The largest cryptocurrency exchange Binance has agreed to monitor all user transactions, transmitting information about those whose transaction volume exceeds $1,000, in accordance with the new rules of the Global Travel Rule (GTR) organization, developed to combat money laundering by the Financial Action Task Force (FATF). Binance’s joining of GTR reflects its desire to comply […]

With 154 votes in favor and 22 abstentions, the parliament approved on first reading amendments to the Bulgarian Citizenship Act proposed by the Council of Ministers, introducing a requirement for citizenship applicants to speak Bulgarian. The condition will apply to those applying for Bulgarian citizenship based on Bulgarian descent, who constitute the largest group of […]

As part of efforts to increase accountability for tax compliance, the US Internal Revenue Service (IRS) will take action against 125,000 high-income taxpayers who have not filed tax returns from 2017 to 2021. Starting this week, the IRS will begin sending letters demanding tax compliance to more than 125,000 taxpayers. Approximately 25,000 of these letters […]

In 2022, over 48 thousand people obtained Belgian citizenship, which is 24% more than in 2021, but still did not reach the record value of the 21st century, according to the federal migration center Myria. Three-quarters of new Belgian citizens come from non-EU countries (36,233 people). Among them, Moroccans predominate (10%, or 4,842 people), followed […]

On December 21, 2023, Hong Kong’s FSTB and IRD released a consultation paper on adopting the Global Anti-base Erosion Model Rules (GloBE Rules) and the Hong Kong minimum top-up tax (HKMTT) to address international tax reform. The proposal targets multinational enterprises (MNEs) with annual revenue over EUR750 million, aiming for a minimum 15% tax on […]

UK and Switzerland have signed an agreement on mutual recognition of laws and regulations in the field of financial services, which will facilitate access to the market for banks, insurers, and asset managers after Brexit. After three years of developing the details, this is the first significant agreement after Brexit that brings together the two […]

According to the Activities Plan of the Finance (Plano de Atividades da AT) for 2024, which is part of a set of measures to combat tax and customs fraud and tax evasion, the Portuguese tax authority intends to intensify tax control this year in several directions: The application of the NHR regime (Tax Regime for […]

OFFICIAL GAZETTE OF THE REPUBLIC OF CYPRUS Changes have been made to the naturalization law. Previously, the minimum period of legal residence in Cyprus to apply for naturalization was 7 years. Now this period has been extended to 8 years. Additionally, in the last 12 months before submitting the application, the applicant must not be […]

In the United Arab Emirates, new measures (UAE) have been introduced to protect trusts and funds, making them the most secure in the world. Amendments to the DIFC Law, adopted on March 14, establish a clear preference for DIFC legislation, meaning that foreign court decisions will not be enforced if they contradict this legislation. These […]

Dubai’s Department of Economy and Tourism (DET) has launched the ‘Dubai Unified Licence’ (DUL) to streamline business operations in the city. This unique identification is provided to all businesses, old and new, regardless of their licence type. It aims to simplify processes, enhance efficiency, and boost transparency. The DUL initiative, in collaboration with the Dubai […]