International Taxation

In line with the publication and coming into force of COUNCIL DIRECTIVE (EU) 2020/876 of 24 June 2020 amending Directive 2011/16/EU to address the urgent need to defer certain time limits for the filing and exchange of information in the field of taxation because of the COVID-19 pandemic, the Commissioner for Revenue will be deferring […]

The international community continues to make ‘tremendous progress’ in the fight against offshore tax evasion, according to the Organisation for Economic Co-operation and Development (OECD). The Paris-based regulator said this week that implementation of transparency standards by the organisation’s Global Forum on Transparency and Exchange of Information for Tax Purposes has “moved many countries ever closer to […]

The double tax treaty for the avoidance of double taxation between the Republic of Cyprus and that of Kazakhstan shall enter into full force from 1st January 2021, (hereinafter the ‘Treaty’) The salient points of the Treaty, among others, are the taxation of dividends, interest, capital gains and royalties. Withholding Tax Rates Dividends: 5% – […]

On the 8th May 2020 in view of unprecedented circumstances of pandemic and a number of requests from the Member States and persons liable to report information under Council Directive 2011/16/EU of 15 February 2011 (on administrative cooperation in the field of taxation) for the deferral of deadlines the European Commission put forward a proposal [...]

Some EU countries are calling for tougher sanctions on jurisdictions that facilitate tax avoidance in a move that is likely to spark a dispute with EU members like Luxembourg and Ireland. According to a document prepared by the Danish government and seen by Reuters, a group of European Union countries are urging for a discussion on […]

 Change would narrow regulations on overseas tax breaks  Republicans say rules aren’t necessary after 2017 tax overhaul Treasury Department officials are considering rolling back a tax rule aimed at preventing American companies from moving money offshore to avoid U.S. taxes, according to several people familiar with discussions. The Treasury is looking at regulations intended to […]

The United Arab Emirates and Switzerland are set to be removed from a European Union blacklist of countries deemed to be tax havens, according to a Reuters report citing an official document. Switzerland has delivered on its commitments, the document said, acknowledging that a tax reform passed last year – and due to be in […]

Malta has ratified the Malta – Monaco Income Tax Treaty (2018). The income tax treaty was signed on 1st October 2018, and it is the first of its kind between the two countries. By way of Legal Notice 91 of 2019, as published as a schedule to Legal Notice 70 of 2019 the treaty entered into […]

The Organisation for Economic Co-operation and Development is going to propose a global minimum tax that would apply country by country before the next meeting of G‑20 finance ministers and central bankers set for 17 Oct. in Washington, DC. G7 leaders announced at their Biarritz summit meeting this week a pledge to update international tax […]

The Mauritius Ministry of Finance and Economic Development has issued a joint communique in response to the so-called “Mauritius Leaks” investigation, which involves the recent publication by the International Consortium of Investigative Journalists (ICIJ) of data on over 200 companies that reportedly used Mauritius as part of tax schemes to avoid taxes in countries in Africa, Asia, […]