Newsroom

FEBRUARY 28, 2024

Georgia’s Pension Evolution: From Mandatory Participation to Tailored Investment Strategies

The Georgian pension scheme mandates the participation of all permanent residents who, as of August 6, 2018, have attained the age of 60 for men and 55 for women. While obligatory for this...

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FEBRUARY 28, 2024

Disciplinary Codes in Cyprus: Ensuring Order, Compliance, and Effective Workplace Management

Termination of employment in Cyprus is a matter of significant concern for both employers and employees in the business sector. Instances arise where legal disputes ensue, often involving allegations...

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FEBRUARY 28, 2024

Cyprus Grants Extension for Corporate Income Tax Filing Deadline

On 23rd February 2024, the Cyprus Official Gazette published a noteworthy Decree, signaling a meaningful change in taxation. The Decree revolves around the extension of the filing deadline for...

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FEBRUARY 27, 2024

Republic of Srpska’s Economic Transformation: A Dive into Minimum Wage Policies and Worker...

On January 1, 2024, the Government of the Republic of Srpska took a decisive step by increasing the minimum wage to 900.00 BAM net. This decision was driven by the notable impact of inflationary...

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FEBRUARY 27, 2024

Pathways to Success: Strategies for Companies Tapping into Bulgaria’s Labor Market

An increasing number of savvy companies are setting their sights on Bulgaria’s vibrant labor market, attracted by the diverse opportunities for growth and investment the country has to offer....

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FEBRUARY 27, 2024

Building Trust in AI for Businesses: Main Takeaways from Eurofast Group

As a leading provider of advisory and corporate services across diverse jurisdictions within the European Union, Eurofast Group remains committed to navigating the evolving landscape of AI trends in...

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FEBRUARY 26, 2024

Fund Administration Trends 2024: Main Takeaways from Eurofast

In 2023, private equity fund administrators in Cyprus underwent a transformative year marked by a heightened focus on data collection, regulation, and the adoption of co-sourcing, themes that will...

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FEBRUARY 22, 2024

Easing Financial Penalties: Cyprus Parliament Approves Significant Amendment

On the 15th of February 2024, the Plenary of the Cyprus Parliament ratified a noteworthy amendment to the Companies Law (Cap.113), signifying a pivotal shift in the financial penalties imposed on...

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FEBRUARY 22, 2024

Bulgaria: New Measures against Money Laundering on the Verge of Implementation

On February 16, 2024, the Bulgarian State Gazette published Ordinance No. H-1, issued on February 6, 2024, which delineates the requirements for inclusion in a Public Register administered by the...

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FEBRUARY 22, 2024

The Impact of EU Regulations on Funds Administration in Cyprus

As a member of the European Union (EU) since May 2004, Cyprus is bound to adhere to the regulatory frameworks set forth by the EU, encompassing critical areas such as Anti-Money Laundering (AML)....

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FEBRUARY 13, 2024

Albanian Tax Authorities Advocate for Code Updates and Compliance

The Albanian Tax Authorities have issued a critical call to taxpayers with turnovers up to 14 million ALL, urging them to update their economic codes of activity to ensure fair taxation. This move...

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FEBRUARY 6, 2024

Cyprus Tax Department’s Blueprint for Transfer Pricing and Related Parties Transactions

In response to recent developments by the Cyprus Tax Department, Transfer Pricing regulations are undergoing significant changes, as per the circular issued on February 1, 2024. The Transfer Pricing...

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FEBRUARY 6, 2024

Trust Identification Protocols in Cyprus

Within the regulatory framework of Cyprus, there exists a concerted collaboration between financial institutions and regulatory authorities to uphold the standards of Trust Identification. This...

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FEBRUARY 6, 2024

From Legacy to Prosperity: How Trusts Shape the Future of Wealth Management

Despite the ongoing fluctuations in the global economic environment, Trusts continue to be extensively employed by many Administrative Service providers worldwide. Primarily utilized for Asset...

