Digital transformation has become a defining force in the software development industry. While software companies have always operated in the digital space, today’s transformation goes far beyond simply adopting new tools. It represents a fundamental shift in how software is designed, developed, delivered, and continuously improved. Organizations are rethinking processes, culture, architecture, and customer engagement…
Introduction We would like to remind you of the deemed dividend distribution (DDD) provisions of the Special Contribution for the Defence Law that relate to the tax year 2023. Profits subject to deemed dividend distribution Companies are deemed to have distributed to their resident shareholders 70% of their accounting profits, after taxes and certain adjustments,…
Tax Flash Cyprus Tax Department Extension of Deadline without Penalt
The Supreme Court of the United States (SCOTUS) announced on February 20, 2026, that President Trump does not have authority under the International Emergency Economic Powers Act (IEEPA) to impose broad tariffs. This announcement marks a significant legal and political moment in U.S. trade policy and creates a surge of opportunities for US importers financially…
Major Withholding Tax Reductions Effective from 2026 January 2026 Romania and the United Kingdom have entered into force a new Convention for the Elimination of Double Taxation, replacing the treaty in force since 1975. The new treaty, signed on 13 November 2024 and effective from 23 December 2025, aligns with OECD and BEPS standards…
“Think due diligence guarantees a risk-free deal? Or that it is simply about crunching numbers? Think again – there is much more at stake.” Due diligence reduces risks by providing insights but does not guarantee a risk-free deal. It goes beyond numbers by analyzing trends, assessing the sustainability of revenue, understanding working capital needs and…
The tax authorities have announced that the filing deadline for both the qualifying domestic minimum top-up tax and the top-up tax under the income inclusion rule (IIR) has been extended. Qualifying Domestic Minimum Top-Up Tax The filing deadline for reporting years that start on 31 December 2023 or later, and reporting years ending on 1…
Baker Tilly South East Europe has announced the completion of its merger with MHA, a firm listed on the London Stock Exchange’s AIM market. The agreement, valued at €24 million, was finalized on August 11, 2025, marking a new chapter of growth and international expansion for the company. A Strategic Move with Long-Term Vision The…