Fact: Russia’s Finance Ministry has submitted legislation to reintroduce progressive taxes on personal income, with the progressive scale starting with annual incomes exceeding 2.4 million rubles (,100).
Fact: Remote work has gained popularity in recent years, leading to the creation of Digital Nomad Visas in various countries.
EU citizens have the right of residence in Cyprus for the first three months without any additional requirements. If they decide to stay longer, they must show that they are employed, self-employed, or have sufficient resources and medical insurance. Family members of EU citizens are also entitled to freedom of movement in Cyprus, with specific registration procedures. After five years of legal residence, EU citizens can apply for Permanent Residence Certification, which provides additional benefits and rights.
Cyprus is considering easing residency permit requirements for foreign nationals under a proposed bill. The proposal would grant residency permits to third-country nationals who invest €250,000 in housing and have an annual income of €40,000. The bill also includes provisions for additional family members. The proposal is currently being debated in the House Internal Affairs Committee. Some stakeholders suggest lowering the housing investment threshold to €150,000 to facilitate purchases of existing homes, while others argue that this could drive up housing demand and prices, negatively impacting local buyers. The regulations aim to attract foreign investment while ensuring financial stability for those obtaining residency, covering various categories of foreigners.
Real estate tycoon Truong My Lan was sentenced to death in Vietnam for her involvement in a .46 billion financial fraud case. Lan, the chairwoman of Van Thinh Phat Holdings Group, was found guilty of embezzlement, bribery, and violating banking rules. The trial was part of a crackdown on corruption led by the ruling Communist Party, resulting in the prosecution of many officials and executives. Lan and her accomplices were accused of siphoning over billion from Saigon Joint Stock Commercial Bank through unlawful loans to shell companies. Lan plans to appeal the verdict.
The fact described in the text is that the IRS has received a major infusion of funding, including billion in 2022, to address the issue of large partnerships used by the ultrawealthy to hide income and avoid paying taxes.
The fact described in the text is that there is a lack of integrated care for individuals with autism over the age of 21.
The Cabinet of Cyprus approved a plan to cover the travel, accommodation, and food expenses of one family member accompanying a patient sent abroad for medical treatment. This coverage is for families with an annual household income of under €100,000 and for all minor patients regardless of income. The policy will start next Tuesday and is expected to cost €4.5 million annually. Last year, 1,523 patients from Cyprus were sent abroad for treatment to countries including Germany, Israel, France, the United Kingdom, Belgium, Sweden, and Greece, for various specialized treatments. The Health Ministry has developed collaborations with leading hospitals across Europe to facilitate these treatments.