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Stay informed of the latest news and developments from our firm. Discover what is shaping our practice and people.
Deadline for submitting Tax Form TD1 now extended to 15 December 2020
Last week, the Tax Department announced that, by Decree of the Minister of Finance on 27 November 2020, certain submission deadlines are extended up to, and including, 15 December 2020. The extension applies to Individual Income Tax Statements for the year 2019, and, payments of any overdue Tax as shown in the 2019 Personal Income […]
Elias Neocleous & Co. LLC Advises Pepperstone On Its CySEC Authorization As CIF
During 2020, our firm advised our valued client, Pepperstone Group Limited, an Australian-authorised investment firm, in the establishment, authorization process of its Cyprus subsidiary, Pepperstone EU Limited. Working alongside Pepperstone executives, Michael Pelosi (Legal Counsel), Dimitris Papoutsis(Legal Counsel), Rafaella Michael (Associate) and Ioannis Sidiropoulos (Associate) comprised the Financial Services and Regulation team providing Cyprus regulatory […]
European Commission (the ‘EC’) steps up the fight against trade barriers and violations of sustainable trade commitments.
The EC has recently taken two significant actions which underscore the commitment of the European Union (the ‘EU’) to tackling the barriers facing European companies which seek to do business around the world: In July, the first ever Chief Trade Enforcement Officer (‘CTEO’) was appointed and, In November a new ‘Single Entry Point’ (‘SEP”) complaints […]
Protecting the estate of an incapable person
ON October 6, 2020 the Supreme Court of Cyprus upheld a decision of the District Court of Larnaca where the spouse of an incapable person was dismissed as administrator of the estate and other affairs of the latter. Following a petition by the sister of the incapable person, who became quadriplegic following an accident, the […]
Government approves new business and individual support measures for those severely impacted by the Covid 19 pandemic.
In an announcement made 5th November 10, 2020, Minister of Labour, Zeta Emilianidos confirmed that the Cabinet has approved a new bundle of emergency support schemes for both businesses and individuals which have had their income severely reduced as a consequence of the Covid 19 pandemic. Employers wishing to take advantage of the support measures […]
Successful audit sees Elias Neocleous & Co LLC retain ISO 9001:2015 certification.
We are pleased to announce that, following an audit by Bureau Veritas Athens, our firm has been recertified as being compliant with ISO 9001:2015, after completing successfully, the three years of the certification cycle. Possession of the ISO 9001:2015 certification is a visible demonstration of our commitment to quality and continuous improvement. Achieving and retaining […]
Agricultural Minister announces new measures to see farming sector through and beyond the Covid 19 crisis.
Agriculture Minister, Costas Kadis has had a busy week; on 6 November he announced a package of assistance measures for farmers impacted by the Covid 19 pandemic, he then followed this on 10 November by revealing a new plan for attracting younger people to and retaining them in the farming profession. Whilst in normal times […]
Cyprus referred to European Court of Justice for failure to transpose Trade Secrets Directive (EU)2016/943.
Following its meeting on 30 October 2020, the European Commission (‘EC’) has taken the decision to refer Cyprus to the European Court of Justice (the ‘ECJ’). This is due to the failure of the Cypriot government to notify the EC that it will take measures to transpose the Trade Secrets Directive (EU) 2016/943 (the ‘Directive’) […]
11th Limassol Economic Forum attracts record attendance from CEOs seeking guidance in troubled seas!
The Limassol Economic Forum (‘LEF’) has established itself as the premier business event in Cyprus regularly attracting leading political, economic, professional and business figures as both speakers and audience. Given recent social and economic turbulence it is no surprise that this year’s topic “What it takes to be a CEO in the 2020s?” also attracted […]
Parliament grants further payment extension for VAT amounts suspended as part of Covid 19 business cashflow relief measures.
On 30 October 2020 Parliament passed amending law 147(1)/2020 relating to the due date for payments of VAT which had, under measures introduced in March 2020, been deferred until 10 November 2020. The law relates to VAT payable which arose for VAT periods ending on 29 February 2020, 31 March 2020 and 30 April 2020. […]
Breast Cancer Awareness Month leaves Elias Neocleous & Co LLC ‘in the pink’!
Elias Neocleous & Co LLC is the both the largest and the top performing law firm in Cyprus with established professional networks across the globe. However, as Managing Partner Elias Neocleous, recently commented, being a truly great firm involves recognizing that we are part of a much wider community and, that we have a Corporate […]
2020 Legal 500 Tax Country Comparative Guide published.
This authoritative Legal 500 tax guide is now available to view online. The aim of the guide is to provide its readers with a pragmatic overview of the tax laws and regulations across a variety of jurisdictions. Each chapter of this guide provides information about withholding tax, transfer pricing, the OECD model, GAAR, tax disputes […]