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FEBRUARY 5, 2024

Eurofast’s Commitment: Excelling in the Evolving World of Payroll Services

The evolution of global payroll systems has witnessed a transformation characterized by a convergence of technology integration and a commitment to comply with international standards. This shift is...

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FEBRUARY 5, 2024

Streamlining Payroll for Multinationals in Georgia: Eurofast’s Experience

Eurofast International Georgia takes pride in its diverse team, boasting international experience. One of our highly sought-after services is Payroll Outsourcing, particularly catering to...

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JANUARY 26, 2024

A Comprehensive Guide to Obtaining Single Permit for Residence and Work in Bulgaria

The regulations governing the entry, stay, work, and departure of foreign nationals in Bulgaria hinge on their classification as either nationals of the European Union / European Economic Area /...

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JANUARY 25, 2024

Registering with Cyprus Tax Registry Shifts to TFA Taxpayer Portal

The Cyprus Tax Department announced that, from January 8, 2024, the submitting of requests for registration in the Tax Registry, will be available Online ONLY through the TAX FOR ALL (TFA) Taxpayer...

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JANUARY 16, 2024

Albanian Tax Alert: Crucial Insights on Normative Act No. 7

Eurofast brings your attention that in accordance with Normative Act No. 7, dated 14.12.2023, a series of consequential amendments have been enacted in alignment with Income Law No. 29/2023 with a...

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JANUARY 16, 2024

Cyprus Slashes Defense Tax on Passive Interest Income

Cyprus has recently unveiled significant tax policy adjustments that directly impact various income streams. One notable change includes the reduction of the Special Defense Contribution (SDC) rate...

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JANUARY 15, 2024

Invest, Reside, and Thrive: Cyprus’ Allure for Global Professionals

Cyprus has consistently charmed tourists, becoming a cherished destination. In the face of current global sociopolitical upheavals, the demand for a secure haven, both personally and professionally,...

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JANUARY 9, 2024

Trade Secret Protection Obligations of Employees in Bulgaria

In Bulgaria, the Trade Secrets Protection Act governs the safeguarding of confidential information. The Act defines trade secrets as information not generally known or easily accessible, possessing...

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JANUARY 4, 2024

Revitalizing Prosperity: Greece Ends Three-Year Wage Freeze with New Legislation

Introduction and Three-Year Freeze Unveiled At the stroke of midnight on January 1, 2024, a pivotal moment unfolded for private sector employees in Greece as Law 5053/2023 came into effect, marking...

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JANUARY 3, 2024

Change in 2024: Increase in Maximum Insurance Income

Insurance income, the basis for calculating state contributions, is undergoing a shift in 2024. The maximum insurance income, beyond which money is subjected to income tax rather than insurance, is...

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DECEMBER 29, 2023

Unlocking Financial Freedom: Tax Breaks in Serbian Real Estate Deals

The Ministry of Finance in Serbia has issued an official opinion that could bring relief to taxpayers involved in real estate transactions. This benefit is particularly relevant to individuals who...

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DECEMBER 28, 2023

Unlocking Success: Eurofast Group of Companies Pioneers the Future of Compliance with AI-Driven...

As we stand at the nexus of traditional financial practices and the cutting-edge innovations of the digital age, AI has emerged as the catalyst of transformation, offering unprecedented insights,...

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DECEMBER 27, 2023

The Redefined Legal Framework for Private Pension Funds in Albania

A significant development took place on November 6, 2023, with the introduction of a new legislation, Law No. 76, receiving parliamentary approval in Albania on September 21 of the same year. The...

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DECEMBER 27, 2023

Από τα €885 στα €1000: Η Κύπρος προχωρά σε αύξηση του...

Με την έκδοση νέου διατάγματος για την αντιμετώπιση οικονομικών ανησυχιών και τον συντονισμό με τις...

