Foreclosure process amended

  Author:SOTOS CHRISTOPHER KASINOS Law Firm: Elias Neocleous & Co LLC Publisher: International Law Office Practice area:LITIGATION AND DISPUTE RESOLUTION

Taxation of earnings of insurance agents

The Cyprus Tax Department has issued a new circular (EE26, dated 7 September 2018)  clarifying the taxation of earnings of insurance agents. A representative of an insurance company who is not in an employment relationship with the company is treated as a commercial enterprise whose revenue is derived from fees or commissions for the conclusion […]

Tax treatment of non-returnable capital contributions

The Cyprus Tax Department’s Interpretative Circular EE 25 dated 3 September 2018 clarifies the tax treatment of non-returnable capital contributions by Cyprus taxpayers to companies which are tax-resident abroad. Article 33 of the Income Tax Law N.118 (I)/2002 allows the tax authorities to adjust transactions between related entities onto an arm’s length basis and assess […]

Communication with the Cyprus Tax Department

On 7 September the Tax Department announced further steps in its programme to improve efficiency and speed communication with taxpayers. Form ΤΦ 1006 , the reminder to submit a VAT return, which was previously sent by mail to taxpayers who had not submitted a VAT return by the due date, will now be sent only […]

Supporting “Days of Cyprus in Ukraine”

Elias Neocleous & Co LLC has been proud to support a series of events organised by the Embassy of Cyprus in Ukraine to mark the fifty-eighth anniversary of Cyprus’s independence under the title of “Days of Cyprus in Ukraine”. As part of the programme, in conjunction with the Ukrainian Chamber of Commerce and Industry, Elias […]