A Brand New Collective Investment Passport Scheme for Cyprus


Upon the 19th scheme, yet another new scheme was approved containing the following provisions: Non-Cypriot residents’ investments will be reduced to €2.5 million should they participate in the collective investment scheme with a total value of the investment of at least €12.5 million (Euros) Any investment in the first three categories as referred below will […]


Cyprus and Iceland’s New Double Tax Agreement


On 22nd December 2014, a new double tax agreement between Cyprus and Iceland came into force. The agreement, the first between the two countries, is based on the Organisation for Economic Cooperation and Development (OECD) Model Convention for the Avoidance of Double Taxation on Income and extends Cyprus’s network of double tax agreements to cover […]


World Bank To Help Poland Resolve the “Robin Hood” Tax Issue


Early next year, The World Bank is to establish a working group composed of representatives of the Ministry of Finance, the World Bank, subnational governments and academia to support Polish efforts to review its framework for the redistribution of local-level tax revenues among provinces. Poland’s framework, namely known as a ‘Robin Hood tax’ system includes the […]


Ireland Records January Surplus


Irish Finance Department figures record a 12.3 percent year-on-year increase in tax receipts and helped deliver a EUR680m (USD778.8m) budget surplus in January. Had it not been for the introduction of the Single European Payment System in January 2014, which had an impact on revenues, the surplus would have been higher (EUR781m). Against January 2014 […]


With The Dip in Economy – The Chinese Tax Revenue Growth Dips


China’s Finance Ministry released its monthly report on public financing, including the income of key taxes. In a recent announcement is was stated that total fiscal revenues rose by only 8.6 percent in 2014 to just over RMB14 trillion, the slowest rate of growth in more than 20 years. One researcher from the Ministry said that […]