Tonnage tax – maintenance of prescribed levels of EU-flagged vessels
Author: COSTAS STAMATIOU Law Firm: Elias Neocleous & Co LLC Publisher: International Law Office Practice area: ADMIRALTY AND SHIPPING
Entry into force of the double taxation agreement between Cyprus and Saudi Arabia
The Cyprus Ministry of Finance has made known that the double tax agreement with Saudi Arabia, which was signed on 3 January 2018, will enter into force on 1 March 2019. The provisions of the agreement will apply to amounts paid or credited on or after 1 January 2020 with regard to taxes withheld at […]
Entry into force of the 2016 Amendments to the Code of the Maritime Labour Convention of 2006
On 11 January 2019 the Cyprus Deputy Ministry of Shipping (DMS) issued a notification to registered owners, charterers, managers and representatives of ships flying the Cyprus flag, and other interested parties regarding the adoption, under the tacit acceptance procedure, of the 2016 Amendments to the Code of the Maritime Labour Convention of 2006. Following their […]
New tax exemptions and allowances for film and audiovisual production industry
Jan. 16, 2019 Author: CONSTANTINOS CHRISTOFI Law Firm: Elias Neocleous & Co LLC Publisher: International Law Office Practice area: TAX LAW, TAX PLANNING AND ADVANCED BUSINESS STRUCTURING [/gdlr_column] [/gdlr_row]
Substantial reduction of non-performing loans in the Cyprus banking sector
On 11 January 2019 the Central Bank of Cyprus (CBC) published on its website its latest monthly analysis of data on non-performing loans in the Cyprus banking sector, covering the period ended 30 September 2018, showing aggregate non-performing facilities (NPFs) and related indicators for the domestic operations of credit institutions operating in Cyprus. Overseas operations […]
Cyprus chapter of International Agency and Distribution Law
Author: Chrysanthos Christoforou Law Firm: Elias Neocleous & Co LLC Publisher: Juris Publishing, Inc Practice area: CORPORATE AND COMMERCIAL [/gdlr_column] [/gdlr_row]
Guidance on use of pre-printed VAT receipts
The VAT Law of 2000 and the VAT (General) Regulations of 2001 require VAT invoices to be issued for all taxable transactions. Recognising that the nature of their business makes it difficult for some traders, such as canteens and mobile traders selling items with a low unit price, to provide a legal proof of supply […]
Tax Department guidance on transfers of ownership rights to immovable property
Law 39(I) of 2018 amended the VAT Law to make VAT chargeable on the transfer of the effective right to dispose of real estate or immovable property as owner. With effect from 1 January 2019 a long-term assignment of the right of ownership of immovable property (long-term lease), or the transfer of such a right […]
Pledges of share certificates will no longer be accepted for registration by the Registrar of Companies
The Cyprus Registrar of Companies has announced that, following advice from the Attorney General, a number of categories of charges will no longer be accepted for registration, namely pledge of company share certificates, assignments of rights deriving from company shares or any other charge on company share certificates, company shares or rights deriving from shares […]
Amendments to Cyprus-San Marino double tax treaty enter into force
Author: ELENA CHRISTODOULOU Law Firm: Elias Neocleous & Co LLC Publisher: International Law Office Practice area: CORPORATE AND COMMERCIAL
