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COCG: Assessment of Cooperative Jurisdictions

Following the recent update to the list of non-cooperative jurisdictions for tax purposes, as per the Code of Conduct Group (COCG) on Business Taxation’s program from February 2024, efforts to refine the list with specific assessment criteria will continue. The next steps include: During the COCG meeting on November 22, 2023, a proposal was discussed […]
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European Parliament Considers Armenia’s Candidacy for EU Membership

The European Parliament has approved a resolution suggesting the consideration of granting Armenia candidate status for EU membership. With 504 votes in favor, 4 against, and 32 abstentions, the resolution, put forward by the European People’s Party faction, emphasizes Armenia’s potential for candidacy pending continued democratic reforms. The resolution condemns Azerbaijan’s armed forces’ incursion into […]
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El Salvador Removes Taxes on Overseas Funds

El Salvador has recently passed a significant reform aimed at enticing greater foreign investment by eliminating income taxes on funds from overseas. This move, approved by the country’s Congress, is expected to encourage more financial inflows, including remittances and investments in local businesses, by exempting them from taxation. Previously, any income exceeding $150,000 was subject […]
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Biometric Passport for Traveling to the EU: New Rules

Representatives of the European Commission confirmed to “Izvestia” that a biometric passport is not mandatory for traveling to the European Union. The introduction of the new Entry/Exit System (EES) does not imply automatic refusal of entry into the EU for individuals without this document. The decision on admission remains with the border services of each […]
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New Tax for Foreign Banks in Dubai

Dubai ‘s foreign banks are facing a new 20% tax, issued by Dubai’s hereditary ruler, Sheikh Mohammed bin Rashid al-Maktoum. The tax applies to all foreign banks operating in Dubai, with the exception of institutions licensed to operate in the Dubai International Financial Centre (DIFC). Under the new law, foreign banks will be subject to […]
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