International Tax, Audit, Accounting and Legal News – Issue 17 (December 2017)

1. Procedure for change of tax residency abroad for individuals;

On 6 December 2017, the Public Revenue Authority issued Circular (Pol 1201/2017) providing clarifications and specific guidelines on the procedure for the change of tax residence abroad for individuals. …

2. EU Releases First Blacklist Tax Havens

The EU recently has released its first ever blacklist of 17 non-cooperative tax jurisdictions, namely countries that they are not taking actions to address deficiencies into their tax laws like American Samoa, Bahrain, Barbados, Grenada, Guam, South Korea (Republic of), Macao SAR, Marshall Islands, Mongolia, Namibia, Palau, Panama, Saint Lucia, Samoa, Trinidad and Tobago, Tunisia and United Arab Emirates, as well as a grey list of 47 other jurisdictions namely countries committed that they will improve their transparency standards, including Hong Kong, Switzerland, Turkey, the Maldives, Bermuda, the Cayman Islands, Guernsey, the Isle of Man and Jersey. …