Bulgaria changes calculation method of penalties for non-publishing of financial statements

Bulgaria/July 2016 Bulgaria changes calculation method of penalties for non-publishing of financial statements The publication of annual financial statements in the trade register is often neglected by Bulgarian trading enterprises.

Albania changes VAT exemption rules

Albania/July 2016 Albania changes VAT exemption rules The 2014 Albanian VAT law aimed to harmonize the Albanian VAT legal framework with the European Union acquis in this field, specifically with Directive 2006/112/EC.

Non-residents subject to capital gains tax in Federation of Bosnia and Herzegovina

Bosnia and Herzegovina/July 2016 Non-residents subject to capital gains tax in Federation of Bosnia and Herzegovina The amendments to the Corporate Income Tax Law of the Federation of Bosnia and Herzegovina (FBiH)...

Latest Amendments to Croatian Corporate Income Tax Act

Croatia/July 2016 Latest Amendments to Croatian Corporate Income Tax Act On May 13th, 2016, the Croatian Parliament implemented the EU Directive and amended the Croatian Corporate Income Tax Act which was published...

New corporate income taxation rules in Georgia

Georgia/July 2016 New corporate income taxation rules in Georgia Based on the Law of Georgia N5092- II, dated 13 May 2016, amendments relating to the corporate income tax (CIT) have been introduced...

Greece further loosens capital control measures to win back deposits

Greece/July 2016 Greece further loosens capital control measures to win back deposits Greek Finance Minister Euclid Tsakalotos published a decision dated July 21, 2016, a by virtue of which capital control measures...

Cyprus aims to boost startup sector with new tax incentives

Cyprus/July 2016 Cyprus aims to boost startup sector with new tax incentives  During a period of intensive efforts towards attracting foreign investors and building a healthy and developed financial and business system,...

New Directive of EU Council lays down rules against tax avoidance

July 2016 New Directive of EU Council lays down rules against tax avoidance All 28 EU Member States are called to implement into their national legislation enhanced measures against tax avoidance practices...

BREXIT: Continue doing business as you did before

Cyprus/July 2016 BREXIT: Continue doing business as you did before The British voters on 23rd June 2016 passed a historical decision to exit the European Union, changing the landscape and making the...

Cyprus and Jersey sign a Double Taxation Agreement

Cyprus/July 2016 Cyprus and Jersey sign a Double Taxation Agreement Officials of Jersey and Cyprus have signed a Double Taxation Agreement (DTA) on 11 July 2016 in London.

Incentives and Benefits of Foreign Investment into Iran

Iran/July 2016 Incentives and Benefits of Foreign Investment into Iran Territorially large and densely populated, Iran offers great opportunities in many  business sectors as well as tax incentives aimed at attracting foreign...

Ukraine’s new law on protection of investors' rights

Ukraine/July 2016 Ukraine’s new law on protection of investors' rights The Law No. 289-VIII, dated 7 April 2015, regarding the improvement of the legal framework for protection of investors’ rights in Ukraine...

Changing the main business activity code of a FYR Macedonian company

FYR Macedonia/July 2016 Changing the main business activity code of a FYR Macedonian company All resident companies incorporated under FYR Macedonian legislation are required to select a main business activity code during...

Legal procedures for the registration of a new commercial company in Albania

Albania/July 2016  Legal procedures for the registration of a new commercial company in Albania The new laws’ approval on the National Registration Center and the commercial companies, respectively in 2007 and in...

Tax Reforms in Greece

Greece/July 2016 Tax Reforms in Greece The Hellenic Parliament, with the purpose of meeting the financial targets of the third bailout program, adopted the new Laws 4387/2016 and 4389/2016

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