Cyprus Securities and Exchange Commission Memorandum of Understanding with the Financial Services Regulatory Authority of Abu Dhabi Global Market
The Cyprus Securities and Exchange Commission has announced the signing of a Memorandum of Understanding with the Financial Services Regulatory Authority of Abu Dhabi Global Market, the international financial centre in Abu Dhabi. The signing of the MoU is intended to uphold the integrity of the markets, safeguard the interests of investors and foster robust […]
Cyprus Tax Department reminder regarding imminent deadlines
On 18 July the Tax Department published reminders on its website of approaching deadlines for submission of returns. Companies, self-employed and other individuals whose earnings are not taxed under the PAYE system are required to submit a provisional declaration of income for 2017, accompanied by a remittance for half the estimated tax liability, no later […]
CySEC circular regarding reporting under the Common Reporting Standard
The Cyprus Securities and Exchange Commission has issued a circular (C224 dated 14 July 2017) to Cyprus Investment Firms, administrative service providers, Undertakings for Collective Investment in Transferable Securities, UCITS management companies and Alternative Investment Funds and their managers that it regulates, reminding them of their obligations under ministerial order 161/2016, which implements the Common […]
Elias Neocleous interview with Gold magazine
Gold magazine, Cyprus’s leading monthly English-language magazine on business matters, recently featured a wide-ranging interview with Elias Neocleous, managing partner of our firm. In the interview Elias explained the background to the formation of the new firm, reported the progress achieved to date and set out his vision for the future of the new firm […]
Entry into effect of the new law for payment of tax arrears by instalments
The Process of Adjustment of Tax Arrears Law 2017 establishes a procedure for settling arrears of taxes which arose prior to that date by up to 60 monthly instalments. It covers all nationally-imposed taxes including income tax, value added tax, special contribution for defence (commonly known as SDC tax), capital gains tax, stamp duty and […]
Success in the Cyprus Bar Association examinations
Our firm’s success enables us to recruit the best people, to provide them with challenging, interesting work and to give them unmatched scope to develop their career. This is reflected in the results of the latest professional examinations for admission to the Cyprus Bar Association. All candidates from our firm succeeded in passing the examination […]
Reduction of non-performing loans in the Cyprus banking sector
The Central Bank of Cyprus (CBC) has released its latest analysis of data on non-performing loans in the Cyprus banking sector, covering the period to 31 March 2017 and showing the aggregate non-performing facilities and related indicators for the domestic operations of credit institutions operating in Cyprus. In the first quarter of 2017 non-performing facilities […]
Cyprus Investment Firms – commercial collaboration with third parties
The Cyprus Securities and Exchange Commission (‘CySEC’) has recently issued a circular (C217 dated 26 June 2017) to Cyprus Investment Firms (‘CIFs’) it regulates regarding commercial collaboration with third parties, for example to promote the CIF online, to use the third party’s website as a portal for displaying promotional and advertising content or to host […]
VAT REFUNDS
One of the current priorities for the Cyprus Tax Department is to modernise the administration of the tax system, moving away from a paper-based system to a more streamlined electronic system for submitting returns, and for making payments and refunds, both for direct taxes such as income tax and Special Contribution for Defence, and for […]
New procedures for issuing Minimum Safe Manning Documents for Cyprus ships
The Cyprus Department of Merchant Shipping has announced a change in procedures for issuing Minimum Safe Manning Documents. The new procedures apply from 1 July 2017 and all MSMDs issued before then will cease to be valid by the end of 2017. With effect from 1 July 2017 applications for MSMDs should be submitted electronically […]
