Public consultation on the proposed revision of the OECD Transfer Pricing Guidelines for Multinational Enterprises and Tax Administrations was held on 12-14 November in the OECD headquarters in Paris.
News and Reviews
ABLV Bank results in Q3 2012
Q3 2012 was very successful for ABLV Group. The business volume and all major performance indicators continued to grow. The bank’s profit amounted to LVL 10.9 million (EUR 15.4 million).
Cyprus and Ukraine signed a double tax treaty
On 8 November 2012, the Convention for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income as well as Protocol to the Convention which forms an integral part of the Convention have been signed in Nicosia.
Global Financial Market: Topical Issues in October 2012
Macroeconomic reports published in October were mixed, with a predominance of negative data for the euro zone and the signals of stabilization in the US and China economy, but at lower levels of growth.
Performance of ABLV open-end investment funds in October
Net increase in value of investment certificates of funds managed by ABLV Asset Management:
Two more issues of ABLV Bank bonds completed
Subscription to ABLV Bank, AS bond issues in USD and EUR has been completed, the issue size being USD 50 million and EUR 15 million. The issues were performed under the bank’s Second Bond Offer Programme. The bonds were purchased by 57 customers of the bank.
Cyprus will be excluded from Russian ‘black list’
An order of the Russian Ministry of Finance with removing the Republic of Cyprus from the list of offshore zones (so-called “black list”) has been published.
ABLV Bank Luxembourg, S.A. obtains banking licence
ABLV Bank Luxembourg announces today that the Luxembourg Ministry of Finance has issued its licence for banking operations. ABLV Bank Luxembourg, S.A. is an independent company, the founder and sole shareholder of which is ABLV Bank, AS, a Latvian based bank. ABLV Bank, AS invested 20 millions euro in equity capital of Luxembourg subsidiary.
New opportunities of financing against pledge of investment portfolio
We have expanded the opportunities of financing against pledge of investment portfolio – now you can obtain financing not only against pledge of financial instruments and available funds, but also against pledge of precious metals’ account balance.
Another ABLV Bank bond issue in USD completed
Subscription to another bond issue in USD performed by ABLV Bank, AS under the Second Bond Offer Programme has been completed. The issue size is USD 25 million.