The European Parliament is suggesting the establishment of a “democracy passport” for Russians along with specific visa conditions. The purpose of such a document is to enable the EU to engage with Russian citizens who uphold “democratic views” and do not align with Russia’s official state position. This proposal arises from the lack of options […]

Deputy Economy Minister Maurizio Leo revealed on Wednesday that the government is exploring the use of data scraping from social media platforms to combat tax evasion. Leo emphasized the ongoing collaboration with the Inland Revenue Agency (l’Agenzia delle Entrate) and the public IT agency Sogei in implementing “data scraping.” This involves analyzing the standard-of-living data […]

New Zealand is experiencing an unprecedented surge in immigration, reaching an all-time high of 110,000 in the year ending August, surpassing the previous record of 103,000 set just a month earlier, as reported by Statistics New Zealand on Wednesday. This surge marks a significant turnaround, considering that during much of the COVID-19 pandemic, more people […]

Will UAE introduce income tax in the near future? There is no expectation of a personal income tax (PIT) in the near future. UAE Deputy Minister of Finance, Younis Al Hurri, has confirmed that there are no plans to introduce a personal income tax for individuals in the country in the foreseeable future. This aligns […]

In the aftermath of last month’s extensive crackdown on money laundering, Singapore banks are heightening their scrutiny of clients of Chinese origin holding dual citizenships. The crackdown, which unfolded on August 15 with island-wide raids resulting in the arrest and charging of ten affluent individuals of Chinese descent, has prompted financial institutions to reevaluate their […]

In an interview with TVI’s Jornal Nacional, Prime Minister António Costa announced the discontinuation of special taxation for foreigners not habitually residing in Portugal, effective from 2024. “It no longer makes sense to maintain a special tax for non-habitual residents,” he stated, referring to the Non-Habitual Resident Statute, a regime that offers a ten-year reduction […]

In this comprehensive guide, we delve into the latest Thailand tax changes, providing insights into the automatic information exchange that affects both residents and non-residents Thailand embraced automatic information exchange last year, and this year, the tax authorities have issued practical guidelines, organizing seminars for banks. As per the directive from the Thai Ministry of […]

In a groundbreaking move, the United Arab Emirates (UAE) has introduced the General Commercial Gaming Regulatory Authority, signaling a potential shift toward legalizing gambling. The authority, announced by the state-run WAM news agency, is poised to oversee a national lottery and commercial gaming activities. Kevin Mullally, former executive director of the Missouri Gaming Commission, has […]

In an effort to strengthen Cayman’s AML/CFT (Anti-Money Laundering/Combating the Financing of Terrorism) regime, the recent unveiling of the Beneficial Ownership Transparency Bill marks a pivotal step. This bill, in line with global standards set by the Financial Action Task Force (FATF), ensures comprehensive access to precise information on company ownership. Scheduled for Parliament discussion […]

The Ministry of Economy conducted a press briefing, unveiling an overview of decree details aimed at identifying true company owners and preventing ownership concealment using complex structures. The new decree significantly complements previous legislation (including Resolution No. 58 of 2020), ensuring the collection and registration of actual beneficiary data for all private enterprises, including those […]