FinExpertiza Cyprus took part in the «BEPS Tax Planning Strategy – Evolution of the Tax Legislation in the EU and Russia 2017» Seminar, which took place in Moscow on 25th October 2016. Managing Partner of FinExpertiza Cyprus, Michael Hadjihannas and George Tsamurlides – Manager specialising in handling investment companies and investment funds, presented during their speech an overview of the EU directives and requirements with regard to the new tax planning strategy.
Michael Hadjihannas pointed out that the Organization for Economic Cooperation and Development (OECD) project Base Erosion and Profit Shifting (BEPS) is likely to trigger one of the most significant changes to the taxation of international business in the last decade. These changes will require business owners and stakeholders to reconsider where to invest and how to structure their global business operations.
The message from Michael Hadjihannas was clear – “While the OECD’s BEPS recommendations have been largely completed in 2015, the process of adopting them in countries’ tax rules has just begun. Their repercussions for your business will continue to evolve, and you should start preparing now, if you have not already.”
