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The European Commission has announced that its ongoing inquiry into advance tax rulings will be expanded to cover all European Union member states. Continue reading...

The Luxembourg Government is to provide the European Commission with a list of the tax rulings issued by its tax authorities, along with a list of the beneficiaries of its concessionary tax regime for intellectual property income. Continue reading...

The EU Taxation and Customs Union Directorate-General has released an updated report that charts the headline rates, concessionary rates, super-reduced rates, and exceptional value-added tax (VAT) rates in place across EU member states, current to January 1, 2015. Continue reading...

Barbados and Cyprus have announced that they are to begin negotiating a double taxation agreement to strengthen economic relations between the two territories. Continue reading...

The Bulgarian Minister of Finance, Vladislav Goranov, has asked the European Tax Commissioner, Pierre Moscovici, to review the legality of a new Greek tax charge, which affects Bulgaria, Cyprus, and Ireland. Continue reading...

"Tax Freedom Day" has come two days later for taxpayers across the European Union in 2014, according to analysis from the Institut Économique Molinari. Continue reading...

The Cyprus International Financial Services Association has highlighted that those paying the Government their immovably property tax dues before October 31, 2014, ahead of the November 30, 2014, deadline, will receive a 15 percent discount. Continue reading...

The Swiss Federal Council has adopted dispatches on five double taxation agreements, which will now be submitted to Parliament for approval. Continue reading...

Cyprus and Iceland have released the text of a new double tax agreement signed between the two nations on November 14, 2014. Continue reading...

On December 2, an intergovernmental agreement for the implementation of the Foreign Account Tax Compliance Act was signed between Cyprus and the United States. Continue reading...

India is said to be seeking a revision to its 1994 double tax agreement with Cyprus before the territory can be declassified as a notified jurisdictional area. Continue reading...

European Tax Commissioner Algirdas Šemeta (pictured) has said that the latest Tax Trends report confirms concerns about high levels of labor taxation, and shows that environmental levies remain under-used in many member states. Nations could improve the efficacy of their regimes by hiking...

The International Monetary Fund has praised measures taken by Cyprus – including the hike to the corporate income tax to 12.5 percent, the increase in the VAT rate to 18 percent, and the tax hike on interest to 30 percent – as part of an "ambitious fiscal consolidation" plan, which the Fund said...

The Permanent Court of Arbitration in The Hague has found that the Russian Federation subjected the oil company Yukos to tax reassessments with the objective of destroying the firm and expropriating its assets. It ruled that former Yukos shareholders should be paid USD50bn in compensation...

Russia's Finance Minister, Anton Siluanov, has told President Vladimir Putin that a new bill to deter Russian tax residents from hiding income offshore is expected to raise about RUB30bn (USD844m) from overseas accounts in Cyprus and the Netherlands. Continue reading...