The International Monetary Fund recommends Cyprus to consider the restoration of real estate tax, which was completely abolished this year, in order to increase revenues to the treasury.

Amendments have been made to the Law of Estonia regarding the getting a residence permit by non-residents. Requirements to the definition of a place of residence and control over entrepreneurial activity have significantly increased.

Austrian Parliament recently passed a new law on the registration of beneficial owners of Austrian legal entities. After obtaining the necessary approval of the Austrian federal states, the law is expected to be published in the Federal Law Gazette in September 2017 and will enter into force on January 15 2018.

Kazakhstan and the US signed the Intergovernmental Agreement FATCA, which will automatically exchange financial information on the taxpayers of residents of each country to support efforts to enforce tax laws.

The agreement was signed in Astana on September 11, 2017. Minister of Finance of Kazakhstan emphasized the importance of FATCA as a global data exchange system and that he expects that the agreement will have a positive impact on the taxation system in Kazakhstan.

By the end of September, the legal status of Bitcoin cryptography will be determined in Ukraine.

According to the National Bank of Ukraine, its definition is complicated by the lack of a consolidated approach to the classification of Bitcoin and the regulation of transactions with it.

The National Bank has already started a dialogue with the Ministry of Finance, the DFS, the State Financial Monitoring Service, the National Securities and Stock Market Commission, and the National Commission for the regulation of financial services markets to develop a common position on the legal status of Bitcoin and its regulation.


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