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Speculation Tax effect on January 1, 2016

Despite a lot of criticism by the State Council, the speculation tax will probably still be implemented as  from January 1, 2016.

The State Council wonders why the speculation tax applies only to individuals and not to companies & why mutual funds and investment companies are exempt.

The speculation tax is a tax of 33 % on capital gains on listed financial products sold within six months.

 

No more declarations for payments @ Cyprus , Luxembourg and Seychelles

Cyprus, Luxembourg and Seychelles were deemend "non-compliant" from December 1st, 2013 until October 29, 2015 by the Global Forum. However, the reporting requirement in respect of persons established in any of these three areas shall apply only if such jurisdiction during the entire taxable period were considered "non - compliant".

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Speculation Tax effect on January 1, 2016

Despite a lot of criticism by the State Council, the speculation tax will probably still be implemented as  from January 1, 2016.

No more declarations for payments @ Cyprus , Luxembourg and Seychelles

Cyprus, Luxembourg and Seychelles were deemend "non-compliant" from December 1st, 2013 until October 29, 2015 by the Global Forum.

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