τελευταία επτά χρόνια, οι τιμές των ακινήτων στην Ελλάδα σημειώνουν σημαντική πτώση. Γεννάται λοιπόν το ερώτημα: Αξίξει τον κόπο μια επένδυση σε ακίνητο τώρα; Η αγορά ακινήτου στην Αθήνα τη συγκεκρινένη χρονική στιγμή στοιχίζει από 19 έως 33.000 ευρώ. Ένα ακίνητο λοιπόν, με 5.000€ κόστος αναπαλαίωσης, μπορεία να αποφέρει μέσω ενοικίασης, μηνιαίο εισόδημα ύψους 1000€. Αν το εβδομαδιαίο έσοδο...
  • OECD’s BEPS 13 implemented in Croatia
    With a total of 15 action points, the OECD’s Base Erosion and Profit Shifting (BEPS) project aims at fighting the artificial shift of profits from jurisdictions with high taxes to tax havens, often as a part of an entirely legal strategy used by MNEs. The BEPS Action 13 (Transfer Pricing Documentation and Country-by-Country Reporting) imposes to multinationals the so-called Country-by-Country...
  • Albania changes Hydrocarbons Law
    By adopting law no.6/2017, the Albanian Parliament amended the 1993 Law on Hydrocarbons (Exploration and Production). These last changes aim to make the law more easily applicable, as well as to bring it closer to the acquis of EU. The amendments also focus on safeguarding these important public assets. Law no.6/2017 dated 02.02.2017 includes several definitions which were not originally...
  • Clarifications published on dividends paid between Bulgaria and Moldova
    Moldova has recently clarified certain requirements related to the taxation of dividends distributed during the period 2008-2015 to residents of Bulgaria, in the context of the application of the double tax treaty concluded between the two countries in 1998. According to the treaty, Bulgarian residents who hold at least 51 % of the capital of a dividend-distributing Moldavian company are...
  • Ukraine lowers rate of tax on dividends
    The Parliament of Ukraine has decreased the personal income tax rate from 18% to 9% under certain conditions. It is expected that the law - adopted on 23rd March 2017 - will be applicable retroactively from 1 January 2017 for the following cases: - dividends coming into Ukraine from foreign sources accrued on shares, investment certificates and corporate rights; -...
  • Notional Interest Deduction, BEPS and Tax Structuring
    In 2015, Cyprus introduced the Notional Interest Deduction (‘NID’) in its tax law. The NID is notional interest deduction on new equity which can be set against taxable income generated by the company as a result of the funds from the new equity. NID is equal to the interest yield of the 10-year government bond yield of the country in...
  • Forex trading in Serbia: a brief legislative overview
    Forex trading in the Republic of Serbia is regulated by the Law on Capital Markets, the Law on Foreign Exchange Transactions and the Decision on Trading with Financial Derivatives. A Forex company provides demo accounts on certain platforms with real time info, enabling users to practice, while they open real accounts at foreign traders (partners of the Forex company in...
  • Double Tax Treaty between Iran and Hungary enters into force
    The first agreement on the avoidance of double taxation and prevention of fiscal evasion between Hungary and Iran entered into force on 1 January 2017. Iran has concluded more than 40 tax treaties but very few of them provide for zero withholding tax rates on rental income and consulting fees. Thus, this specific tax treaty can be a good platform...
  • Bulgaria amends VAT Law
    Recent important amendments to the Bulgarian Law on Value Added Tax (VAT) have become applicable as of January 1, 2017. The amendments are related to mixed supplies of assets and immovable property, tour operator margin scheme, obligation for VAT registration in case of inheritance as well as changes in the rules for supplies made by a person acting in his...
  • International Automatic Info Exchange to commence in 2017
    International automatic exchange of financial account information (AEoI) – an issue of global importance[1] closely discussed and analyzed by professionals and market players during the last year - is constantly evolving, and, thus, requires further analysis and attention. We have already provided the basics of AEoI and its global standard in previous articles while in this article we would like...
  • Serbia adopts amendments to VAT Law
    On December 28th, 2016, the Serbian Parliament adopted the Law on Amendments to the Law on VAT (Official Gazette of RS, No. 108/2016). The Law came into force on January 1st, 2017, and the greatest impact of this law will be felt by companies trading across borders. The most significant change is the amendment of the criteria for determining the...
