Cyprus: Entry Into Force Of Cyprus – Luxembourg Double Taxation Agreement   The new double taxation agreement between Cyprus and Luxembourg, which was signed on 8 May 2017, has now been ratified by both countries. It will be applicable to taxes withheld at source on income arising after 1 January 2019 and other taxes chargeable...Read More

British Overseas Territories will fight orders to open up beneficial ownership registers   On Tuesday (1 May 2018), the UK government reluctantly agreed to force British Overseas Territories to introduce publicly available registers of company beneficial ownership. A large group of campaigning MPs from all three parties, led by Labour MP Margaret Hodge and Conservative...Read More

Central banks prepare for possible financial unrest at onset of Brexit The European Central Bank and the Bank of England will convene a technical working group on risk management in the period around 30 March 2019 in the area of financial services. The group will be chaired by the President of the ECB and the...Read More

New obligation for Spanish companies to disclose their ultimate beneficial owners On 21 March 2018, Spanish Ministry of Justice issued Ministerial Order 319/2018 that requires Spanish non-listed companies to disclose their ultimate beneficial owners (“UBO“) to the Companies Registry and keep those information updated. New UBO reporting measure is motivated by Directive 2015/849 of the...Read More

Bahamas Removed from EU List of Non-Cooperative Jurisdictions The European Union Code of Conduct Group has officially recommended the Bahamas’ removal from the list of non-cooperative jurisdictions for tax purposes. The Government received confirmation of this in writing on April 17, 2018 from the Secretariat of the Code of Conduct Group. At its meeting on...Read More