New e-commerce VAT rules.
A newsletter has been issued by the Tax Department on the new VAT rules relating to cross-border e-commerce (business-to-consumer – B2C). The rules will enter into force from the 01st of July 2021. The new VAT e-commerce rules aim to put in place a simplified VAT system for businesses which provide services and/or sale of […]
EU seeks to build a Europe that is ‘fit for the digital age’.
The EU has, in recent years, strongly advocated the need to build a resilient Europe which is fit for the Digital Decade. This picture of Europe is one where people and businesses benefit from artificial intelligence-generated improvements (AI) in industry and in day-to-day life. However, also critical to this vision of the future, is an […]
EBA published final draft technical standards specifying the methods of prudential consolidation
The European Banking Authority (EBA) recently published its final draft Regulatory Technical Standards (RTS) specifying the conditions according to which consolidation shall be carried out in line with the Capital Requirements Regulation (CRR). In particular, this initiative has been undertaken according to Article 18(9) of Regulation (EU) No 575/2013 (CRR), which mandates the EBA to […]
Elias Neocleous & Co LLC contributes to prestigious German publication on Insolvency Law
Our firm has contributed to the 4th edition of the reputable German publication ‘’Münchener Kommentar zur Insolvenzordnung- Band 4’’ (Munich Commentary on Insolvency Law – Volume 4). The edition compiles 53 global country reports (including Cyprus) and high calibre insolvency law related commentaries. The EU is fully represented in the country reports, including implementation aspects […]
ESMA proposes rules for Taxonomy-alignment of non-financial undertakings and asset managers
On 1 March, the European Securities and Markets Authority (ESMA), published its Final Report on advice under Article 8 of the Taxonomy Regulation. Article 8 covers the information to be provided by non-financial undertakings and asset managers to comply with their disclosure obligations under the Non-Financial Reporting Directive (NFRD). The recommendations outline the Key Performance […]
Amendments to EU Slot Regulation casts struggling airlines a lifeline.
On 15 February 2021, the EU adopted an amendment to the ‘Slot Regulation’ (the Regulation) tempering the so-called ‘use it or lose it’ rule. Slots are essential for airlines at congested or coordinated airports (those where demand exceeds capacity). Without a slot, airlines cannot operate to or from those airports. The number of slots at […]
EU introduces stronger trade enforcement rules.
On 13 February 2021, the European Commission issued a press release announcing that robust new trade enforcement rules (the New Rules) have been put in place to protect the interests of the EU. The drive to amend the existing Enforcement Regulation ( the Regulation) was a response to the effective sabotage of the operations of […]
The European Green Deal: Challenges and Opportunities
On the 1st of February 2021, the Brussels office of Elias Neocleous & Co LLC presented a webinar, accredited by the Cyprus Bar Association, on ‘The European Green Deal’ . Opening the webinar, Mr. Ierotheos Papadopoulos, Head of the European Commission Representation Office in Cyprus, gave a speech, during which, he presented the European […]
Invitation to a seminar on the European Green Deal: challenges and opportunities
Our firm would like to invite you to a seminar prepared by our Brussels office on the topic of ‘The European Green Deal: Challenges and Opportunities.’ The seminar touches on a very important, and much-discussed topic, in Europe. Indeed, the Green Deal Agreement is one of the main pillars of the European Commission’s priorities for the […]
Fraudsters beware, European Public Prosecutor’s Office set to become operational in 2021!
On the 4th December 2020, the Council of the European Union (the ’Council’) adopted its position on first reading of amendments to Directive (EU) 2017/1371 (the ‘PIF Directive’). The amendments follow summer discussions with the European Parliament, and they are expected to be adopted in their current form by the Parliament before the end of […]
