• amazon sign in the empty sky paying zero tax for 2018

Amazon did not pay any corporate tax legally for 2018

It is widely known that Amazon is one of the largest companies in the world with revenues in 2018 exceeding USD 232 billion. The company is known not only with its online store, but also

  • Bulgaria has low wages

Bulgaria has the most affordable labour force in the EU

A report released by Eurostat revealed the countries where employees get the lowest hourly rates in the EU. Bulgaria has the lowest average hourly rate (EUR 3,5), followed by Romania (EUR 4,2), Lithuania (EUR 5,5)

Andalusia abolishes most of its inheritance taxes

The Spanish province of Andalusia was widely known for its high inheritance tax rates. Since the tax authorities were assessing the inheritance tax on the theoretical value of the properties concerned (irrespective of the market

The United States and France lobby for a minimum global corporate tax rate

In February 2019, the U.S. Treasury Secretary Steven Mnuchin stated that the United States supports the proposal of France to impose a worldwide minimum corporate tax rate for developed countries. More specifically, Mr Mnuchin stated

Payment transfers to and from EU countries that do not use euro will become cheaper

The European Union adopted amendments to Regulation No 924/2009 that will allow EU countries that are not members of the eurozone to benefit from the very low cross-border fees applying in the eurozone. The eurozone,

The post-Brexit UK may be based on the Singapore model

Introduction According to Jeremy Hunt (the UK Foreign Secretary), Singapore can serve as a model for the post-Brexit UK. In an article written by him for Daily Mail in December 2018, he discusses the history

Poland decreases its corporate tax rate in specific cases

On the 1st of January 2019, a new Polish tax legislation entered into force. It reduced the corporate income tax rate to 9% for taxpayers having revenues equal or less than EUR 1,200,000. The new

Bulgaria – the 2nd largest Bitcoin owner in the world

Finding a treasure In the recent news, Bulgaria came up as the country holding the second largest amount of Bitcoins in the world. The surprising statistics relate to the fact that the Bulgarian government owns

Identity theft – a loss or an excuse for tax fraud?

Losing a house due to identity theft A controversial story related to identity fraud has shaken a small village in the Netherlands in the province of West Groningen, where a house of a former local

Multinationals prefer low-tax over no-tax countries

Changing paradigms In the last five years, there has been a steady increase of the number of multinationals who prefer to register their subsidiaries in low-tax jurisdictions, and not in no-tax jurisdictions. In this regard,

EU cuts the blacklist of tax havens

On the 2nd of October 2018, the Council of the EU revised the EU’s list of non-cooperative tax jurisdictions. During the revision, 3 jurisdictions, namely, Liechtenstein, Peru, and Palau, were removed from the so-called “EU

Greece uses drones to find tax fraud

The Greek tax authorities announced that they used surveillance drones to document tax violations on the island of Santorini. The drone operation lasted one day and aimed at collecting evidence indicating that operators of nine

Italy plans a 10-year tax holiday for residents of Sicily, Sardinia and Calabria

People who dream about spending more time in Southern Italy, enjoying its delicious cuisine and sunny climate, may get a new tax-friendly opportunity. The Italian government has proposed a 10-year tax break for Italian and

Georgia – Free Zone destination

What is a Free Zone? A Free Zone is a part of the territory (in this case of Georgia) with defined borders and a special status granted by law. The main feature of the special

Uganda first to introduce a Gossip Tax

The world has witnessed various weird taxes, such as the Russian tax on beards, the tax on Chinese immigrants into Canada, the English tax on fireplaces and windows. Uganda, a country in East Africa, decided

Belgians pay fines and taxes for showing their national flag

The Belgian national soccer team started their participation in the World Cup in Russia with two consecutive wins, one against Panama and one against Tunisia. To support their national team, many Belgians have put flags

10 jurisdictions with no inheritance tax

There is a growing social movement arguing that people should become wealthy by working hard, and not by inheriting wealth from their relatives. That is why many governments impose significant inheritance taxes, also known as

After Brexit, the EU countries will pay more tax to the EU

In a few months, the United Kingdom (UK) will not only leave the European Union (EU), but will also stop paying contributions to the EU budget. This will put the EU in a difficult position