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DECEMBER 22, 2023

From €885 to €1000: Cyprus Raises Minimum Wage

In a decisive move aimed at addressing economic concerns and aligning with the prevailing inflationary pressures, the Council of Ministers has issued a groundbreaking decree heralding a revision of...

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DECEMBER 20, 2023

From Reform to Resilience: Georgia’s Entrepreneurial Laws Undergo a Facelift

One of the foundations for creating a functional market economy and encouraging trade is the existence of effective Corporate Law. In modern conditions, when relations of the entrepreneurial...

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DECEMBER 19, 2023

Kosovo’s Tax Revolution: Interactive Services Redefine Taxpayer Experience

Embracing technological innovation, the Tax Administration of Kosovo (TAK) has launched three new electronic services, marking a significant milestone in the realm of taxpayer facilitation and...

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DECEMBER 18, 2023

Citizenship by Investment Program in Serbia

The Serbian government has withdrawn its proposed amendments to the Law on Citizenship from the parliamentary procedure. Introduced on May 5, 2023, these amendments (namely, a Proposal for Changes...

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DECEMBER 18, 2023

2023: Belize Updated Legal Framework for Businesses

In response to evolving financial landscapes, Belize has implemented substantial changes through the Accounting Records (Maintenance) (Amendment) Act, 2023, and the Belize Companies Act (Amendments)...

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DECEMBER 14, 2023

From Changes to Challenges: Croatia’s Fiscal Transformation in 2024

Croatia is set for a transformative fiscal year with sweeping amendments to its tax and social security systems taking effect on January 1, 2024. These changes bring a nuanced blend of challenges and...

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DECEMBER 12, 2023

Beyond the Ink: Cyprus-Croatia Double Tax Treaty Officially Sealed

A year ago, on November 8th 2022, the Croatian Ministry of Finance announced the initialling of an income and capital tax treaty between Croatia and Cyprus, marking a significant step in fostering...

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DECEMBER 7, 2023

Big November News: Cyprus Implements 5% VAT Rate for Home Purchase or Construction

In a significant development in Cyprus’ fiscal landscape, Circular 11/2023 issued by the Cyprus Tax Department on 28 November 2023 has brought forth crucial clarifications. This official...

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DECEMBER 7, 2023

Cookies: Privacy Perils and How VPNs Safeguard Your Bytes

In the digital era, internet cookies are pivotal for enhancing user experiences and customizing online content. As websites request consent for cookie usage, ePrivacy concerns become paramount. This...

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DECEMBER 6, 2023

Bulgaria’s Leap to Electronic Food Vouchers

Bulgaria is currently undergoing a substantial transition from traditional paper-based food vouchers to the modernized realm of electronic equivalents. Over time, many employers in Bulgaria have...

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DECEMBER 6, 2023

Cyprus International Trusts: Your Gateway to Global Financial Security

In the complex realm of asset and wealth protection, the Cyprus International Trust stands out as a highly desirable instrument defined by distinctive characteristics shaped through judicial...

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NOVEMBER 28, 2023

Cyprus Social Insurance: the Unseen Puzzle Pieces of the Fourth Contribution Rise

In our continued exploration of the impending changes to the Cyprus Social Insurance Fund, there’s more than meets the eye since our last update on October 5, 2023. Brace yourselves for the...

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NOVEMBER 21, 2023

16 Years in the Making: Montenegro Unveils Direct Payment System with Serbia and Bosnia

In a groundbreaking move, Montenegro is set to establish a direct bank payment system with Serbia and Bosnia and Herzegovina after a long-awaited 16-year period. This initiative promises significant...

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NOVEMBER 16, 2023

Labor Laws Unleashed: Your Must-Have Info on Greece’s Latest Employment Regulations

Embarking on a journey of modernization, the Greek Parliament has just given the nod to Law 5053/2023 after an extensive public consultation period. The ratified law incorporates a set of amendments...

