CYPRUS: Cyprus delays 15% tax on multinationals
Cyprus has yet to enforce the new EU rules introducing a minimum effective tax rate of 15% for multinational corporations operating within EU member-states. Alongside nine other countries, Cyprus was
The three European Supervisory Authorities (EBA, EIOPA and ESMA – ESAs) today published a joint Opinion on the assessment of the Sustainable Finance Disclosure Regulation (SFDR). The ESAs call for a coherent sustainable finance framework that caters for both the green transition and enhanced consumer protection, taking into account the lessons learned from the functioning of the SFDR.
The ESAs focus on ways to introduce simple and clear categories for financial products. The simplifications consist of two voluntary product categories, “sustainable” and “transition”, that financial market participants should use to ensure consumers understand the purpose of the products. The rules for the categories should have a clear objective and criteria to reduce greenwashing risks.
The ESAs recommend that the European Commission consider the introduction of a sustainability indicator that would grade financial products such as investment funds, life insurance and pension products.
In addition, the Opinion also covers the following areas:
Background
The ESAs deliver this Opinion on their own initiative. The Opinion is published in the context of a comprehensive review of the SFDR framework by the European Commission, which includes the SFDR regulation and Delegated Regulation. Going forward, the ESAs are ready to support the European Commission in future policy considerations on any review of the SFDR framework.
Cyprus has yet to enforce the new EU rules introducing a minimum effective tax rate of 15% for multinational corporations operating within EU member-states. Alongside nine other countries, Cyprus was
HMRC is warning taxpayers of an increase in phishing scams offering bogus tax refunds. As transfer pricing audits ramp up, individuals and businesses must remain vigilant and informed to protect their
In a recent development that has caught the attention of Wall Street and Main Street alike, the Senate has taken significant steps on a controversial tax bill. This legislation, if passed, could dramatically
The Maltese Government yesterday made it clear that it opposes the European Commission’s proposals for the introduction of a harmonised taxation system for companies. At the same time Malta is