Cyprus/September 2015 With the governments all over the world clearly stating their decisiveness to develop and adopt stricter rules on taxation, it has become clear to the business world that simple structuring through zero taxed black listed companies will not…
Cyprus/September 2015 Insurance Taxation In almost all jurisdictions around the world, insurance premiums are subject to some form of taxation. Most of the time this taxation takes the form of VAT or a more specific insurance premium tax (IPT). Furthermore,…
Greece/August 2015 Following the mutual agreement between the Eurozone and Greece for opening the negotiations in regards to a possible future agreement on a new ESM programme, on 16th of July the Greek government adopted the bill 4334/2015. The law…
Bulgaria/August 2015 On 8th of July 2015, the Bulgarian Parliament ratified The Convention for Avoidance of Double Taxation concluded with the Kingdom of Norway. The convention shall apply to persons who are residents of one or both of the Contracting…
Cyprus/August 2015 The Government of Cyprus officially announced the tender for privatisation of the commercial activities of Limassol Port on 18 June 2015. The Ministry of Transport, acting as the Contracting Authority, invited all potential parties to register their interest…
Romania/August 2015 Individual investors, known as business angels, will benefit from tax incentives following the acquisition of shares through investments in small and micro-enterprises in Romania. Law no. 120/2015 regarding the stimulation of individual investors – business angels was published…
Montenegro/August 2015 Recently, the Government of Montenegro – Secretariat for Development Projects has issued a public announcement for awarding funds to foster direct investments. Accordingly, subject to conditions, any domestic or foreign company, legal entity or entrepreneur can apply for…
Bulgaria/August 2015 The Bulgarian government has proposed changes in the labor legislation the target of which is to create a more flexible, competitive and attractive labor market. The changes include 1-day labor contracts and hourly working rates. Until now, employers…
Bosnia and Herzegovina/August 2015 In order to control payment of contributions and salary taxes, the Government of Republic of Srpska has announced the possibility of introducing a control system. The proposed system will function through the commercial banks and will…
Greece/August 2015 This year will mark the start of taxation of benefits in kind in special cases. All income tax declarations this year will include benefits in kind that are taxable according to the new framework. Benefits in kind received…