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 […]

Concert and seminar in Kiev

In September the Embassy of Cyprus in Ukraine is organising a series of events around the fifty-eighth anniversary of Cyprus’s independence under the title of “Days of Cyprus in Ukraine”. One of the principal events is a concert of traditional and modern Cypriot music performed by the National Symphony Orchestra of Ukraine on 5 September […]

Disclosure of information on packaged retail and insurance-based investment products

The Cyprus Securities and Exchange Commission (‘CySEC’) has issued a notification to entities it regulates regarding Regulation (EU) No 1286/2014 on key information documents for packaged retail and insurance-based investment products (PRIIPs). The Regulation entered into force on 1 January 2018 and is directly applicable throughout the EU. The Regulation defines a PRIIP as a […]

Reduction of non-performing loans in the Cyprus banking sector

On 9 August the Central Bank of Cyprus (CBC) published its latest analysis of data on non-performing loans in the Cyprus banking sector, covering the period to 30 April 2018, showing aggregate non-performing facilities (NPFs) and related indicators for the domestic operations of credit institutions operating in Cyprus. Overseas operations are excluded.   During the […]

Amendments to the laws relating to Alternative Investment Funds

Cyprus’s new law on alternative investment funds, Law 124(I)/2018 has now entered into effect following its publication in the official gazette. The new law repeals and replaces Law 131(I)/2014. It introduces a new form of alternative investment fund, known as the registered AIF, or RAIF, with the aim of reducing the time and cost involved […]