  • National Bank of Ukraine simplifies currency control rules
    The National Bank of Ukraine has recently announced some changes in currency control rules. The changes were approved by the National Bank of Ukraine on February 23, 2017 and took effect from 25 February 2017. The National Bank adopted the below simplifications: - Cancelation of individual licenses for Ukrainian individuals from the National Bank of Ukraine - Simplification of foreign...
  • Cyprus: Startup Visa for Third Country Nationals
    On 15th of February 2017, Cyprus adopted the “Startup Visa” (Startup Permit Scheme) for third country nationals interested in residing and investing in innovative businesses in Cyprus. Specifically, it allows talented entrepreneurs from third countries (Non EU, Non EEA), be it individuals or group of investors, to reside in Cyprus and to establish and/or operate and develop their own innovative...
  • Goodbye back-to-back loans, welcome Transfer Pricing!
    The Cyprus Tax Authorities, taking into consideration the International developments (OECD/G20 initiative – BEPS) have decided to proceed with the alteration of the current tax regime in relation to profit margins on loans between related parties. Specifically, it is expected that as of 1st of July 2017, all loans between Cyprus Tax Resident Companies and their related companies, will now...
  • Double Taxation Treaty between Albania and Iceland becomes effective
    On 26th of September 2014, the Republic of Albania and the Republic of Iceland signed a treaty for the avoidance of double taxation and the prevention of tax evasion regarding income tax. This agreement was ratified by both countries and entered into force on the 6th of January 2016. Under the treaty provisions, its general implementation has begun as of...
  • Romania: Robust growth 2017-2018
    The winter 2017 Economic Forecast published by European Commission argues that the economies of all EU Member States are expected to grow in 2017 and 2018, even if the growth forecasts are surrounded by higher-than-usual uncertainty. The EC expects euro area GDP growth of 1.6% in 2017 and 1.8% in 2018. GDP growth in the EU as a whole is...
  • FYR Macedonia expects GDP growth despite political uncertainty
    Amidst political instability and with no Government in sight yet, the FYR Macedonian National Bank has stated it expects the country’s economic stabilization in 2017. The National Bank sold a 25 billion denar worth of 28-day bills at a rate of 3.25%, lower than the January rate of 3.50%, therefore effectively lowering the benchmark interest rate. The Bank has also...
  • Amendments to Profit Tax Law in Republic of Srpska of Bosnia and Herzegovina
    The National Assembly of the Republic of Srpska (RS) adopted amendments to the Profit Tax Law on 28 December 2016. The main changes have become effective as of 1 January 2017 and will be briefly presented in this article. With the amendments, the Law clarifies the definition of "taxable person" and harmonizes the concept of residence with the Profit Tax...
  • Tax debt payment plan introduced in Montenegro
    The Ministry of Finance of Montenegro and the Tax Administration of Montenegro have created a new program in the current tax system by way of tax incentive for companies with tax debt. The newly introduced program will facilitate payment of debt related to corporate income tax, personal income tax, social contributions, VAT and tax on real estate The relevant Law,...
  • Treaty between Georgia and Liechtenstein enters into force
    Georgia has increased its DTT portfolio to now count 54 countries following the addition of one more treaty entering into force in late 2016. The double taxation avoidance agreement signed between Georgia and Liechtenstein in May 2015 entered into force on 21 December 2016 and is effective as of the beginning of 2017. It aims at increasing economic cooperation between...
  • Ukraine’s new financial restructuring law enters into force
    On 14 July 2016, the Ukrainian Parliament adopted the Law of Ukraine “On Financial Restructuring” No. 1414-VIII (the “Law”) which, based on its transitional provisions, entered into force on 19 October 2016 and will remain valid for 3 years as of the day of its entrance into force. The Law introduces the procedure of voluntary financial restructuring of legal entities...
  • Georgian Free Industrial Zones
    Georgia nowadays is becoming an increasingly popular jurisdiction for investments and export – import transactions with CIS and EU countries. Among other factors, the attractiveness is also due to the absence of strict currency control rules and the availability of free trade regimes with European and other foreign countries. Additional advantages include the absence of corruption, the transparent conditions of...
