US FATCA And Cayman Funds

In November 2013, the Cayman Islands Government entered into a Model 1B Intergovernmental Agreement with the United States (the IGA) which provides the framework for the implementation of the US Foreign Account Tax Compliance Act (FATCA) in the Cayman Islands. Cayman entities are not directly subject to FATCA however the IGA requires the Cayman Islands to implement legislation requiring certain Cayman entities to identify and report US accounts as set out in this Guide.

The […]

By |December 24th, 2014|

Cyprus: Dynamic Tax Planning: Ring-Fencing Management And Control

A. INTRODUCTION

It has now become crucial that actual substance is infused into the operations of international business Companies in order to safeguard their tax residency. This need has arisen from the worldwide financial crisis that has led Governments to seek for mechanisms to protect or increase their tax base outside their jurisdictions by disputing the tax residency of companies in countries that are considered as low tax jurisdictions.

In this publication, we shall examine in […]

By |December 23rd, 2014|

The Russian “Deoffshorisation” Law – The Cyprus Perspective Analysis Of The Possible Actions To Be Taken.

A. Introduction

As of 1st January 2015, the new amendments to the Russian Federation Tax Code will take effect. The new rules introduced can be broken down to four main pillars:

The purpose of this report is not to provide an in-depth analysis of the new Law in Russia as we believe that the law has been adequately analysed already by Russian law and accounting firms.

What we try to provide is a more practical approach by […]

By |December 23rd, 2014|