Cyprus Securities and Exchange Commission risk-based reporting for Administrative Service Providers
The Cyprus Securities and Exchange Commission (“CySEC”) has announced the detailed arrangements for regulated Administrative Service Providers (“ASPs”) to submit information regarding the year 2017 for the purposes of risk-based supervision. All ASPs which were authorised and undertaking activities at 31 December 2017 are required to complete form RBSF-ASP, which is available on the CySEC […]
Extension of limitation on enforcement of financial guarantees
A series of laws enacted in 2015 introduced limitations on creditors’ ability to enforce guarantees in prescribed circumstances, particularly as regards individuals with assets below a specified threshold. The Insolvency of Natural Persons (Personal Repayment Plans and Debt Exemption Decree) Law (No. 65(I)/2015) prohibits credit institutions from instituting proceedings to enforce guarantees against natural persons […]
Electronic submission of 2017 income tax returns
In April 2018 the Cyprus Tax Department announced that income tax returns for 2017 must be submitted online via its TAXISnet portal, and that paper returns will not be accepted. Disquiet has been expressed by some taxpayers that the returns for 2017 are not yet available, causing them concern that they will not have sufficient […]
Alignment of domestic law with EU Directive 2016/881 of 25 May 2016 amending Directive 2011/16/EU as regards mandatory automatic exchange of information in the field of taxation
Law 33(I) of 2018 amends the Law Regarding Administrative Cooperation in the Field of Taxation of 2012 to 2017 to bring it into line with the latest EU directive on mandatory automatic exchange of information in the field of taxation . The amendments to the law include a new definition of “automatic exchange” identical to […]
Certificates of proficiency in training for ships operating in polar waters
Author: COSTAS STAMATIOU Law Firm: Elias Neocleous & Co LLC Publisher: International Law Office Practice area: ADMIRALTY AND SHIPPING
Publication of the latest Central Bank of Cyprus ship management survey
Cyprus is one of the world’s most important locations for ship management, with around 60 ship management companies operating in its territory, several of which rank among the largest of their kind in the world. Cyprus-based ship management companies employ almost 40,000 seafarers including 5,000 EU nationals, and the total fleet managed from Cyprus is […]
