Tonnage tax: countries whose ships are subject to surcharge
[gdlr_row] [gdlr_column size=”1/4″] [/gdlr_column] [gdlr_column size=”3/4″] Nov 17, 2017 Author: COSTAS STAMATIOU Law Firm: Elias Neocleous & Co LLC Publisher: International Law Office Practice area: ADMIRALTY AND SHIPPING [/gdlr_column] [/gdlr_row]
Public consultation on proposed legislation to implement the EU Anti-tax Avoidance Directive
The Cyprus Tax Department has opened a public consultation on proposed legislation to implement EU Directive 2016/1164, the Anti-tax Avoidance Directive, as amended by Directive E2017/952, which extends the rules to hybrid mismatches involving third countries, permanent establishments, hybrid transfers, imported mismatches and dual resident mismatches. The consultation period will last from 14 November to […]
Mondaq award for Contributor Most Read in Cyprus
Mondaq, launched in 1994, is one of the most comprehensive Internet repositories of professionals’ knowledge and expertise. It disseminates legal, regulatory and financial commentary and information supplied directly by hundreds of the world’s leading professional advisors, covering more than 80 countries, and tracks detailed readership of this information through its website and distribution network. At […]
Further harmonisation of EU data protection laws: the proposed new e-Privacy Regulation
The European Union is set to replace Directive 2002/58/EC on Privacy and Electronic Communications, commonly known as the e-Privacy Directive or Cookie Directive, with a new e-Privacy Regulation. The change from a directive to a regulation parallels the shift from the Data Protection Directive to the General Data Protection Regulation. Unlike directives, which require EU […]
Reduction of non-performing loans in the Cyprus banking sector
The latest figures on non-performing loans in the Cyprus banking sector published by the Central Bank of Cyprus show that progress is continuing to be made in reducing non-performing facilities. The latest aggregate figures for the domestic operations of credit institutions operating in Cyprus show total non-performing facilities of €22,362 million at 31 July 2017, […]
Amendment to the VAT Law
The Cyprus parliament has passed an amendment to the VAT law imposing 19 per cent VAT on land transactions for business purposes, bringing it into line with the common EU system of VAT. When Cyprus joined the EU, it was granted a temporary derogation under article 383 of the EU VAT Directive (Council Directive 2006/112/EC […]
Settlement of overdue tax liabilities under Process of Adjustment of Tax Arrears Law
[gdlr_row] [gdlr_column size=”1/4″] [/gdlr_column] [gdlr_column size=”3/4″] Nov 09, 2017 Author: Philippos Aristotelous Publisher: International Law Office Practice area:TAX LAW, TAX PLANNING AND ADVANCED BUSINESS STRUCTURING [/gdlr_column] [/gdlr_row] [gdlr_post_slider category=”publications” num_fetch=”3″ num_excerpt=”25″ caption_position=”bottom” thumbnail_size=”medium” orderby=”date” order=”asc” ]
Obligations of Cyprus Investment Firms regarding warnings on complex financial instruments marketed to retail investors resident in Spain
The Cyprus Securities and Exchange Commission has issued a circular, number C248 dated 3 November 2017, to Cyprus Investment Firms it regulates, setting out the requirements of the Spanish regulatory authority, the Comisión Nacional del Mercado de Valores, regarding warnings on complex financial instruments marketed to retail investors resident in Spain. They apply to contracts […]
Tonnage tax: countries whose ships are subject to surcharge
In order to promote its objective of improving the quality of Cyprus shipping, the Merchant Shipping (Fees and Taxing Provisions) Law of 2010 imposes a surcharge on the tonnage tax payable regarding qualifying vessels registered in countries which appear on the ‘grey list’ or ‘black list’ of the Paris Memorandum of Understanding (MOU). Article 17(2) […]
Automatic matching of VAT payments
The Cyprus Tax Department has announced that, following the latest improvements of the TAXISnet system for electronic submission of VAT returns, there is no longer any need for taxpayers to input details of VAT payments or to submit a copy of the payment receipt to the Tax Department. Payments of VAT made through Internet banking […]
