Elias Neocleous & Co LLC – top-rated across the board by The Legal 500
The latest Legal 500 rankings for Europe, the Middle East & Africa, released on 12 April, recommend Elias Neocleous & Co LLC as a top-tier firm in all nine practice areas covered by the Legal 500’s research, a distinction which no other Cyprus law firm comes close to emulating. Indeed, in two practice areas, banking […]
Entry into force of the double taxation agreement between Cyprus and the States of Jersey
The double taxation agreement between Cyprus and Jersey, which was signed on 11 July 2016, entered into force on 17 February 2017 following completion of all the requisite ratification procedures. It will take effect with regard to taxes withheld at source in respect of amounts paid or credited on or after 1 January 2018 and […]
Final date for submission of VAT returns in paper form
The Cyprus Tax Department has announced that, in view of the planned implementation of submission of VAT returns in solely electronic form from 2 May, and given that 29 and 30 April and 1 May are public holidays, taxpayers wishing to submit VAT returns for the quarter ending 31 March 2017 in paper form must […]
Cyprus: Corporate tax and the new EU Anti-Tax Avoidance Directive
Over the past few years Cyprus has demonstrated its commitment to tackling harmful tax practices and to complying with best practice as laid down by the Organization for Economic Cooperation and Development and other international bodies. Cyprus has already incorporated the anti-avoidance provisions of the new EU Parent Subsidiary Directive into domestic law, giving the […]
Certificates of tax residence for individuals
On 10 March 2017 the Tax Department issued a long-awaited circular on the procedure to be followed by individuals requiring certificates of tax residence in Cyprus. Tax residence certificates may be required for the purposes of claiming exemption or relief from overseas taxes, especially in respect of income from sources outside Cyprus. The tax authorities […]
Cyprus: Alternative Investment Funds
We are delighted to inform you of the establishment of our specialist Funds Advisory team. Our Funds Advisory team is headed by Elias Neocleous and utilizes to our clients’ benefit the combined expertise of our professionals in the field of Alternative Investment Funds. The team is part of our Financial Services Support and Advice practice […]
Ratification of the Kiev Protocol on Strategic Environmental Assessment under the Espoo Convention on Environmental Impact Assessment
The Espoo Environmental Impact Assessment Convention sets out the obligations of parties to assess the environmental impact of certain activities at an early stage of planning, and to notify and consult each other on all major projects under consideration that are likely to have a significant adverse environmental impact across boundaries. The Convention was adopted […]
Ratification of the Paris Agreement on climate change
Cyprus formally ratified the Paris Agreement on climate change in December 2016, by means of the Ratification Law of the Paris Agreement, Law 30(III)/2016, which was published in the government gazette on 23 December 2016. The English text of the Paris Agreement is set out in Part 1 of the Annex to the Law, with […]
Extension of time allowed for submission of VIES summary table for March 2017
The Cyprus tax department has announced that the deadline for electronic submission of VIES summary tables for the month of March 2017 has been extended until Tuesday 18 April 2017 in view of the Easter holidays. Submission of the summary table after 18 April will be considered late, making the taxpayer liable to a […]
Cyprus Securities and Exchange Commission advisory notice regarding XECOIN or cryptocoin
The Cyprus Securities and Exchange Commission (“CySEC”) has posted a notice on its website regarding the XECOIN or cryptocoin, which it understands to be available in Cyprus. According to the notice, XECOIN or cryptocoin is not a financial instrument, and therefore does not fall within the scope of the Investment Services and Activities and Regulated […]
