News

On the 31 of March Singapore and Ghana signed an agreement on avoidance of double taxation. This agreement reduced rates of income tax.

The agreement provides that withholding taxes on dividends, interest and royalties normally will not exceed seven percent. Withholding taxes on fees will be limited to 10 percent.

The National Bank of Ukraine has agreed the rules for AVERS No.1 international payment system and issued certificate No. 33 of 23 March 2017 to the payment institution for this system, CREDIT OPTIMA BANK PJSC(Kyiv).

Information about AVERS No.1 international payment system has been entered  into  the Register of payment systems, settlement systems, participants in, and service operators of the payment infrastructure.

According to the rules of AVERS No.1 international payment system, participants in this payment system may be banks of Ukraine and non-bank financial institutions licensed  to execute  money transfers without opening accounts under agreements entered into with the payment institution and provide services related to money transfers to its users through the payment system. CREDIT OPTIMA BANK PJSC is the payment system’s settlement bank.  Read more on the website of The National Bank of Ukraine.

Panama will host two meetings of the Global Forum on Transparency and Exchange of Tax Information of the Organization for Economic Co-operation and Development (OECD) starting next June 12.
This is the Meeting of the Joint Review Group and the Sixth Meeting of Competent Authorities of the Global Forum, which will run until the 16th of that month, said the Foreign Ministry of Panama in a statement.
The Global Forum is a body created in 2000 by the OECD, of which Panama has been a member since 2009, which aims to avoid tax evasion and eradicate tax havens. 

The National Bank of Ukraine has simplified the registration procedure for agreements on granting FX loans to resident borrowers by nonresidents. This move by the regulator aims to streamline the requirements to operations involving raising external financing by residents. Read more on the website of The National Bank of Ukraine.

Italy and Switzerland agreed to allow group requests for the information regarding to tax matters.

This step follows after Protocol to the Agreement on Avoiding Double Taxation came into force in July 2016 of the, which provides automatic exchange of tax information in accordance with the new OECD standard on the General Reporting Standard.

This change means that both competent authorities can request information from each other on the basis of an open model of behavior, without the need to indicate the name and data of the taxpayer.

Facebook

all news