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NOVEMBER 16, 2023

Bulgaria’s 2023 Commerce Law Amendments: A Fresh Look at Insolvency Proceedings

In the dynamic landscape of 2023, Bulgaria underwent a remarkable metamorphosis in its insolvency proceedings due to game-changing amendments to the Commerce Law. These changes not only impact the...

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NOVEMBER 16, 2023

Strategic Shifts: Georgia’s Updates on Non-Resident Employee Registration

Georgia’s workforce is undergoing a revolutionary transformation with the implementation of a groundbreaking law on September 1st,2023. This legislation signifies a crucial advancement in the...

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NOVEMBER 14, 2023

Money matters: Serbia’s jazzed-up edition of personal tax and social security laws

The Republic of Serbia’s National Assembly recently gave the green light to stirring amendments in both the Personal Income Tax Law and the Law on Social Security Contributions. These changes...

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NOVEMBER 14, 2023

Bridging Borders: Albania and Croatia Seal Historic Social Security Agreement

Embarking on a shared journey of social security solidarity, the recent accord between Albania and Croatia transcends borders to weave a safety net for citizens. This groundbreaking agreement...

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NOVEMBER 9, 2023

Big News Alert: New Frontier of Salary Protection in Cyprus

Cyprus Ministry of Labour unveils game-changing salary protection reforms. The freshly enforced Law, No. 25(I)/2023 (as of April 16, 2023), synchronized with EU Directive 2019/1152, empowers employee...

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NOVEMBER 7, 2023

Cyprus Circular 9/2023: Your Essential Tax Update

Eurofast Accounting Team in Cyprus is delighted to bring you the latest insights from the Cyprus Tax Authorities. On the 20th of October 2023, the Tax Department issued Circular 9/2023, a significant...

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NOVEMBER 7, 2023

Work, Study, Thrive: Bulgaria’s Supportive Initiative

Employers who involve ongoing learners in their workforce exhibit a praiseworthy dedication to advancing both their industry and their workforce. Concurrently, they must maintain a comprehensive...

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OCTOBER 30, 2023

Cyprus: Revamping Tax Appeals for a Brighter Financial Horizon

Whether in Cyprus or elsewhere globally, submitting tax objections is your ticket to reclaiming your hard-earned money and ensuring fairness in the tax system. Don’t let overburdened tax bills...

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OCTOBER 30, 2023

Latest Shockwaves for Airbnb and Online Booking in Cyprus

On September 13, 2023, Cyprus Tax Department released guidelines on taxing rental income from self-service accommodations via online platforms like Airbnb and Booking. This news has stirred up the...

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OCTOBER 26, 2023

Bulgaria: Unmasking the World of Corporate Shell Companies

Shell companies have always held a mystique for entrepreneurs, offering a legitimate cover for various financial and business maneuvers. The European Union has been diligently working on regulatory...

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OCTOBER 26, 2023

Georgia’s International Company Status: A Tax Haven for Savvy Businesses

During an era defined by rapid economic changes, Georgia has emerged as a pioneer. A few years back, the Georgian Tax Authorities introduced a revolutionary law that’s been creating quite a...

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OCTOBER 21, 2023

A Conscientious Approach: Aligning ESG Efforts with International Tax Rules and Transfer Pricing

In today’s global landscape, an MNE’s approach to cross-border transactions among related parties and its compliance status concerning transfer pricing issues goes beyond mere compliance...

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OCTOBER 19, 2023

Streamlining Bulgarian VAT: Fresh Regulations for Bad Debts

Effective as of January 1, 2023, Bulgaria’s Value Added Tax Act (VATA) was overhauled, introducing a comprehensive system for reducing VAT related to outstanding invoices. This framework...

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OCTOBER 19, 2023

Cyprus: Navigating the Tax Tides of 2024: What’s Changing for Multinational and Domestic...

