Consultation on draft publication on taxation of benefits in kind
The Cyprus Tax Department has issued a draft publication on benefits in kind for public consultation. The draft document, which is in the Greek language, is available here on the department’s website and the consultation period runs until 3 November 2017. All stakeholders are encouraged to comment on the draft publication.
Be prepared for the EU General Data Protection Regulation
The EU General Data Protection Regulation (“the GDPR”), which was approved on 14 April 2016, is the biggest change in EU data protection law for 20 years. It replaces Directive 95/46/EC on the protection of individuals with regard to the processing of personal data and on the free movement of such data, which currently regulates […]
Cyprus Securities and Exchange Commission advice regarding investment in virtual currencies and related products
As early as March 2014 the Cyprus Securities and Exchange Commission (“CySEC”) alerted potential investors to the risks associated with investment in virtual currencies or contracts for difference linked to them. CySEC has recently issued a circular (C244 dated 13 October 2017) to Cyprus Investment Firms (“CIFs”) regarding the conditions they must satisfy in the […]
Ratings success for Elias Neocleous & Co LLC
IFLR1000, the guide to the world’s leading financial and corporate law firms and lawyers, has today released its listing of leading lawyers. Elias Neocleous & Co LLC continues to lead the Cyprus legal services market, being the only firm awarded the prestigious Tier 1 ranking in Cyprus. IFLR is one of the most respected organisations […]
Tax Department guidance on the 60-day tax residence provisions for individuals
The Cyprus Tax Department has issued a circular setting out guidance on the new tax residence provisions for individuals introduced by Law No.119(I)/2017. With effect from 1 January 2017 individuals who meet all the following conditions in respect of a given tax year will be deemed to be tax-resident in Cyprus: They are physically present […]
The BEST LEGAL conference
The fourth BEST LEGAL conference was held at the Four Seasons Hotel in Limassol on 25 September. The event, which is organized by the Cyprus business magazine SUCCESSFUL BUSINESS, has become the leading legal conference in Cyprus directed at attendees from overseas, and this year’s event attracted more than 200 prominent businesspeople, lawyers and other […]
The Limassol Economic Forum
Elias Neocleous & Co LLC is a principal sponsor of The Limassol Economic Forum, which will take place on Friday, 20 October 2017. Now in its eighth year, the forum is the biggest and most important business gathering in Cyprus, and has become a major platform of debate on political, economic and business issues in […]
Proposal for new investment law
The Cyprus government has announced that a new draft law is being prepared, aimed at facilitating investment into Cyprus by means of radical changes in the current law and practice to reduce red tape, simplify procedures and create an environment that will be truly investor-friendly. The new law will focus on investments which are deemed […]
Extension of tax exemptions for loan restructuring
In December 2015 the Cyprus tax laws were amended to temporarily exempt loan restructurings from tax in order to facilitate and encourage the restructuring of non-performing loans. The amendments affected the Income Tax Law, the Capital Gains Tax Law, the Special Defence Contribution Law, the Stamp Duty Law, the VAT Law, the Collection of Taxes […]
The Actions for Damages for Infringements of Competition Law of 2017
Law 113(I)/2017, the Actions for Damages for Infringements of Competition Law of 2017, which was published in the government gazette on 21 July 2017, transposes Directive 2014/104/EU into Cyprus law. The new law provides for rules to ensure that any physical or legal person or public authority who has suffered damage as a result of […]
