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June 2020: International Tax Planning Review

June 2020: International Tax Planning Review

Russian-Cypriot negotiations to amend double tax treaty On 25 June 2020 Russia and Cyprus started negotiations on amendments to the Agreement for the avoidance of double taxation dated 5 December 1998 (as amended in 2010) existing between the countries. Russia’s position is that the payment of dividends from Russia to Cyprus should be taxed in

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UAE: economic substance requirements

UAE: economic substance requirements

20 June 2019 the information that United Arab Emirates (UAE) have adopted economic substance requirements for companies, mostly similar to ones of offshore jurisdictions like British Virgin Islands, Belize, Cayman Islands and others, has been published on official website of Cabinet of Ministers of the UAE. Economic substance requirements were introduced by Cabinet of Ministers

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UAE implements VAT on 1st January 2018

UAE implements VAT on 1st January 2018

Legislative bodies of the United Arab Emirates have approved draft law that integrates VAT into national tax system and regulates different aspects of application of the new tax. Draft law was approved within the frameworks of Gulf Cooperation Council’s (GCC) initiative to implement VAT in all member states during 2018. Federal Decree-Law No. (8) of

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