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UK government has stopped tax data exchange with russian federation
Russia was not included in the new list of countries which were approved for information exchange with UK. **According to the message of the HM Revenue and Customs (HMRC), UK has ceased the exchange of tax information with Russia.** The above-mentioned statement provides a list of countries that UK shares tax data with. Russia is not mentioned in the list of countries for 2019. Based on c...
Path: BlogCyprus has transferred to Moscow Russian bank account holders data for 2017
**Representative of the Ministry of Finance of Cyprus stated that all financial data for 2017 that should have been transferred, as part of the automatic exchange of information, was successfully transferred to russian federation in September 2018.** Hence, information for the last year will be transmitted to Moscow in September 2019. That means that the fight against tax fraud has entered a new ...
Path: BlogGood times are over. Russian owned Cyprus companies will have to prove their real economic activities within the country.
On Thursday, February 7, the government of the russian federation approved the draft law on ratification of the Organization of Economic Cooperation and Development (OECD) Multilateral Convention to Implement Tax Treaty Related Measures (MLI). From that moment **it will become more difficult to gain tax benefits in transactions with foreign companies**. The aforesaid convention concerns bilat...
Path: BlogEU Member States Granted Citizenship To Over 800 Thousand People In 2017
...orts to foreigners were issued by **Italy** (146 600), **United Kingdom** (123 100), **Germany** (115 400) and **France** (114 200). In 2017, over 5.5 thousand people were granted **Cyprus** citizenship, of those 23.8% (1313 people) were citizens of russian federation, 9.1% (502 people) were citizens of **United Kingdom**, and 8.7% (479 people) were citizens of **Ukrainian**. In February 2019, ...
Path: BlogRussia is planning to create asset-backed cryptocurrency
...ies, which has previously spoken against the legalization of the virtual asset class. Nevertheless, it seems that the creation of crypto legislation might not be a priority at the moment since it was reported last week that the Prime Minister of russian federation officially stated that cryptocurrencies have lost their popularity. Read our blog to keep abreast of all actual crypto news.
Path: BlogRussia is considering to allow crypto trading
...ing, although a final decision is yet to be made. According to the publicly available information, Cryptocurrency bill was supposed to be considered at the plenary meeting of the State Duma on March 19, but was postponed due to unknown reasons. **russian federation is planning to adopt the Cryptocurrency bill by the end of the year so as to meet recommendations of the Financial Action Task Forc...
Path: BlogJapan to Tighten Crypto Rules for Preventing Sanctions Evasion
...ned countries. It has been stated in a joint announcement of Japan’s Ministry of Finance and Financial Services Agency that both authorities are planning to penalize cryptocurrency exchanges that are violating economic sanctions imposed against russian federation. Cryptocurrency exchanges in the country are looking at up to three years of prison or a monetary fine of 1 million yen (almost ...
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