Further extension of DAC6 deadline

On the 3rd of June 2021, the Tax Department issued an announcement stating that there will be no imposition of administrative fines for the overdue submission of DAC6 information until the 30th of September 2021. This is a further extension to the one granted by the Ministry of Finance on the 26th of February 2021, […]

Cyprus and United Kingdom: The promising Lands? – Services and Opportunities

On 20 April 2021, partner Andrea Kallis participated in the above seminar which was hosted by the Great Britain and Cyprus Business Association.  The seminar addressed the issue of the ongoing relationship between the two countries now that the Brexit transition period has expired. The keynote speaker was Natasa Pilides, Minister of Energy, Commerce and Industry […]

Cyprus: Keeping Up with the Cyprus Private Client Sector

Elias Neocleous & Co LLC. is pleased to announce that it is organizing a webinar on matters of interest to the Private Client Sector in Cyprus. Elias Neocleous, Managing Partner, Elina Kollatou and Elena Christodoulou, associates at Elias Neocleous & Co LLC, together with Spyros Ioannou, Tax Partner (Head) of Primus Audit & Tax Limited, […]

New deadline for submission of 2019 Tax Returns.

On 12 March 2021, a decree from the Minister of Finance was published in the Official Gazette of the Republic.  The decree extends the deadline for the submission of the 2019 Tax Returns for companies (T.D.4) and for self-employed individuals who are obliged to prepare audited accounts (T.D.1 self-employed).  The new deadline for submission of […]

DAC6 –Directive of the Council of EU on mandatory disclosure and exchange of information on cross-border arrangements. Extension to the moratorium on the imposition of administrative fines for overdue submission of information

The Tax Department of Cyprus announced, on 26 February 2021, that there will be no imposition of administrative fines for overdue submission of DAC6 information in the following cases, provided that the relevant information is submitted by 30 June 2021: (a) Reportable cross-border arrangements that were made between 25 June 2018and 30 June 2020, information […]

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 […]