Press Releases

News_Other

Danish cases: CJEU issues important verdict on beneficial ownership

On 26 February 2019, the Court of Justice of the European Union (“CJEU”) issued its decisions in six cases which deal with the interpretation of the Parent-Subsidiary Directive (“PSD”) and the Interest & Royalties Directive (“IRD”). In the cases, the...

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News_CY

Saudi Arabia – Cyprus Double Tax Treaty

On 5th March 2018, Cyprus published Notice no. 4237/18 in the Official Gazette, announcing the new double tax treaty with Saudi Arabia. In the case of Saudi Arabia, the treaty covers the Zakat and the income tax (including the natural...

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News_SRB

Agencija Standar & Poor’s potvrdila stabilan izgled za Crnu Goru

Agencija za kreditni rejting ”Standard & Poor’s” objavila je novi Izvještaj za Crnu Goru kojim je ponovo potvrdila izgled rejtinga naše zemlje označenog kao „stabilan“, uz očuvanje ocjene B+/B. Rast crnogorske ekonomije procijenjen je na 4,7% u 2018 godini, što...

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News_MN

Standard & Poors confirmed the stable outlook for Montenegro

The credit rating Agency ”Standard & Poors” confirmed in its new Report that Montenegro has a stable B+/B credit rating. The growth of the Montenegrin economy increased to 4.7% in 2018, exceeding the last year’s projections of 3.5% annual growth....

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News_Srb_Srb

Donijeta odluka o Izboru Agenata za Posredovanje

Sekretarijat za Razvojne Projekte donio je i objavio na svom sajtu Odluku o izboru agenata za posredovanje radi realizacije posebnog razvojnog programa kroz investicije. U saopštenju i Odluci je navedeno da su svega 3 aplikanta od ukupno 22 podnesene aplikacije...

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News_CRO

List of selected Agents for Montenegrin Citizenship by Investment Program Published

The Montenegrin Secretariat for Development Projects published on their official website the Decision on Selection of Agents for the CBI program, which states that only 3 out of 22 applications were successfully submitted. The Secretariat selected the following three companies:...

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News_CY

Tax department clarifies Cyprus 60-day rule for nominee directors

Effective as of 1st of January 2017, the so-called “60 day rule” for the purposes of establishing Cyprus tax residency for individuals is of importance to those seeking Cypriot residency. Under the rule, individuals are considered tax residents of Cyprus...

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News_Gr_en

Obligation to declare UBOs to Greek Ministry of Finance’s Central Register

For the first time this year, legal persons and other entities are obliged to declare their UBO(s) to the Central Register of the Ministry of Finance (MFA). In accordance with the Greek Anti Money Laundering Law 4557/2018 – which implemented...

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News_BiH

Draft Law on Amendments to the Law on Fiscal Cash Registers in Republic of Srpska

The Government of Republic of Srpska has published the Draft Amendments to the Law on Fiscal Cash Registers. The changes relate predominantly to the levels and to the duration of the sentence in certain misdemeanor procedures. The maximum penalties are...

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News_SRB

Serbia amends Corporate Income Tax Law; introduces incentives and amends depreciation rules

Changes to the Serbian Corporate Income Tax Law came into effect on January 1, 2019. One of the incentives introduced is the abolishment of the 10% limit on the deductibility of advertising and promotional expenses recognized as expenses in the...

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News_CRO_Cro

Izmjene u hrvatskim zakonima: Treće poglavlje Porezne reforme

Hrvatska Vlada neumorno radi na oporavku ekonomske slike u državi. Već su iza nas dvije faze porezne reforme, donesene 2017. i 2018. godine, postavljajući preduvjete za novo, treće poglavlje. S time u skladu, od 1. siječnja, 2019. godine, izmijenjeno je...

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News_BG

New Bulgarian legislation introduces requirement for employment of people with disabilities

Bulgarian companies with staff exceeding 50 employees are obliged to open workplaces for people with disabilities, as per the new Disability Act which has entered in force as of 1st January 2019. In order to ensure the employment of people...

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News_CY

Recent Developments in the Cyprus Companies Law Cap 113

Within the framework of the legislative reform and reorganization of the Cyprus Registrar of Companies, the Cyprus Government has proceeded to the following amendments in the Cyprus Companies Law Cap 113: I. Abolition of the 0.6% variable charge on the...

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News_CRO

Changes in Croatian legislation: Third chapter of the Tax Reform

The Croatian government is working relentlessly on the recovery of the Croatian economy. Two rounds of tax reforms already took place in 2017 and 2018 respectively, with a third chapter being opened currently. As of January 1, 2019, a total...

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News_GE

New Pension scheme introduced in Georgia

A Pension reform was initiated by the Government of Georgia and entered into force on January 1, 2019. This scheme consists of the activation of a so-called “funded pension”, to which everyone will make a minor contribution – the employee,...

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News_BG

COMPANY SETUP AND ADMINISTRATION IN BULGARIA

Congratulations, you have chosen a very perspective country to invest in; one with a stable economy in the last few years, an easy procedure for company registration and a transparent tax system with a short list of taxes and social...

