Georgia/Ukraine 2015 Georgia is committed to develop its economy and bring its legislation closer to that of the European Union (EU). As a result, it has enacted changes in its legislation to facilitate trade and liberalize its tax regulations. A…
Ukraine/October 2015 Recent Ukrainian signs of economic stabilization evident in July and August 2015 prompted a discussion among economists about Ukraine’s ability to restore economic growth. Experts share the view that it is crucial to maintain the current balanced policy…
Serbia/October 2015 A draft Investment Act has been submitted by the Serbian Government to the Serbian Parliament on 2 October 2015. The aim of this piece of legislation is to formally equalize domestic and foreign investors and to guarantee the…
Montenegro/October 2015 Montenegro’s economy – a small and very open market – is characterized by extraordinary flexibility but also by great exposure to external shocks. Montenegro is highly dependent on tourism and Foreign Direct Investments. Additionally, it suffers from relatively…
Cyprus/October 2015 In an attempt to further increase the attractiveness of Cyprus to foreign investors, the Cyprus House of Representatives adopted a package of new tax incentives in July 2015. The new incentives include reductions in various duties and taxes…
Greece/October 2015 The European Central Bank’s decision not to increase the amount of emergency liquidity assistance to Greek banks on 28 June 2015 forced the Greek government to impose emergency capital controls. Greece reacted by shutting down its banking system…
Croatia/October 2015 Corporate Income Tax Act Amendments The amendments in the Croatian Corporate Income Tax Act introduce changes in the regulation of small entrepreneurs as well as impact the tax benefits for reinvested profit. In order to be subject to…
FYR Macedonia/October 2015 Within the last year, FYR Macedonia has been actively working on concluding and ratifying social security agreements with a number of countries. Bilateral agreements on social security are signed in order to facilitate nationals of one state…
Albania/October 2015 In May 2015, Albania initiated an international call regarding seven oil and gas onshore and offshore blocks. The Albanian competent governmental institution, the Albanian Agency of Natural Resources (AANR), has publicized the map featuring the free blocks for…
Cyprus/October 2015 On 13 May 2015, during the 24th Annual Meeting of the European Bank of Reconstruction and Development (EBRD) in Tbilisi, Cyprus signed an agreement with Georgia for the Avoidance of Double Tax Payment (‘’Double Tax Treaty’’). The agreement…
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