by Demetris Nicolaides | Nov 30, 2023 | Tax, VAT, World News
The Tax Department has issued Circular 11/2023 on 28 November 2023, to provide additional clarifications to the amending law (Ν.42(I)/2023) which introduced important changes on the application of the reduced Value Added tax (VAT) rate of 5% on the purchase...
by Salomi Michael | Jun 21, 2023 | Business, World News
Global adoption of cryptocurrencies Digital currencies like bitcoin are gaining increasing popularity worldwide. According to Phillips (2020), bitcoin ranks as the sixth largest currency globally, with the US dollar holding the position as the largest traditional...
by Demetris Nicolaides | Jun 13, 2023 | World News
According to the Companies Law, all Cyprus registered companies irrespective of their year of registration are required to pay the Annual Levy of €350 to the Registrar of Companies by 30 June of each year. Deadline and payable amount The Annual Levy is is payable by...
by Demetris Nicolaides | May 9, 2023 | Business, World News
The European Parliament has recently approved new regulations on cryptocurrency tracing in the EU to combat money laundering and terrorist financing. These regulations require service providers to register and implement customer due diligence measures for tracing...
by Stelios Spiliotis | Jul 11, 2022 | World News
The Companies Amending Law 88(I) of 2022 (the “Amending Law”) which was published in the Official Gazette of the Republic of Cyprus on 24/06/2022, introduced certain changes to the Companies Law, in relation to the requirement of audit or review of financial...
by Demetris Nicolaides | Dec 28, 2021 | Business, Economy, Europe, Income Tax, Tax, World News
The European Commission has published on 22 December 2021 the legislative proposal for a Directive laying down rules to prevent the misuse of shell entities for tax purposes. The Unshell proposal (commonly referred to as ATAD III) is part of the Communication on...