  • AIFs سرمایه گذاری در ایران از طریق صندوق های سرمایه گذاری جایگزین قبرس
    صندوق هاي سرمايه گذاري جايگزين (Alternative Investment Funds - AIFs) در قبرس، به تازگي توسط قانون قبرس معرفي شده  است که امکان سودآوري بيشتر و استفاده از گستره وسيع تري از ابزارهاي مالي و استراتژي هاي سرمايه گذاري را نسبت به نهادها و صندوق هاي سرمايه گذاري سنتي فراهم مي سازد. عدم وجود محدوديت در مورد نوع صندوقي که AIFs...
  • افتتاح حساب بانکی در اروپا برای ایرانیان با تشریفات معمول بانکی, و بدون نیاز به اقامت
    مشکلات در ارتباط های بین المللی بانکی یکی از مسائل اصلی  پسا تحریم برای ایران بوده و کماکان بسیاری از بازرگانان و شرکت های بین المللی با آن دست و پنجه نرم می کنند. با گذشت بیش از یک سال از لغو تحریم ها و محدودیت های وضع شده توسط سازمان ملل و اتحادیه اروپا و امتناع بسیاری از بانک...
  • Opening a bank account in Europe for Iranians
    International banking has been of particular interest to Iranians during the post-sanction period in Iran. The focus on banking is still evident, with many businessmen and international companies on the lookout for viable solutions. More than a year has passed since the lifting of sanctions and restrictions imposed by the United Nations and the European Union and still many European...
  • Euro Parliament Approves Visa-Free Schengen Travel for Georgia
    Anticipated for a long time, the preliminary approval on visa- free regime for Georgia was given in December 2016 while on 2nd of February 2017 European lawmakers have ratified the visa liberalization, with a vote of 553 to 66 and 28 abstentions. EU diplomats have stated that the final European Parliament vote is expected at the next plenary session, on...
  • Službe za zapošljavanje u Hrvatskoj
    Zakonski okvir Osnovni zakoni koji reguliraju zapošljavanje u Republici Hrvatskoj su Zakon o radu, Kolektivni ugovori, Zakon o obveznim doprinosima te propisi o zaštiti prava zaposlenika. Poslodavci, zaposlenici i sindikati mogu ugovoriti radne uvjete koji su povoljniji za zaposlenika od onih propisanih Zakonom o radu, ali isto tako mogu biti ovlašteni ugovoriti i nepovoljnije uvjete. Plaća za rad je regulirana...
  • Hrvatska: Važna porezna reforma koja stupa na snagu u siječnju, 2017
    Prvog siječnja 2017 godine Hrvatska se suočila sa novim, preustrojenim poreznim sustavom, koji bi prema riječima Vlade trebao stati na kraj praksi čestih izmjena, te konačno postaviti temelje za investitorski atraktivno okruženje.  Vlada je pripremila sveobuhvatnu reformu izmjenom čak petnaest zakona vezanih uz poreze. Većina propisa stupa na snagu 1.1.2017. uz nekoliko iznimaka koje se počinju primjenjivati u 2018. ili...
  • Cyprus introduces installment payments for overdue taxes
    The Cyprus House of Representatives approved on Friday 27th of January 2017 a bill which provides for the payment of overdue taxes by monthly installments. The scheme covers income tax, VAT, special defense contribution, immovable property tax, capital gains tax, stamp duties, special contribution for employees, pensioners and self-employed persons, and inheritance tax. According to this new law the repayment...
  • Employment Services in Croatia
    Applicable Laws The main laws that regulate employment in the Republic of Croatia include Labour Acts, Wage Directives, Social Security Acts and Employment Protection Acts. Employers, employees and trade unions can stipulate working conditions more favourable to the employees than the ones prescribed by the Croatian labour acts as well as less favourable if authorised to do so. Labour wages...
  • Egypt to issue Executive Regulations of VAT law
    In anticipation from all concerned parties, the Egyptian Minister of Finance announced the issuance of the Executive Regulations of the Value-Added Tax law no. 67/2016 by the beginning of February 2017 after reviewing its draft by the People’s Assembly (the Egyptian Parliament) and approving it. The VAT law no. 67/2016 was issued early in September 2016 to repeal and replace...
  • Greek House Prices continue to drop; open doors to foreign investors
    House prices in Greece have been dropping for the last seven years, albeit now at a slower pace. This raises the question of whether it is worth investing in Greek real estate, at this time. Athens is an attractive market right now; one can buy apartments in Athens for as little as EUR 19,000-33,000, renovate them for EUR 5,000 and...