Designation of Central Bank of Cyprus as national information authority
Law 169(I) of 2017 and Law 170 (1) of 2017, which took effect on 1 December 2017, amend the Business of Credit Institutions Laws of 1997 to 2017 and the Central Bank of Cyprus Law of 2002 to 2016 respectively to designate the Central Bank of Cyprus as the national information authority for the purposes […]
New double tax agreement between Cyprus and Saudi Arabia
Jan 19, 2018 Author:PHILIPPOS ARISTOTELOUS Law Firm: Elias Neocleous & Co LLC Publisher: International Law Office Practice area:TAX LAW, TAX PLANNING AND ADVANCED BUSINESS STRUCTURING
Tonnage tax – maintenance of prescribed levels of communityflagged vessels
Jan 16, 2018 Author: COSTAS STAMATIOU Law Firm: Elias Neocleous & Co LLC Publisher: International Law Office Practice area: ADMIRALTY AND SHIPPING
Cyprus Securities and Exchange Commission moves to electronic communications
The Cyprus Securities and Exchange Commission (‘CySEC’) has expanded the functionality of its web portal to enable Alternative Investment Fund Managers and UCITS Management Companies to submit digitally signed letters and documents to CySEC. According to CySEC this will have a double benefit of reducing costs and improving security. The portal does not replace the […]
Taxation of deemed benefits on loans and advances to directors and shareholders
Jan 12, 2018 Author:PHILIPPOS ARISTOTELOUS Law Firm: Elias Neocleous & Co LLC Publisher: International Law Office Practice area:TAX LAW, TAX PLANNING AND ADVANCED BUSINESS STRUCTURING
Increase in maximum number of firearms permitted under antipiracy law
Jan. 10, 2018 Author: Vasileios Psyrras Law Firm: Elias Neocleous & Co LLC Publisher: International Law Office
Entry into force of amendments to the lnternational Convention on Standards of Training, Certification and Watchkeeping for Seafarers
The Department of Merchant Shipping (DMS) has issued a notification to owners, bareboat charterers, managers and representatives of ships flying the Cyprus flag, and to foreign-flagged vessels visiting ports in Cyprus, regarding the latest amendments to the lnternational Convention on Standards of Training, Certification and Watchkeeping for Seafarers (STCW) of 1978, as amended, and the […]
Renewal of registrations in the Public Register of Certified Persons
The Cyprus Securities and Exchange Commission (CySEC) has announced the arrangements for the renewal of registrations in the Public Register of Certified Persons (the “public register”) for 2018. Paragraph 17(1) of Directive 174(I)/2015 regarding the Certification of Persons and the Certification Registers requires persons registered in the public register to renew their registration by the […]
Court finds that unjustified absence of members invalidates collective body and its decisions
[gdlr_row] [gdlr_column size=”1/4″] [/gdlr_column] [gdlr_column size=”3/4″] Jan. 8, 2018 Author: ELENA RIGA MICHAEL Law Firm: Elias Neocleous & Co LLC Publisher: International Law Office Practice area: LITIGATION, DISPUTE RESOLUTION AND ARBITRATION [/gdlr_column] [/gdlr_row]
Further extension of the period allowed for submitting applications to settle tax arrears by instalments
The Process of Adjustment of Tax Arrears Law 2017 (Law 4(I)/2017) establishes a procedure for settling tax arrears by monthly instalments. It provides a waiver of interest and penalties of up to 95% for all nationally imposed taxes, including: • income tax; • value added tax; • special defence contribution tax; • capital gains tax; […]