In 2024, the corporate tax landscape is set for a seismic shift that will impact both multinational giants and homegrown corporations. This transformation has been looming on the horizon ever since...

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OCTOBER 16, 2023

Bulgaria’s New Approach to Tax and Social Obligation Payments

Starting in October 2023, managing your tax and social security payments to the Bulgarian National Revenue Agency (NRA) is about to get a whole lot easier. The NRA is introducing a novel approach by...

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OCTOBER 9, 2023

Albania’s Tax Overhaul: A Game-Changer for Individual Taxpayers

In a groundbreaking development, the Albanian government is set to usher in a new era of taxation with Law No. 29/2023, bidding farewell to the long-standing Income Tax Law No. 8438, which has been...

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OCTOBER 6, 2023

Serbia’s Eco-Revolution: Small Businesses Gear Up for ESG Compliance in 2024

The introduction of Environmental, Social, and Governance (ESG) criteria marks a significant leap forward for Serbia on its journey to align with United Nations compliance standards. This...

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OCTOBER 5, 2023

Cyprus: Amendment of V.A.T. Declaration (Normal Regime)

After a relevant announcement by Cyprus Tax Authorities and in accordance with regulation 24, of the VAT of the Cyprus Regulations of 2001, when taxable persons are identified in VAT returns, which...

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OCTOBER 5, 2023

Cyprus: The 13th & 14th Salary in Private Sector

In Cyprus, it is at private companies’ discretion to bolster up employment relationship by introducing extra salaries.  The truth is there is no legislation obliging employers in the private...

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OCTOBER 5, 2023

ΚΥΠΡΟΣ : ΔΙΟΡΘΩΤΙΚΕΣ ΑΛΛΑΓΕΣ ΣΤΗ ΔΗΛΩΣΗ Φ.Π.Α....

Μετά από σχετική ανακοίνωση του τμήματος φορολογίας και σύμφωνα με τον κανονισμό 24, των περί Φ.Π.Α. της Κύπρου...

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OCTOBER 5, 2023

ΚΥΠΡΟΣ: O 13ος και 14ος ΜΙΣΘΟΣ ΣΤΟΝ ΙΔΙΩΤΙΚΟ ΤΟΜΕΑ

Στην Κύπρο δεν υπάρχει νομοθεσία η οποία να υποχρεώνει τους εργοδότες στον ιδιωτικό τομέα να καταβάλλουν τα...

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OCTOBER 5, 2023

Cyprus: What’s Behind Fourth Increase in Social Insurance Contributions

According to the Cyprus Social Insurance Law of 2010 (59(I)/2010), in January 2024, it is the fourth consecutive increase in the contributions of employers and employees to the Social Insurance Fund...

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OCTOBER 5, 2023

Cyprus: VAT Submission Deferred for Technical Reasons

On October 3rd, 2023 Cyprus Tax Authorities  announced  the extension of the submission of the VAT for the period 01/06/2023 – 31/08/2023. The new submission date for the above-mentioned VAT...

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SEPTEMBER 29, 2023

Cyprus Opens New Perspectives for Fund Investors

Cyprus has branded itself through history as a country where its real value is created through the nurturing of creative ideas, which made it a home for many prospective entrepreneurs and foreign...

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SEPTEMBER 27, 2023

Cyprus: Extension of Individual’s Income Tax Declaration submission

According to the announcement made by the Ministry of Finance on 25/09/2023, the timely submission of the Individual Income Tax Declaration (TD1) for the year 2022 and the payment of any due...

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SEPTEMBER 26, 2023

Bulgaria: Labor Books Go Electronic

The labor book is a mandatory official document  with the employment history of each employee/worker. According to labor legislation, when an employee/worker starts work for the first time, it...

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SEPTEMBER 25, 2023

Cyprus: Beneficial Owners Identification Is Topical Subject in September

The sensitive issue of Beneficial Owner’s disclosure has been brought up again to surface due to a reminder sent out by the Cyprus Authorities. The reminder states that the 30th of September is the...

