Germany is in the process of revamping its citizenship law, streamlining the pathway to obtaining German nationality and also introducing the option of dual citizenship. The new citizenship law of Germany was unveiled on Wednesday (23.08.2023). Proposed by Interior Minister Nancy Faeser, the legislation aims to simplify the process of obtaining dual citizenship and make […]

  Binance will change its service provider for euro deposits and withdrawals through the Single Euro Payments Area (SEPA) bank transfers. Our current partner, Paysafe, will no longer offer these services to Binance users starting from September 25, 2023,” a representative from the exchange reported. SEPA, the Single Euro Payments Area, is an integrated cross-border […]

The Israeli Tax Authority (ITA) has released a new regulation, No. 01/2023, replacing the old No. 23/2001, for Israeli taxpayers who wish to utilize the mutual agreement procedure in accordance with Israel’s double taxation avoidance agreements. A request to initiate the mutual agreement procedure must be submitted to the ITA within 3 years from the […]

The Italian government has decided to stop issuing Golden Visa visas to investors from the Russian Federation and the Republic of Belarus. The move comes after more than a year since the advice provided by the European Commission. According to official information, during 2022, during the period of consideration of this decision, Italy approved 32 […]

An important announcement from the Government of Bermuda: the country has reached an agreement with the OECD and is coming to a decision to end its tax-free status. As part of this initiative, Bermuda plans to implement a corporate income tax, as well as taxes on capital gains and dividends. An important step will also […]

  On Tuesday, August 8th, the United Nations released a preliminary report regarding the enhancement of its role in setting and shaping global taxation regulations. This report was prepared following the approval and adoption of a resolution project by several African countries at the end of 2022. The official version of the report is expected […]

  On Monday, August 7th, Burkina Faso officially terminated the double taxation agreement with France, which had been in effect since 1967. According to official sources, this decision was prompted by France’s refusal to consider Burkina Faso’s requests for a revision of the agreement in 2020 and 2021. Earlier, France had announced the suspension of […]

The Ministry of Finance of Cyprus commented on Russia’s decision to suspend certain provisions of the tax agreement between the two countries. According to the Cypriot Ministry of Finance, Russia’s decision to suspend the implementation of certain provisions of the double taxation agreement with Cyprus does not portend additional negative consequences. The diplomatic channel was […]

Canada is updating its transfer pricing regulations in accordance with international standards. The proposed changes aim to enhance clarity and attract new investments. The analysis of comparability, which involves defining transaction terms and comparing them with uncontrolled transactions, will form the basis for applying the “arm’s length principle.” Commercial and financial relationships between related entities […]

  The International Anti-Money Laundering Group (FATF) has decided against adding Russia to the “gray” or “black” lists, which could have further isolated the Russian economy. According to reports, the “black” list of countries established by FATF remains unchanged following the meeting. It still includes North Korea, Iran, and Myanmar. Cameroon, Croatia, and Vietnam have […]