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 on qualifying vessels registered in countries which appear on the ‘grey list’ or ‘black list’ of the Paris Memorandum of Understanding (MOU). Article 17(2) […]

Strengthening of investor protection

The law governing the Cyprus Securities and Exchange Commission has been amended to improve the Commission’s corporate governance and strengthen its investor protection powers. Law 137(I)/2018 provides for the CySEC board to be enlarged from five members to seven and for the appointment of an audit committee. It also expands CySEC’s information-gathering and investigatory powers […]

Amendments to Cyprus-San Marino double tax treaty enter into force

The Cyprus Tax Department has announced that the procedures for ratification of the protocol dated 19 May 2017 amending the Convention on the Avoidance of Double Taxation between Cyprus and San Marino have been completed, and that the protocol entered into force on 27 June 2018. The protocol replaces the text of Article 25 of […]