Shanda Consult offers assistance in refunding of increased withholding tax, which has been withheld by Indian Tax Authorities related to the NJA status of Cyprus between 01/11/2013 and 31/03/2017. On 1st November 2013, the Indian Government notified Cyprus as a so-called “Notified Jurisdictional Area” (“NJA”), which is a term quite similar to “non-cooperative country”. The […]

Despite the global and regional economic challenges Lebanon has maintained its financial stability over the past quarter century. The financial sector, especially the banking sector has grown rapidly over the past years.   The Lebanese banking sector could maintain its profitability and growth despite the domestic shocks and surrounding turmoil. In 2016 the total assets […]

EBRD’s shareholders approved the membership of Lebanon to become a recipient of EBRD investments and advisory services. They expect to start the operations in the second quarter of 2017. EBRD has been investing in 4 countries of the southern and eastern Mediterranean region since 2012. Lebanon is the 5th member country of the EBRD. The […]

The Parliament of Cyprus has approved by common consent the proposal of amending the rules for determining tax residency of individuals in Cyprus. Under the currently existing (to be revised) law individuals were considered as tax resident in Cyprus if they were physically present for at least 183 days per year. According to the new […]

A Memorandum of Understanding was signed on Monday 17 July in Tehran by Gholamreza Manouchehri, Deputy Managing Director of NIOC, Hamid Akbari, CEO of Petropars and Hiroshi Sato, Toyo’s Director of Energy Business Unit, aiming to renew the Salman oil and gas field’s facilities and to boost production. The Salman field is located in the Persian […]

The farming company EkoProd AT in Volnovakha, District of Donetsk, invested in a biogas plant with a planned installed capacity of 3 MW. The biogas plant will produce heat and electricity, which will be enough for 3.500 households in Volnovakha. The biogas plant of EkoProd AT in Volnovakha is located between Donetsk Mariupol, in the area controlled […]