International Updates
Under the 60-day rule in Cyprus, individuals are considered tax residents of Cyprus and benefit from the island's tax regime.
On December 10 2018, Portugal published Notice 144/2018 in the Official Gazette, announcing the new income tax treaty with Montenegro.
Russian legal entities that make capital gains from the sale of shares are eligible for a 0% tax rate, yet the criteria for satisfying this arrangement may not always be so simple.
Canada's Revenue Agency (CRA) confirmed in a recent technical interpretation (2017-071330117) that Canadian withholding tax can apply to the accrued (but unpaid) interest on a debt owed by a Canadian resident to a non-resident when the debt is assumed by another entity and such an assumption constitutes a "novation" of the debt obligation for purposes of the applicable commercial law.
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Sponsored by Deloitte LuxembourgThe EU VAT committee published guidelines (page 228) on April 26 2018 on the VAT treatment of cash pooling arrangements. -
Sponsored by Eurofast GeorgiaGeorgian and Saudi officials signed an income tax treaty on March 14 2018, which has been forwarded for ratification.
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Sponsored by Eurofast BulgariaThe Bulgarian Ministry of Labour and Social Politics recently adopted an ordinance for employment-related electronic documents and the requirements for their creation and storage in an employee's file. The ordinance is effective as of May 19 2018 and is based on Article 128b, paragraph 3 of the Labour Code.
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