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News_MN

Montenegro Citizenship by Investment Program News: Government opens applications for Agents and Due...

The Government of Montenegro adopted the Decision on criteria, method and procedure for selection of persons who may acquire Montenegrin citizenship by admission for the purpose of implementation of special investment program of particular importance for the business and economic...

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News_MN

Montenegro – Portugal Income Tax Treaty enters into force

On 10th December 2018, Portugal published Notice no. 144/2018 in the Official Gazette, announcing the new income tax treaty with Montenegro. The treaty covers Montenegrin corporate profit tax and personal income tax and Portuguese personal income tax, corporate income tax,...

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News_Srb_Srb

Ugovor o izbegavanju dvostrukog oporezivanja Srbija -San Marino stupa na snagu

Srbija i San Marino potpisali su Ugovor o izbegavanju dvostrukog oporezivanja 16. aprila 2018. godine, što je rezultiralo uklanjanjem San Marina sa srpske liste zemalja sa preferencijalnim poreskim režimom. Zakon o potvrđivanju ovog ugovoira je usvojen od strane Skupštine Srbije...

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News_Srb_Srb

Izmene I dopune Zakona o PDVu u Srbiji; prosirenje mogucnosti za povracaj PDVa stranim kompanijama

19.aprila 2018.godine Narodna Skupstina Srbije je donela izmene I dopune Zakona o PDVu. Usvojeni zakon je objavljen u Sluzbenom glasniku Br. 30/2018. i stupio je na snagu 1. jula 2018.godine, sa izuzetkom odredjenih izmena I dopuna koje ce se primenjivati...

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News_Geo_Geo

ელექტრონული ბინადრობის მოწმობა...

საქართველო დროთა განმავლობაში სულ უფრო მეტად მიმზიდველი ქვეყანა ხდება როგორც ცხოვრების, ისე ბიზნესის...

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News_Geo_Geo

საქართველო ახალ საბაჟო კოდექსს...

საქართველო განაგრძობს ბიზნესისთვის გამარტივებული საგადასახადო და საბაჟო პოლიტიკის გატარებას, რომელიც...

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News_MN

Few things to know before starting a business in Montenegro

According to the latest World Bank 2018 annual ratings, Montenegro is ranked 50th among 190 economies in the ease of doing business ratings. In the long-term, the ease of doing business is projected to trend around 58.00 in 2020, according...

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News_CRO

Alignment of the Croatian AML Act to the 4th EU Directive

The first Croatian Anti-money laundering Act was adopted in 1997 and with it, Croatia implemented international standards and sets out strong grounds for the prevention and fighting of money laundering and terrorism. In 2008, effective as of January 1, 2009,...

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Press Releases

Eurofast: New location in Skopje

Eurofast is pleased to announce the relocation to a new office space in Skopje. The selection of new premises aims to accommodate the local team’s continued growth and enable the company to maintain a professional high-quality service to its expanding...

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News_MN

Montenegro as a key destination for investors and a new home for global citizens

A tiny Mediterranean country, settled between the borders of ex-Yugoslavia member states, is in the spotlight for its rapid and sustainable growth. The beautiful blend of stunning mountains and clear sea, combined with an average of 240 sunny days per...

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Press Releases

Eurofast Taking care of your business for 40 years

2018 marks the 40th anniversary of Eurofast Ltd. Eurofast started off as a small accounting agency working with local businesses in Cyprus and 40 years later counts 21 offices and over 200 employees in South East Europe & Middle East....

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Press Releases

Eurofast: Introducing its Azerbaijan Desk

It is our pleasure to announce that Eurofast Global is launching Azerbaijan Desk at its branch in Tbilisi, Georgia. Our Azerbaijan desk will coordinate, support and act as the link between Azerbaijan and our clients interested in the country. Our...

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News_BG

Bulgarian new AML measure requires urgent action by companies

In March 2018, the 4th EU Money Laundering Directive was implemented, known as MLD4, which came into force in June 2017. With this Directive, Bulgaria adopted a new anti-money laundering measure that was transposed in the relative legislation. Among the...

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News_RM

Romania increases minimum differentiated wage

The Romanian Government has adopted an emergency ordinance on 9th of November 2018 which provides for the amendment of the Labour Code. The changes introduce the definition of a minimum differentiated salary, dependent on the length of the work and...

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News_CRO

Croatia signs agreement on avoidance of double taxation with Japan

2018 is a year in which Croatia and Japan celebrate the 25th anniversary of their diplomatic relations. This milestone is further marked with the signing of the agreement on avoidance of double taxation, which took place on October 19, 2018....

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News_BiH

Amendments to the Law on Cash Registers in Brčko District

On 17 October 2018, the Assembly of Brčko District adopted amendments to the Law on Cash Registers, essentially narrowing the list of persons who are subject to an obligation to register invoices using cash registers. The new amendments now grant...

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News_CY

Η Κύπρος αυξάνει τις εισφορές Κοινωνικής Ασφάλισης το...

