The rise of ‘digital nomads’ in Greece

Digital nomads

The new reality, introduced by the consecutive lockdowns due to the COVID-19 pandemic, in combination with the robust networking infrastructure, through the completion of the licensing process of 5G networks, as well as the wider technological ecosystem in Greece has paved the way for exponential growth of the digital nomad population.  According to an extensive … Read more

Malta monitoring by the FATF: A yellow flag that could be economically beneficial

Malta flag

Malta is a socioeconomic miracle. Out of a rocky island, a nation of highly educated people, managed to establish an international corporate centre, a technological hub, a paradise for online gaming and a healthy leisure industry. Malta must be the only country in the world, where most placeholders for advertisement in the airport are occupied … Read more

A closer look at TP documentation in Cyprus

closer look at TP documentation in Cyprus

While many EU countries have already adopted and apply in their national legislation the OECD Transfer Pricing Guidelines, Cyprus is the last country to introduce transfer pricing (TP) legislation in its income tax law. To date, Cyprus has had no detailed TP legislation included in its income tax law. In 2002, Cyprus legislation was amended … Read more

Reviewing exchange of information: The case of Cyprus

Reviewing exchange of information: The case of Cyprus

The European Court of Auditors (ECA) carried out an audit in five member states including Cyprus in order to determine the effectiveness of the system for exchange of tax information in the EU. The ECA’s conclusions were recorded in Special Report No. 03/2021 under the title ‘Exchanging tax information in the EU: solid foundation, cracks … Read more

The arrival of DAC6 in Cyprus

DAC6 in Cyprus

In anticipation of the impending expiry of the deadlines for reporting according to DAC6 guidelines, many European countries have already inaugurated the technical guidelines and platform for the automatic filing and exchange of information. Among them, the Cypriot tax authority, after the adoption of a six-month deferral because of the COVID-19 pandemic, published on January … Read more

TP in Financial Arrangement, the case of Chevron

Chevron Transfer Pricing (TP) case regarding an intragroup financial arrangement was heard over 21 court days in Australia. More than 20 witnesses and experts from financial and tax sectors participated in the investigations of the case. Snapshot of the group structure Chevron Inc, the ultimate parent of the Group with its headquarters in the US. … Read more

BEPS: The Caterpillar Case Study

The US Senate issues occasionally reports which demonstrate how some U.S. multinational corporations have employed complex transactions and licensing agreements with offshore affiliates to exploit tax loopholes, shift taxable income away from the United States to tax heaven jurisdictions, and indefinitely defer paying their U.S. taxes. A relevant report, issued in April 2014, focuses on … Read more

Singapore: Where Transfer Pricing has become a transparent area of focus

SINGAPORE LEGISLATION AND BEPS PROJECT Singapore has committed to the global implementation of the BEPS Project proposed by the OECD. Particularly, a lot of attention has been given to Actions 8-10, pertaining Transfer Pricing (TP). More precisely, the cornerstone for TP law in Singapore comprises the Income Tax Act. The Income Tax Rules of 2018 … Read more

Malaysia: An obvious will for Transfer Pricing deep scrutinization

BEPS AND MALAYSIA TRANSFER PRICING RULES The widely known Base Erosion and Profit Swifting (BEPS) OECD initiative has drastically affected the Transfer Pricing (TP) landscape, globally, as it constitutes a crucial denominator for corporate taxation. Malaysia, being an OECD member, shows an admirable adherence to the said rules. Therefore, Malaysian TP legislation merits a brief … Read more