TAX INFO 5/2015

The new tax measures voted by the House of Representatives on10 December 2015 αre analysed here below.

A. Income Tax Law

1. Exchange differences

According to the amended Income Tax Law, any realized or unrealized foreign exchange difference, losses or gains will be tax neutral. In other words, FX gains will not be taxable and FX losses will not be tax deductible.

AEOI - Automatic Exchange of information


Automatic Exchange of Financial Account Information

The purpose of this newsletter is to inform you about the OECD / EU Directives regarding Automatic Exchange of Financial Account Information between countries.

The first exchange of information is expected to be made as from 2017 (in respect of year 2016) on an annual basis between participating countries in relation to all accounts that are considered reportable.