News

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

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

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

Maria Kyriacou speaks at Institute of Certified Public Accountants of Cyprus insolvency seminar

Maria Kyriacou, head of our Nicosia office, was one of the principal speakers at a recent seminar organised by the Institute of Certified Public Accountants of Cyprus for its members on the subject “Private Debt and  Personal  Insolvency”. Maria explained the current legislation on bankruptcy and personal insolvency and the latest developments in rehabilitation schemes

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