The Moldovan parliament is divided over proposed amendments that would allow wealthy investors to bypass certain requirements in the citizen application process, Balkan Insight reported Friday. Some members of parliament warn that the changes, which are expected to pass next week, will undermine security and worsen Moldova’s reputation for corruption…. – Continue reading
The United Arab Emirates Cabinet on January 7, 2018, approved two double tax agreements concluded by the territory in 2017 with Moldova and Croatia. Double tax agreements seek to facilitate trade and investment between two or more countries by setting out the taxing rights of the territories involved, to ensure… – Continue reading
Russia has come close to blacklisting the UK as a tax haven as concerns grow over Scotland’s booming offshore business. The Kremlin’s Finance Ministry had announced that it would officially equate Britain with traditional “fiscal paradises” like Panama, the British Virgin Islands and the Caymans. Such a humiliating move would… – Continue reading
SCOTLAND is being advertised as a tax haven across Eastern Europe. The country’s allegedly lax company formation laws are being promoted by firms in Latvia, Russia, Ukraine and Belarus as authorities black list more traditional “fiscal paradises”. A new round of publicity for Scotland as an “offshore zone” began this… – Continue reading
RIGA – The Latvian Financial and Capital Markets Commission (FCMC) on Dec. 11 imposed a record 2-million-euro fine on Ukrainian-owned A/S Privatbank and ordered the dismissal of its CEO and managing board for violations of money laundering and other banking regulatory laws in connection with the alleged plundering and collapse… – Continue reading
Latvian President Raimonds Vejonis on December 15th accepted the credentials of the Japanese Ambassador to Latvia, Mariko Fujii, and noted an increase in Latvia-Japan trade recently but said there was still room for growth in economic cooperation, the Latvian president’s press service reported LETA. He said that a treaty for… – Continue reading
Chisinau, 10 December /MOLDPRES/-The parliament today ratified a Moldovan-American intergovernmental cooperation agreement to facilitate the implementation of the provisions of the Foreign Account Tax Compliance Act (FATCA). According to the chairman of the parliamentary commission for international relations and EU integration, Valentina Buliga, the ratified document sees that U.S. authorities… – Continue reading
Taxpayers in Romania and throughout the world can expect to pay more tax in the years ahead as governments expand their tax systems to repay debt and pay for increased social welfare, and international efforts to update tax legislation for the 21st century take hold. These are the conclusions of… – Continue reading
On 17 June 2015, the Income Tax Treaty between Malta and Moldova entered into force and will come into effect on 1 January 2016. The Treaty was signed on 10 April 2014. In accordance with the treaty, the following withholding taxes will apply: Dividends: where the dividends are paid by… – Continue reading
THE publication by Parliament of the Land Reform Bill represents an important moment in the land reform debate. It is over a decade since the last one and in that time many long-standing issues have been neglected. The Scottish Government’s Land Reform Review Group, however, put land back on the… – Continue reading
Fears are growing that Scotland may be becoming a magnet for money-launderers following allegations linking shell companies there to a $1bn (£634m) fraud in the ex-Soviet republic of Moldova. The swindle allegedly emptied three of Moldova’s leading banks of almost all their funds. Investigators say a key role was played… – Continue reading
Three of the biggest banks in Moldova reached the brink of collapse in November after suffering losses totaling $US1 billion – a shocking sum in an impoverished Eastern European country with a gross domestic product of less than $US8 billion. Now shock is turning to anger. In a report made… – Continue reading
To comply with unconstitutional pseudo-treaties negotiated by the Obama administration without the consent of Congress or any semblance of constitutional authority, the IRS announced that it will be sharing private financial information on U.S. bank account holders with foreign powers. No warrant is needed for foreign governments or tyrants to… – Continue reading
Some 19 British firms are at the center of an investigation into in a mammoth global money-laundering operation. The scheme was allegedly contrived to make $20bn (£12.5bn) worth of ill-gotten gains appear legitimate. The illicit funds are thought to have originated from criminal gangs and corrupt officials across the globe,… – Continue reading
Foreign Account Tax Compliance Act (FATCA) has been in force for a month and still more countries are joining the tax network. So far, 101 countries and financial jurisdictions have either signed or agreed to join FATCA. FATCA is aimed at identifying US taxpayers with offshore bank accounts and investments. Overseas… – Continue reading
Georgian Finance Minister Nodar Khaduri held the bilateral meetings in the Hague as part of the annual meeting of member-states of the Holland-Belgium group of the International Monetary Fund and World Bank. In particular, he met with Moldovan Minister of Finance Anatoly Arapu and manager of the Moldovan National Bank… – Continue reading
