Cyprus steps out to defend its tax regime | Index2Day

Cyprus, along with Luxembourg, British Virgin Islands and the Seychelles have been rated "non-compliant" with international tax transparency norms.

The OECD raised concerns on Cyprus failure to respond to tax information requests. Another concern the OECD has is that only about 23 percent of Cyprus-based corporations filed income tax returns with the government between 2008 and 2012. The low number of filings may have accounted for a lack of government oversight and resulted in Cyprus not exchanging up-to-date tax information with other jurisdictions, the report said. 

Read more on Index2Day

Amendments Proposed for EU Parent-Subsidiary Directive | Index2Day

On Monday, 25 November, the European Commission proposed changes to EU corporate tax law that would be intended to address tax avoidance in Europe.


According to the European Commission official press release, the Commission wants to close loopholes being used for a particular tax planning arrangement (hybrid loan arrangements) and to introduce a general anti-abuse rule the Directive is not exploited by tax avoiders.Read the full article on Index2Day.

Eurozone Banking Sector has Changed | Index2Day

 Smaller, less leveraged and more concentrated is the Eurozone banking sector in relation to the pre-crisis data, according to a survey by the European Central Bank on the structural changes that have occurred in the period 2008-2012. Read more on Index2Day.

Troika strategy for Cyprus banking ‘not working’ | Index2Day

Troika strategy for Cyprus banking ‘not working’ | Index2Day

Estonia DTA also approved by the Estonian Parliament | Index2day

A Double Tax Agreement (DTA) was signed between Cyprus and Estonia on October 15, 2012. The Cyprus Govermnent rativied the DTA in February 2013 and now it has also been approved by the Estonian Parliament on September 25, 2013. Read more: http://www.index2day.com/article/cyprus-estonia-dta-also-approved-by-the-estonian-parliament/

Dubai Multi Commodities Centre – UAE’s largest Free Zone | Index2Day

 The Dubai Multi Commodities Centre (DMCC), known also as the free zone authority behind Dubai’s Jumeirah Lake Towers, has now become UAE’s largest free zone, with more than 7,330 active registrations. Read more on Index2Day

EU Commission doesn’t give up on the FTT | Index2Day

(...) despite potential legal hurdles, German Finance Minister Wolfgang Schäuble has pointed that the introduction of the FTT at international level is still being considered. While insisting that "a solution can be found" to overcome the legal issues, Schäuble nevertheless mentioned that the tax will not now enter into force at the beginning of 2014 as initially planned...Read more on Index2Day