A new law on Income Tax was recently approved in Albania aiming to reduce fiscal burden for all employees and provide a fairer and universally accepted tax system. As of 01 June 2023, and until 31 December 2023 non-taxable income…
In 2022 – 2023 basic reserve currencies decreased in comparison to the Georgian Lari respectively: EUR-21%, GBP-25%, CHF-17% and USD-19%. The chart shows the dynamics of these currencies over the previous 15 months in Georgia: Apparently, GEL has been resistant…
The European Directive has adopted the Pay Transparency Directive proposed by the European Commission in March 2021 enshrining the right to equal pay for male and female workers for equal work or work for equal value, a fundamental principle set…
Another change in the minimum wage which will be applied to all employed and self-employed citizens within the country, was recently decided in Albania. The new minimum salary, starting from April 2023, will be 40,000 ALL. This increase of 17%…
Strategically located in the eastern Mediterranean, Cyprus has been a robust investment hub throughout the years, an infallible European partner providing targeting, innovative business solutions and an enthralling destination for relocating international corporate headquarters. A significant increase, more than 50…
The launch of the TFA platform will commence (stage 1) on the 27 March 2023. As of then all tax obligations relating to VAT will be processed through the TFA platform exclusively. Due to that transition the Tax department has…
The Banking industry through a time of constant development, is ready to welcome a new revolutionary way on how to open a bank account within the European Union. The ultimate objective behind this decision is the contribution towards the establishment…
In October 2022, a “Directive of the European Parliament and of the Council on adequate minimum wages in the European Union” was approved to improve living and working conditions in the Union and, more particularly, the adequacy of minimum wages…
Further to the UAE’s cabinet decision no. 85 of 2022 on the determination of tax residency, the Ministry of Finance announced a Ministerial Decision (no.27 of 2023) setting out certain provisions that add clarity in determining tax residency. Legal entities…
We are already used to making substantial changes and additions to the main tax laws every year. With this year being no exception, we will describe below the most important changes coming into force at the beginning of 2023. I….