AITC Newsletter September 2017

AITC Annual Conference 2017 held in Bucharest, Romania

This year, the annual Meeting was held on 1st and 2nd September 2017 at one of the most distinguished venues in Bucharest, Romania – the Intercontinental Hotel. Our ever-growing family of professionals throughout the year has welcomed 8 new members from Bangladesh, Cyprus, Ghana, Mauritius, Papua New Guinea, Pakistan, Serbia and Turkey. AITC is pleased to introduce our new members on board as they strengthen and widen the network of professionals in the association….




Contributed by: Stavros Pavlou, of Patrikios Pavlou & Associates LLC

Cyprus and Luxembourg sign their first double tax treaty

or the first time, on 08 May 2017, Cyprus and Luxembourg have signed a Double Tax Treaty (DTT), thus leading the way for new trade and investment opportunities…


Contributed by: Creatrust

Why Luxembourg?

Whether your estate consists of a real estate, a private jet, a superyacht, artworks, private equity investments or securities, you can never be too careful on how to structure it. This is why UHNWIs and SFOs are considering Luxembourg and seeking advice on how to…


 New double taxation agreement between Austria and Israel to come

In November 2016, a new double tax treaty (DBA) was negotiated between Austria and Israel. This DBA relates to taxes on income and property tax and will replace the old agreement dating back to 1970. The old DBA of 1970 has made cross-border investments difficult, dividends and interest rates were disproportionately taxed in the country of origin. The new DBA will comply with OECD standards…




Are ordinary salary payments always deductible?

The Danish tax authorities have corrected the deductibility of ordinary salary payments of a number of Danish Banks following the financial crisis in 2008. The tax authorities argued that ordinary salary payments were not deductible to the extent that the work of the employees had concerned…
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A Short Guide to Doing Business in Papua New Guinea

Doing business in PNG is challenging owing to the high cost of financing, shortage of skills, lack of infrastructure, etc. In ensuing paragraphs, we have focussed on important points, that a business need to consider, before investing into PNG…
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White paper on Malta’s Gaming Legal Framework

In July 2017, a white paper was issued on the Gaming Industry in Malta which white paper is proposing a single Gaming Act to replace the various laws currently regulating the gaming industry. These developments are being proposed to streamline the legal framework relating to the gaming industry to ensure the versatility of the legal framework regulating an area operating and developing at an ever faster and growing pace. More power will be given to the Malta Gaming Authority to issue directives and guidelines to regulate the industry…





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AITC is an association of independent professional firms composed of lawyers and accountants specialised in tax. Our members value excellence, professionalism and teamwork. Our goal is to continually achieve our clients’ best interest with utmost integrity.

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