Cyprus Investment Firms’ operations outside the European Economic Area

The Cyprus Securities and Exchange Commission has issued a further reminder to Cyprus Investment Firms it supervises regarding the procedures to be followed by firms intending to provide investment services or undertake investment activities in countries outside the EEA. Investment firms intending to provide investment services or undertake investment activities in such countries must notify […]

Results of the Cyprus Securities and Exchange Commission’s annual compliance review for 2016

The Cyprus Securities and Exchange Commission (‘CySEC’) has announced the results of its latest annual assessment of regulated entities’ compliance with their anti-money laundering obligations under the Prevention and Suppression of Money Laundering and Terrorist Financing Law and CySEC Directive DI144-2007-08. For the purposes of the assessment regulated entities are required to submit compliance officers’ […]

Entry into force of new safety requirements for coastal passenger vessels

Article 47A of the Merchant Shipping (Issue and Recognition of Certificates and Marine Training) Laws of 2008 and 2017, which took effect on 1 January 2008, provides that members of the crew complement on board coastal passenger vessels who have safety duties related to passengers must meet the mandatory minimum requirements for familiarization and basic […]

Consultation on proposed new prudential framework for investment firms

The Cyprus Securities and Exchange Commission (“CySEC”) has issued a notification to entities it regulates and to participants in the market in general of the consultation process regarding a proposed amendment of the EU prudential rules for investment firms. Under a proposal adopted by the European Commission in December 2017 for a regulation and a […]

Extension of time for submission of VAT returns and remittances

The Cyprus Tax Department has announced that the deadline for submission of VAT returns and remittances for the three months ended 31 December 2017 and INTRASTAT statements for January 2018 has been extended to Monday 12 February 2018, since the original due date of 10 February is not a working day. Any statements or remittances […]

Renewal of civil liability certificates

  Feb 5, 2018 Author: VASSILIS PSYRRAS Law Firm: Elias Neocleous & Co LLC Publisher: International Law Office Practice area: LITIGATION, DISPUTE RESOLUTION AND ARBITRATION

Electronic submission of 2017 tax returns by individuals

Under the Cyprus self-assessment system employed persons must submit their annual tax return no later than seven months after the end of the income tax year, self-employed persons whose income for the year is less than €70,000 must submit their return no later than nine months after the end of the income tax year, and […]