The US Treasury Department has reissued its list of the countries that require cooperation with or participation in an international boycott as a condition of doing business. The countries listed are Iraq, Kuwait, Lebanon, Libya, Qatar, Saudi Arabia, Syria, the United Arab Emirates, and the Republic of Yemen. The list is dated 7 February 2013 […]
The US Court of Appeals for the Seventh Circuit has dismissed a class action suit filed by US taxpayers to seek damages from UBS AG (UBS) for penalties and other losses that they incurred for hiding their UBS accounts from the US Internal Revenue Service (IRS). The case involved US taxpayers who held bank accounts […]
On 1 February 2013, the Federal Council (Bundesrat) refused again to approve the Germany-Switzerland tax agreement signed on 21 September 2011, concerning the future tax treatment of capital investment income and past undeclared funds (see Germany-3, News 27 November 2012). Previously, on 17 January 2013, the Lower House of the German parliament (Bundestag) rejected the […]
On 5 December 2012, the Appeal Court heard case No. ?40-60755/12-20-388 between the Russian branch of Eastern Value Partners Ltd. (EVP Co.), a company resident in Cyprus, and the tax authorities. The tax authorities denied the applicability of the Cyprus - Russia Income and Capital Tax Treaty (1998) on the grounds that the conditions regarding […]
On 25 January 2013, the Ministerial Decree of 11 January 2013 was published in the Official Gazette No. 21. The Decree amends article 1 of the Ministerial Decree of 4 September 1996 to include Iceland in the list of countries which fulfil the exchange of information requirements (the "white list"). The inclusion of Iceland derives […]
