In February 2024, the Council of the Organization for Economic Cooperation and Development (OECD) approved updated comments to Article 26 (Exchange of Information) of the OECD Model Convention. These changes aim to streamline the process of international tax cooperation and information exchange. As a result of the update, technical amendments were made to align with […]

The new rules of the EU will expedite the process of conducting intra-eurozone payments to just 10 seconds, thereby completing the creation of a single capital market within the union. According to information released by the press service, the European Union Council has adopted a resolution expanding access to instant euro payments for individuals and […]

Israel’s Ministry of Finance is advancing a bill to repeal the “Milchen Law,” which granted tax exemption to repatriates and returning Israelis for reporting taxes outside of Israel for up to 10 years. The new law will also grant tax inspectors the right to request declarations from foreign companies owned by new repatriates. According to […]

Spanish Prime Minister Pedro Sánchez, during a visit to a suburb of Seville, announced plans to address the issue of investment-based residency permits. He stated that the Council of Ministers would examine a report from the Minister of Housing and Urban Agenda aimed at amending a law passed by the Partido Popular in 2013. This […]

The Georgian Bank of Georgia (BOG) has announced its intention to acquire 100% of the shares of the Armenian bank, Ameriabank. One of the owners of Ameriabank was Ruben Vardanyan. Initially, the Georgian bank will purchase 90% of Ameriabank, while the remaining 10% will be retained by the European Bank for Reconstruction and Development (EBRD) […]

El Salvador ‘s President, Nayib Bukele, announced a groundbreaking initiative yesterday, offering “5,000 free passports” to highly skilled professionals such as scientists, engineers, doctors, artists, and philosophers from abroad. Bukele, in a post on X, emphasized that this number represents less than 0.1% of El Salvador’s population, making it feasible to grant full citizenship status, […]

In recent years, Gulf countries have significantly broadened their DTT networks with various foreign jurisdictions. However, until 2018, there hadn’t been a single DTT signed between GCC states, impacting holding, financing, and IP structuring in the region. Yet, shifts in international and regional political and tax agendas have spurred changes. UAE-KSA: The first DTT between […]

The Ministry of Finance strengthens its control over cryptocurrencies and any type of digital currency and asset, such as NFTs, and seeks the ability to seize these assets in the event that users or companies have debts with the Administration. The institution led by María Jesús Montero proposes to reform the General Tax Law, specifically […]

European Union officials, along with the Union’s Head of Visa Policy and its representative in Barbados, are currently engaged in discussions with all Caribbean countries participating in Citizenship by Investment (CBI) programs. The focus of these meetings, as disclosed by local sources familiar with the discussions, includes the future of visa-free Schengen travel, EU concerns […]

The Potrugal government has approved the State Program of the XXIV Constitutional Government, covering the period until 2028. This action plan has already been presented in parliament and will be implemented gradually after its approval. The program represents a significant change in Portugal’s life compared to the previous government. It addresses many aspects, but in […]