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SEPTEMBER 21, 2023

Bulgaria: Last Shot for Corrective Financial Statement

DEADLINE 2nd of October 2023 Аccording to the joint order of the National Statistical Institute (NSI) and the National Revenue Agency (NRA) from January this year, a company can submit, after the...

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SEPTEMBER 21, 2023

Romania: October Brings Minimum Wage Increase

The Romanian Government came up with a balanced decision affecting the minimum wage per industry with afflictions to a handful of industries and benefits to others. The minimum wage per industry,...

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SEPTEMBER 21, 2023

Romania: Flexible Work System Underway

A four-day working week growing viral suggests advantages for the employees. It’s a new work system, through which they are entitled to choose to work extra hours within working days to benefit...

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SEPTEMBER 21, 2023

Romania: Tax Expectations 2024 or Egg-Dance to Survive

A legislative project applicable as of January 2024 challenges the tax system in Romania. Its aftershocks seem to be tangible for businesses and individuals. First and foremost, the project targets...

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SEPTEMBER 20, 2023

Bulgaria: Salient Updates in Insurance Policy

Latest changes that entered into force on 01.08.2023 in connection with the Law on the State Budget of the Republic of Bulgaria for 2023 and State Social Security Budget Law 2023 affect Insurance,...

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SEPTEMBER 19, 2023

Bosnia: Donated Food goes VAT-free

At the last session, the House of Peoples of the Parliamentary Assembly of Bosnia and Herzegovina unanimously adopted the Bill on Amendments to the Law on Value Added Tax. As an explanation to the...

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SEPTEMBER 18, 2023

Albania: Visa-friendly Policy for Digital Nomads

IT-nomads represent the future and offer significant potential to Albania. These young individuals either working for foreign companies or as freelancers may see Albania as a beneficial place to...

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SEPTEMBER 13, 2023

Modernization of Cyprus Transfer Pricing legislation

On the 6th of July 2023, a new circular was issued by the Tax department, in addition to the one voted in 2022, that takes into consideration the related transactions which are lower of the threshold...

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SEPTEMBER 12, 2023

Tax Debt Management Reform in Georgia

The tax debts collection strategy in Georgia is changing from automatic fiscal punishment approach to a preventive measures’ implementation style. Previously, in case of any kind of tax debt,...

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AUGUST 30, 2023

Bulgaria: Amendments in Measures against Money Laundry Act (MAMLA)

On 14.07.2023 the National Assembly of Bulgaria adopted new amendments to the Measures against Money Laundering Act (MAMLA), which aim to achieve compliance with the Directive 2018/843 of the...

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AUGUST 30, 2023

Recent Amendment in the Bulgarian Vat Act

As of 01.08.2023 a new important amendment in the Bulgarian VAT Act was adopted and entered into force. The amendment is as it follows: If at the end of each quarter of a financial year the total...

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AUGUST 18, 2023

Serbia: Amendments to the Law on Foreigners and Law on Employment of Foreigners

On July 26, 2023 the National Assembly of Serbia has adopted the long awaited changes in terms of Law on Foreigners and Law on employment of Foreigners. Most amendments will enter into force as of...

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AUGUST 18, 2023

Bulgaria: The Whistleblowing Act

Eurofast would like to draw your attention to a new mandatory procedure that you might need to implement in your Bulgarian company. We are going to share with you a brief description of the procedure...

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AUGUST 11, 2023

Suspension of Double Tax Treaty between Cyprus and Russia

As a response to the sanctions placed on Russia, due to the current state of affairs in Ukraine, Vladimir Putin has signed, on the 8th of August 2023, a decree suspending (not abolishing) the double...

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AUGUST 10, 2023

Updates from Cyprus Tax Department: New Version of Stamp Duty Calculator

CyprusTax Department would like to inform that for documents processing with variable fees purposes, a new version of the Stamp Duty calculator has been uploaded on the website under Direct Taxation...

