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Named and shamed: The implications of appearing on the EU's sanctions list
Regulatory and Tax

Named and shamed: The implications of appearing on the EU's sanctions list

What is the EU's sanctions list? How is it produced and amended? What are the implications of being listed? Aki Corsoni-Husain answers these questions in this article, originally published by ThomsonReuters©
New mandatory disclosure rules – Directive 2018/822/EU
Regulatory and Tax

New mandatory disclosure rules – Directive 2018/822/EU

Tax transparency has been a hot topic on the agenda of governments worldwide following the introduction of anti-avoidance and transparency measures within the European Union.
Cyprus and Kazakhstan sign convention for avoidance of double taxation
Regulatory and Tax

Cyprus and Kazakhstan sign convention for avoidance of double taxation

On 15 May 2019, the Convention for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with respect to Taxes on Income was signed, in Nursultan, between the Government of Cyprus and the Government of Kazakhstan. Later, on 24 May 2019, Cyprus ratified the relevant double tax treaty it had signed with Kazakhstan.
CySEC deadline for statistical information fast approaching
Regulatory and Tax

CySEC deadline for statistical information fast approaching

On 28 June 2019, the Cyprus Securities and Exchange Commission (CySEC) issued a circular advising Cypriot investment firms (CIFs) that a new version of the form used to collect statistical information on an annual basis, form RBSF-CIF Version 2, has been issued.
Sanctions screening guidance - Wolfsberg Group
Regulatory and Tax

Sanctions screening guidance - Wolfsberg Group

The Wolfsberg Group is an industry association of 13 global banks which came together in October 2000 with the objective of developing financial service industry standards. In January 2019, the Wolfsberg Group issued guidance on sanctions screening (the Guidance) aiming to help Financial Institutions (FIs) understand and develop controls which would detect, prevent and in the event of breach, manage any apparent sanctions risk. The aim of the Guidance is not for all FIs to apply the elements outlined, rather, it seeks to demonstrate where sanctions screening can be an effective part of a wider sanctions compliance programme.
Cyprus Ministry of Finance presents draft EU Anti-Tax Avoidance Directive
Regulatory and Tax

Cyprus Ministry of Finance presents draft EU Anti-Tax Avoidance Directive

The Cyprus Ministry of Finance has presented a draft bill implementing the EU Anti-Tax Avoidance Directive (ATAD) which aims to combat corporate tax avoidance and create a level playing field for businesses operating within the EU.