The UK Labour government's recent announcement on modifying the non-domiciled (non-dom) tax status has generated significant debate and concern. The changes aim to scrap the remittance basis of taxation and replace it with a more residence-based system, impacting the tax privileges of wealthy individuals residing in the UK without being domiciled there.

As remote working becomes more prevalent, understanding the various ways to manage taxes and residency is crucial. The choice of where to live and work remotely often comes down to personal lifestyle preferences and the tax benefits offered by different countries. Here, we explore several countries that are attractive for remote workers, focusing on their residency requirements and tax implications.

For the past two decades, we have witnessed an unrelenting rise in taxes across all sectors. Governments have consistently found reasons and excuses to justify these increases, burdening citizens with a growing financial load.

Instruct ProACT today to minimise your taxes in Cyprus & file your return on time.

Cyprus has long been favoured by expatriates for its favourable tax regime, particularly appealing to those with non-domicile status. This status can offer significant tax savings, but there are new updates and requirements that expats need to be aware of to remain compliant with Cypriot tax laws.

Over the past decade, Israel and Cyprus have forged increasingly close economic bonds, marking a significant trend in the Mediterranean's business landscape.

In 2021, Cyprus introduced a new property tax, ending years of debate and speculation about its implementation.. The new legislation stipulates that sellers of property in Cyprus are liable to pay a tax of 0.4% on the sale value at the time of transfer.

The trend of UK footballers moving to leagues like the Saudi League brings to light the broader challenges faced by expatriates. Understanding the tax implications and preparing for the adjustment process are crucial steps in making a successful transition to working abroad.

In 1948, George Orwell penned "1984," a novel that became synonymous with the dangers of intrusive government surveillance. Fast forward to 2024, and the dystopian surveillance state imagined by Orwell seems eerily prescient in the context of international financial data sharing among governments and tax authorities.

Since financial exchange of information regulation was introduced 10 years ago great strides have been made to tackle criminal activities.

Anti money laundering (AML) is always at the centre and the essence of this is income not declared nor tax paid.