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News & Events
Stay informed of the latest news and developments from our firm. Discover what is shaping our practice and people.
Introducing our new trainee lawyers
Our people are our most important asset, and key to providing the best service and advice to clients. We believe in developing our people from within the firm: we recruit the best graduates from leading universities, provide them with the best training and support and offer them unlimited career prospects. Our 2016 cohort of graduate […]
Product governance requirements under MiFID II and the Investment Services and Activities and Regulated Markets Law of 2017
The Cyprus Securities and Exchange Commission (“CySEC”) has issued a circular (number 236 dated 15 September 2017) to Cyprus Investment Firms (“CIFs”), UCITS Management Companies (“UCITS MCs”) and Alternative Investment Fund Managers (“AIFMs”) that it regulates advising them of their obligations regarding product governance requirements under MiFID II and the Investment Services and Activities and […]
Changes to the Assessment and Collection of Taxes Law
Law 97 (I) of 2017 amends the Assessment and Collection of Taxes Law of 1978 to 2016 (“the ACT Law”) with effect from 14 July 2017. The principal changes introduced by the amending law are as follows: Tax returns for 2017 and subsequent years must be submitted by electronic means or by other means approved […]
Entry into force of the Auditors’ Law – implications for issuers of securities traded on a regulated market
The Cyprus Securities and Exchange Commission has issued a circular (number 234 dated 11 September 2017) informing companies which have issued transferable securities admitted to trading on a regulated market (public issuers) of their obligations under the Auditors’ Law of 2017 (Law 53 (I)/2017), which entered into force on 2 June 2017. Public issuers fall […]
Impending deadline for submission of 2016 tax returns
The Cyprus Tax Department has issued a reminder that self-employed individuals with an annual turnover of less than EUR 70,000 are required to submit their tax return for 2016 via the TAXISnet electronic system no later than 30 September 2017. Self-employed individuals whose annual turnover exceeds EUR 70,000 are required to submit their tax return for 2016 […]
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 […]
Extension of time for submission of VAT returns and remittances
The Cyprus Tax Department has announced that the deadline for submission of VAT returns and remittances for the three months ended 31 July 2017 and INTRASTAT statements for August 2017 has been extended to Monday 11 September 2017, since the original due date of 10 September was not a working day. Any statements or remittances […]
Changes to the VAT appeal procedure
Hitherto, taxpayers who disputed VAT assessments raised following examinations of their records have had three options: to submit a written objection to the Commissioner of Taxes within 60 days of receiving the assessment, under article 51A of the VAT Law; to submit a written objection to the Minister of Finance within the same time limit, […]
Settlement of tax arrears under the Process of Adjustment of Tax Arrears Law of 2017
The Cyprus Tax Department has issued a further reminder to submit applications for settlement of arrears of tax by instalments under the Process of Adjustment of Tax Arrears Law of 2017 (Law 4(I)/2017). The law took effect on 21 July and taxpayers must submit their application for arrears to be dealt with under the law […]
New appointments in our Nicosia office
In line with our continuous development and investment in our human resources we are pleased to announce the strengthening of our Nicosia office with the appointment of a new partner and a new senior associate. Nicolas Tsardellis – Advocate / Partner Nicolas has been appointed to head the Nicosia litigation and dispute resolution department. He […]
CySEC announcement of changes to passporting arrangements and conditions governing the provision of investment services and activities by third country firms resulting from MiFID II
The Cyprus Securities and Exchange Commission (“CySEC”) has issued a summary of the changes to passporting arrangements and conditions governing the provision of investment services and activities by third country firms that will result from the implementation of Directive 2014/65/EU of the European Parliament and of the Council of 15 May 2014 on markets in […]
Amendment of the Advocates Law
The Advocates Law has recently been amended to provide for registration of members of the Cyprus Bar Association who practice in other member states of the EU. The Advocates (Amendment) Law of 2017, Law 92(Ι)/2017, amends the Advocates Law to enable registered advocates who wish to practice law in another member state with the professional […]