TRAIN YOUR STAFF TO BE YOUR LAST LINE OF DEFENCE Technology often falls short in stopping a hacker from accessing your company via a phishing email or a phone call using social engineering. When this happens the last line of defence for your company is your employees! How aware of Cyber risks are they and could […]
Read MoreCIBA MEMBERS DISCOUNTED OFFER ON CYBERSECURITY TRAINING
We’re pleased to announce that Mrs. Doxia Nikia, Director of D.D. Fidelity Associates Ltd., has been appointed as the new President of CIBA, effective immediately. Mrs. Doxia Nikia who has been a member of the Executive Committee since 2007, joins a long line of successful past presidents of the Association, but is the FIRST WOMAN […]
Read MoreINTRODUCING THE NEW PRESIDENT OF CIBA – DOXIA NIKIA – THE FIRST WOMAN PRESIDENT OF CIBA
VAT on Immovable Property Update: Circulars on the Implementation Further to the amending VAT legislation (details in our November VAT Newsletter) on building land and immovable property leasing, Cyprus House of Parliament and Tax Department have released Regulations and Circulars respectively, clarifying the applicability of VAT imposition on non-developed land as well as on commercial […]
31st of January 2018 is the last payment date for: • The 2nd instalment of the 2017 Provisional tax (in case no revised Provisional Tax (form TD6) was submitted on 31st of December 2017) • Special Contribution for Defence with regard to deemed dividend distribution of the year 2015 Deemed distribution does not apply in respect of […]
On 3 January 2018, Cyprus signed a tax treaty with Saudi Arabia. The tax treaty is based on the OECD Model Convention and its main provisions are briefly outlined below: Dividends: No withholding tax (WHT) on dividends, if the beneficial owner (BO) is a company which holds directly or indirectly at least 25% of the […]
Read MoreTAX TREATY SIGNED WITH SAUDI ARABIA – COURTESY OF DELOITTE
The Cyprus-Russian Business Association authorized EY Cyprus to conduct the first survey, Russia Doing Business in Cyprus 2017 – Measuring Quality and Efficiency. The full survey report can be read here: ey-russian-report
Read MoreEY AND CYPRUS-RUSSIAN BUSINESS ASSOCIATION, LAUNCH FIRST RUSSIAN BUSINESS STUDY REPORT
On 5 December 2017, the ECOFIN Council published its conclusions on the EU common list of (third country) non-cooperative jurisdictions in tax matters, also referred to as the ‘blacklist’. This initiative forms part of the EU’s broader agenda on furthering tax transparency, fair taxation and the implementation of anti-BEPS measures with the dual aim of […]
The Cyprus tax authority (CTA) opened on 14 November 2017 a public consultation on Cyprus’ transposition into national law of the two EU Directives on anti-tax avoidance (ATAD1 & ATAD2). The CTA has published, in the Greek language, the wording of an initial draft bill (the Consultation Document) and seeks comments and suggestions in order […]
Read MoreCYPRUS’ PUBLIC CONSULTATION ON THE EU’S ANTI-TAX AVOIDANCE DIRECTIVES – COURTESY OF PWC
On 11 December 2017, the Cyprus Tax Department (CTD) announced the extension of certain deadlines related to Country-by-Country (CbC) Reporting. Αs 2017 is the first year that CbC filings become due, the extensions will facilitate the compliance of taxpayers with the new legislation. Submission of CbC Reports for 2016 Reporting Fiscal Year An extension has […]
Read MoreEXTENSION OF COUNTRY-BY-COUNTRY REPORTING DEADLINES – COURTESY OF DELOITTE
The CIBA 24th Annual General Meeting took place with great success at the Amathus Hotel in Limassol, with exclusive sponsor Oxley Holdings Limited. Present at the AGM was the Executive Chairman and CEO of the Oxley Group, Mr Ching Chiat Kwong, who was invited to give a brief welcome at the start of the AGM. […]