The European Parliament voted for their position regarding the agreement with Switzerland for the abandonment of Bank Secrecy. Counting 593 votes in favor, 37 against and 58 abstentions, the European Parliament decided the exchange of information between the EU and Switzerland, regarding the bank accounts of their residents. The process will begin in 2018 and

Taxpayers who cannot justify increases in wealth will have to pay 33% tax on their additional gains, according to a special circular issued on Monday by Alternate General Secretary for Public Revenues, Ioannis Bakas. The circular instructs tax officers that they will have to ask for sufficient justification for any wealth increases that are flagged