Control over lawyers is tightening in the US and Switzerland in the fight against money laundering. As of January 1st, amendments to the Corporate Transparency Act have come into effect in the US. According to information published in FT, these amendments aim to hold lawyers, accountants, and other providers of corporate services accountable for aiding […]

In the United States, there is a desire to stop paying unemployment benefits to millionaires (yes, they have been receiving them all this time). Such a bill was introduced by a bipartisan group of lawmakers, including representatives from both houses of the US Congress, Fox News reports. They propose to prohibit people earning over $1 […]

Abu Dhabi Emerges as a New Haven for the World’s Wealthiest, according to Bloomberg. Details: Affluent individuals worldwide are gradually shifting their assets from traditional “safe havens” like the Cayman Islands, Switzerland, and the British Virgin Islands to Abu Dhabi. In 2016, the UAE capital had only 46 Special Purpose Vehicles (SPVs) used for asset […]

The tax authority clarified the procedure for voluntarily disclosing information on unpaid taxes on cryptocurrency assets. Her Majesty’s Revenue and Customs (HMRC), the UK tax authority, has released guidance on voluntarily disclosing information regarding unpaid taxes on income or profits from cryptocurrencies. If taxes have not been paid for several years, the number of years […]

On the website of the Israeli Financial Intelligence Agency, a statement was published about the creation of a Task Force, which involved the financial intelligence units of the following countries: Australia, Canada, Estonia, France, Germany, Israel, Liechtenstein, Luxembourg, the Netherlands, New Zealand, Switzerland, the United Kingdom, and the United States. The goals of establishing the […]

At the beginning of December, the Cypriot parliament adopted a bill on expedited naturalization by an overwhelming majority of votes. This will allow foreigners to obtain citizenship under certain conditions. According to the new law, applicants must have a stable income and proficiency in the Greek language. However, the initiators of the law emphasize that […]

Activists from the “Socialist Youth of Switzerland” movement, in collaboration with environmental activists, have collected over a hundred thousand signatures in support of their initiative to introduce a 50% inheritance tax on assets exceeding 50 million francs. Currently, inheritance is not taxed. The initiators of the proposed tax argue that this will allow approximately 6 […]

UniCredit has been excluded from the list of global systemically important banks, with its place being taken by the Chinese Bank of Communications, as reported by the Financial Stability Board. This list includes banks that experts consider most important for the global economy and is updated annually. For 2023, it comprises 29 organizations, one fewer […]

Cyprus’ integration into the Schengen Area and the Visa Waiver program stands as a paramount objective for the Foreign Ministry in the upcoming year, according to Foreign Minister Constantinos Kombos, who made this announcement on Tuesday. During the presentation of the 2023-2024 action plan for the ministry, Kombos highlighted that the foremost priority, ranking at […]

Following the recent update of the list of non-cooperative jurisdictions for tax purposes, according to the Code of Conduct Group (COCG) program as of February 2024, efforts to evaluate jurisdictions will continue. This includes specific assessment criteria, incorporating the following steps: At the COCG meeting on November 22, 2023, a proposal for monitoring the implementation […]