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AUGUST 10, 2023

Cyprus Joins the Schengen Zone

During the past few decades, Cyprus has been under assessment to be able to enter the Schengen Information System (SIS). Cyprus has finally been given the green light to join the SIS (joining on 25th...

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AUGUST 10, 2023

SERBIA: NEWS ABOUT HEALTH INSURANCE FOR TRAVELLERS

Republic of Serbia and the RFZO (Republic Fund of Health Insurance) have signed bilateral agreements with 21 states on the possibility of using social insurance during temporary stay abroad (at the...

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AUGUST 10, 2023

Bulgaria: Definition of Irregular Working Hours

The article defines irregular working hours, how the rights and obligations of the employer and the employee are regulated by the law; how irregular working hours are accounted for and whether they...

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JULY 11, 2023

Greek Golden Visa: Extended Deadline Benefits Investors

As we have already informed our clients and readers on a previous article, the new Immigration Code provides for an increase in the investment amount required to obtain a golden visa. Specifically,...

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JULY 11, 2023

Bulgaria: Staff Motivation by Providing shares to employees

Shares represent securities that are part of the capital of a trading company. In this article, we will look at the possibility of providing shares to employees and what the benefits are. Granting...

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JULY 11, 2023

Amendments in Business Trip Regulations in Bulgaria

A few weeks ago, several amendments in the business trips regulations of employees in Bulgaria were promulgated and have been entered into force. As most of professionals know a business trip is...

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JULY 10, 2023

Albania: Favorable Changes for Self-Employed Pensioners

The Albanian government has approved additional changes in the law for compulsory social security contributions affecting people who have reached retirement age but continue to work registered as...

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JULY 10, 2023

Georgia: New Tax Bill Implements Stricter VAT Rules

Tax administration is being tightened in several directions nowadays. According to the new tax bill, the changes will affect both individuals and legal entities. One of crucial novelties coming into...

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JULY 7, 2023

Cyprus: Tax Obligations 2023

On June 9, 2023, the Cyprus Tax Authorities announced that an obligation to prepare and submit a Tax Return for 2023 is applicable only to individuals whose annual gross income exceeds € 19,500. Be...

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JUNE 23, 2023

CYPRUS: AMENDMENTS TO INCOME TAX LAW: EXTENDED EXEMPTION FOR NON-RESIDENT EMPLOYEES

On June 22, 2023, the Plenum of the Parliament introduced an important amendment to the Income Tax Law, extending the existing provisions of the income tax exemption for individuals employed in the...

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JUNE 8, 2023

Albania: Automation of Tax Declarations

The Ministry of Finance announced the automation of the monthly declaration of ledger books in the tax system. March 2023 has marked a substantial progress in the automation of the financial...

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JUNE 8, 2023

New corporate tax regime in UAE

On 31 January 2022, the Ministry of Finance of the United Arab Emirates (UAE), announced the implementation of a path-breaking corporate tax regime in the UAE, effective from the financial year...

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JUNE 7, 2023

JCC Platform no longer available for Tax Payments

The Tax Department announced that as of May 3rd 2023 tax payments through JCC platform will no longer be available and payments will be executed ONLY through Tax Portal. Companies can log-in to Tax...

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JUNE 7, 2023

Upcoming Changes in the Tax Code of Georgia

Tax administration is being tightened in several directions. According to the new tax bill, the changes will affect both individuals and legal entities. One of the changes, coming into effect...

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JUNE 7, 2023

Cyprus 60-day rule; The best kept secret in Global Tax Mobility

As per Cyprus Tax legislation, an individual is considered to be a tax resident in Cyprus if they spend more than 183 days in Cyprus during a tax year. The above Law has further amended in 2017 and...

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JUNE 7, 2023

Albania: New law regulating fiscal burden of employees

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...

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