Οι εισφορές του Ταμείου Κοινωνικών Ασφαλίσεων (SIF) θα αυξηθούν αρχίζοντας από τον Ιανουάριο του 2019, ενώ οι εισφορές για την εφαρμογή του Γενικού Συστήματος...

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News_CY

Cyprus hikes social contributions in 2019; introduces NHIS

Cyprus Social Insurance Fund (SIF) contributions will increase starting from January 2019 while contributions for the implementation of the National Health Insurance System (NHIS) will commence in March 2019. Social Insurance Contributions rate hikes from 2019 As from 1 January...

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News_FYROM

FYR Macedonia introduces progressive personal income tax; increases tax expenditures for companies

After 10 years of 10% flat personal income tax rate in FYR Macedonia, the Ministry of Finance has recently abolished the approach and introduced the Law on progressive personal taxation which has become effective as of 1 January 2019. Aiming...

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News_SRB

Serbia-San Marino DTT enters into force

Serbia and San Marino signed a DTT on April 16, 2018, thus effectively resulting in the removal of San Marino from the Serbian list of countries with a preferential tax regime. The Law on Confirmation of the DTT was adopted...

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News_GE

E-residency introduced in Georgia

Georgia is becoming a very attractive destination to both live and do business in. The low cost of living and the relatively simple process for obtaining a residence, coupled with its status as an entrepreneur-friendly country with reduced tax burden...

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Croatia

Brexit: spotlight on opportunities in Croatia

In June 2016, the citizens of Great Britain voted to leave the European Union. In order to implement the referendum result and pursuant to the article 50 of the Lisbon Treaty, the UK government presented in March 2017 the Notification...

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News_MN

DEVELOPMENT IN THE NORTH OF MONTENEGRO: THE NEXT BIG THING?

Many know Montenegro for its reputation as a rapidly growing high-end destination, following recent multi-million euro developments on the coast. But, what makes this Mediterranean country a true pearl of the Balkans is the perfect blend of its northern and...

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News_GE

Georgia announces new Customs Code

Georgia continues to pursue a business-friendly tax and customs policy, which – along with economic reform – implies a complete harmonization of the legislation with EU standards. At this stage, work on the new Customs Code project has been completed...

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News_Ukr_Ru

Чорногорія є ключовим напрямком для інвесторів та...

Крихітна середземноморська країна, розташована між країнами – членами колишньої Югославії, знаходиться в центрі уваги завдяки її швидкому та сталому розвитку....

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news gr

Το Μαυροβούνιο ως βασικός προορισμός για Επενδυτές...

Μια μικρή μεσογειακή χώρα, ανάμεσα στα σύνορα των χωρών της πρώην Γιουγκοσλαβίας, βρίσκεται στο προσκήνιο για την ταχεία και βιώσιμη ανάπτυξή της. Τα εκπληκτικά...

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News_Geo_Geo

მონტენეგრო – მთავარი დანიშნულების...

ხმელთაშუა ზღვის ეს პატარა ქვეყანა, რომელიც ყოფილი იუგოსლავიის წევრ სახელმწიფოთა საზღვრებს შორისაა მოქცეული,...

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News_MN

Take a sneak peek into the top 3 development projects in Montenegro

With just 650,000 inhabitants and total area of 13,812 km2 Montenegro is considered to be the smallest country in the Balkans. It is frequently said that it is actually a small country with a big Government-backed effort for multidirectional growth....

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News_Iran_Farsi

مونته نگرو، مقصد کلیدی برای سرمایه گذاران و خانه ای...

یک کشور کوچک مدیترانه ای که در بین مرزهای کشورهای عضو یوگسلاوی سابق واقع شده است، با سرعت در جهت رشد و پایدارسازی خود قرار دارد. ترکیبی زیبا از کوه های خیره کننده و...

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News_CY

New Cyprus legislation improves rights of expecting and new mothers

Becoming a parent is undoubtedly a special and unique experience and as such requires careful consideration and approach for both parents. Women’s care during pregnancy and the post-partum period are two of the most important segments which have to be...

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News_MN

Montenegro as a key destination for Investors and a new home for global citizens

A tiny Mediterranean country, settled between the borders of ex-Yugoslavia member states, is in the spotlight for its rapid and sustainable growth. The beautiful blend of stunning mountains and clear sea, combined with an average of 240 sunny days per...

Read More

News_EG

Central Bank of Egypt defends Secrecy of Bank Accounts

Head of the Tax Authority (ETA) of Egypt, Emad Sami, revealed on August 26th that an amendment to the Income Tax Act has been drafted to allow the Minister of Finance to access corporate bank accounts in order to help...

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News_CRO

Tax incentives for Research and Development in Croatia

In the period between 2007 and 2014, tax incentives in Croatia for research and development projects were granted based on the Act on Scientific Activity and Higher Education, namely articles 111 a) to 111 f). However, in June 2014 the...

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News_SRB

Serbia amends VAT Law; extends possibilities for VAT refund to foreign companies

On April 19th, 2018, the Serbian Parliament adopted the Law on Amendments to the VAT Law. The adopted Law was published in the Official Gazette No. 30/2018 and came into force on 1st of July 2018, with the exception of...

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