/Living

The Success of the Indonesian Tax Amnesty Program

Indonesia, one of the biggest economies in Southeast Asia is implementing an ambitious tax amnesty program that aims to repatriate assets from tax heavens. Thus, the country hopes to reduce social inequality, stimulate its economic growth, and increase tax compliance on a sustained basis. The program includes tax incentives and immunity from prosecution in return for [...]

Georgia amends its Tax Code

Georgia continues to increase its level of attraction as a business hub. On the 1st of January 2017, the latest amendments of the Georgian Tax Code came into force. The new fiscal regime is simplified and made more liberal, in order to stimulate the country’s economic growth. In order to improve its investment environment, Georgia took [...]

Swiss voters reject proposed Tax Reform

On 12th of February 2017, Switzerland held a referendum  federal bill on Corporate Tax Reform III proposed by the government in 2016. The aim of the reform was to bring the Swiss corporate tax system in line with internationally accepted standards. However, the majority of Swiss voters (over 59%) opposed the proposal, thus letting the future [...]

Brussels does not like dancing!!

Brussels Municipality has adopted and enforced tax on ‘usual dancing parties’, which has immediately been called ‘one of Europe’s more obscure fiscal levies’. As result, owners of cafés, bars, and music clubs where dance parties are being held are obliged to pay EUR 0,40 for every person swinging on the dance floor per night. The dancing [...]

Rich Belgians massively move to Switzerland

Belgium witnesses a new emigration tendency. Over the last few years, an increasing number of rich Belgian citizens decided to leave the country and relocate to more tax-friendly jurisdictions, such as Switzerland and Luxembourg. According to the Belgian Federal Public Service of the Interior, more than 22.000 Belgians reside in Switzerland. The reported number has increased [...]

Golden Visa In Cyprus

In 2016, the Cypriot government revised the laws governing the Golden Visa Program, i.e., a governmental program that allows non-EU citizens who invest in the country to obtain permanent residence in Cyprus. The program aims to attract wealthy foreign citizens to the third most populous island in the Mediterranean. If the program application is approved, permanent [...]

How to arrange a will in Dubai?

A will is a document which explains the manner in which a person’s property will be distributed after his/her death. Deceased’s family members, friends, organisations, and public institutions are the usual beneficiaries of wills. Assets transferred by means of wills may include, for example, money, jewellery, real estate, vehicles, and shares in companies. Expatriates residing in [...]

Citizenship by Investment in Cyprus

In order to boost foreign investment and attract high net worth entrepreneurs, the government of Cyprus has introduced an incentive that allows individuals to obtain Cypriot citizenship in exchange for significant financial investments in the country. The program, which is officially called “Scheme for Naturalization of Investors in Cyprus by Exception”, grants Cypriot citizenship to non-Cypriot [...]

Inheritance Taxation in Bulgaria Extremely Low

Bulgarian citizens who inherit property worldwide and foreign individuals who inherit movable and immovable property located in Bulgaria are subject to Bulgarian inheritance tax. Inheritance taxation in Bulgaria is governed by Articles 29 to 43 of the Local Taxes and Fees Law. Who is paying inheritance tax? The following persons are subject to inheritance tax: (1) [...]

A report reveals the countries with lowest and highest rates of property transfer tax

The Australian accountancy association UHY Haines Norton has recently published a report indicating the countries with the highest and the lowest property transfer taxes. The association examined 26 countries, including G7 jurisdictions and the most prominent world emerging economies. The report estimates the property transfer tax rates applying to the purchase of a residential property that [...]

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