The Cyprus Tax Department, announced that the deadline for submission of the tax return 2019 and payment of the final tax due is extended from October 31 to November 30, 2020
Based on the global standards on fair taxation and anti-money laundering promoted by the Financial Action Task Force (FATF), Caribbean Financial Action Task Force (CFATF), Organization of Economic Cooperation Development (OECD), and the European Union (EU), Belize has adopted the Economic Substance Act, 2019 (“ESA”) to ensure improved provisions for substantial economic presence to be fulfilled by certain commercial entities (‘entity’) that are registered and conduct business in Belize.
During the past few months, it was highly under discussion the matter raised by the Russian President, Vladimir Putin for the changes he is willing to make in the Russian Double Tax Treaties with various countries by increasing the withholding taxes on dividends and interests to 15%.
