TUESDAY, 12 DEC 2017

 

CONNECT

Facebook Linked In Twitter
MTN_07/07-10/04_728x90px
AlphaBank_30/11-10/1_266x90px
IMH LTD

Kasoulides Welcomes Middle East Peace Process Efforts

Anastasiades: Cyprus Is Proud Of Its Armenian Community

IMH LTD
PwC_09/12-17/12_468x60px

ECONOMY

Cyprus to Sign OECD Treaty on Tax Avoidance

Cyprus to Sign OECD Treaty on Tax Avoidance

Cyprus will sign the Multilateral Convention to Implement Tax Treaty Measures to Prevent Base Erosion and Profit Shifting (MLI), Cyprus’s Ministry of Finance has announced.

The ministry said that Cyprus’s Council of Ministers on April 5 formally approved the signing of the multilateral instrument.

The MLI is designed to swiftly incorporate into countries’ existing tax treaties new measures designed to prevent tax avoidance by multinational corporations and to speed the resolution of tax disputes between multinationals and governments.

Slated to be signed in Paris on June 7, the MLI provisions reflect the OECD/G20 base erosion profit shifting (BEPS) plan minimum standards under Actions 6 and 14 and other BEPS tax treaty related output. The BEPS plan was endorsed by the G20 in November 2015.

MLI will sit on top of and modify existing tax treaties so, following the signing, countries will need to go to parliament only once to ratify many tax treaties, MNE Tax reports.

Cyprus was among about 100 countries that participated in drafting the MLI and its explanatory statements.

MORE ON ECONOMY

Trade Deficit Increases in January-September 2017

Trade deficit of Cyprus' foreign trade increased to €3.165,5 mn in ...

Cyprus GDP 0.9% Increase on Quarterly and 3.9% on Annual Basis in Q3 2017

Seasonally adjusted GDP raised by 0.6% in both the euro area (EA19) and the EU28 during ...

Completion of Voluntary Early Exit Scheme

Hellenic Bank Public Company Limited (the Bank) announces the successful completion of a ...

FROM AROUND GOLDNEWS

   

Westfield Shopping Centres Bought In $25bn Deal

The owner of Westfield shopping centres is being bought for $24.7bn (£18.5bn) in a deal which will see the malls launched in new markets. French property ...
   

TUS Officially Launches Its Direct Flights to Rome

In a ceremony held at the International Larnaca Airport Glafcos Clerides on Monday 11 December and in the presence of the Minister of Transport, Communications ...
   

New Head Offices for USB Bank

In line with its strategic re-organization, development and modernization, USB Bank has moved into its new Head Offices, in Engomi, Nicosia, that started ...
   

Αndrey & Julia Dashin’s Foundation Collaborates with Cyprus Red Cross for another Christmas Campaign

Andrey & Julia Dashin’s Foundation is happy to announce its collaboration with the Cyprus Red Cross Society Youth Section for the second year held ...
   

EY Announces Collaboration with SAP

EY announced that it is working together with SAP to further advance deployment of blockchain across industries worldwide. Under their existing alliance ...
   

Cyprus Airports Celebrate Exceeding 10 Million Passengers

Passenger traffic has exceeded 10 million passengers in Larnaca and Paphos airports, a milestone celebrated, by Hermes who manages the two airports. The ...
   

Trade Deficit Increases in January-September 2017

Trade deficit of Cyprus' foreign trade increased to €3.165,5 mn in January-September 2017 compared to €3.003,4 mn in the corresponding period of ...
   

Businesses Consider Corruption to Be Widespread in Cyprus

All companies which participated in a survey consider corruption to be widespread in Cyprus, according to the Eurobarometer on corruption, which measures the ...
 

YOUR COMMENTS

HEADLINES

MOST POPULAR

Deloitte_2016_300x250px
Banking_Forum_23/11-14/12_300x250px

IMH LTD