Tax Flash Reports

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Changes in thin cap rules

A bill that would amend Russia's thin capitalisation rules has passed its third reading in the State Duma.

Summary of key changes in tax legislation

At the start of the new year, we traditionally summarise recent legislative initiatives and comment on key tax developments effective from 1.1.2016 and expected changes. You can find more details in our tax flash reports.

The Ministry of Finance announce planned amendments to the Cyprus IP tax regime in line with the OECD BEPS Action 5 with maximumtransitional periods

The Ministry of Finance announced on 30 December 2015 that it will promote amendments to the current Cyprus Intellectual Property (IP) tax regime in order to introduce a new IP tax regime as from 1 July 2016. The new IP tax regime will be fully aligned with the conclusions of the OECD’s Base Erosion and Profits Shifting (BEPS) Action 5 report released in October 2015.

Tax law amendments enhance Cyprus’ corporate and personal tax competitiveness – Main amendments

Further to our newsletter №-3-2015, following a meeting held on 10 December 2015, the House of Representatives voted additional proposals which amend the tax framework in relation to individuals and companies.

Tax amnesty to be extended for six months

On 3 December 2015, in his annual state-of-the-nation address to the Russian Federal Assembly, President Vladimir Putin proposed extending the tax amnesty and improving how it works.