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As a part of its policies aiming to further encourage Foreign Direct Investment and to attract high net worth individuals to settle and do business in Cyprus the Council of Ministers established the "Cyprus Investment Programme".
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As per the Assessment and Collection of Taxes Law, every company or individual (who derives income other than from emoluments) must pay before 31 July 2019 an estimate of the taxable profit for (corporate) income tax purposes and the resulting tax liability for the year 2019. Even though according to the law, the due date...
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CIBA was honoured to participate at the roundtable discussions, held on the current Cyprus Banking Reform, organised by The School of Business and Management of UCLan Cyprus.
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Significant Amendments affecting a number of Cypriot businesses The Cyprus House of Representatives passed amendments to the VAT Law as well as issued Regulations which set out the changes in the VAT treatment of vouchers as well as telecommunication and electronically-supplied services to end users. As per the law and in line with the EU...
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On 15 May 2019, Cyprus signed a tax treaty with Kazakhstan which was published in the Gazette on 24 May 2019. This is an important development as Kazakhstan is the 9th largest country in the world, the largest of the former Soviet republics (excluding Russia) and a growing economy. The tax treaty is based on...
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Cyprus Tax Facts 2019 – PwC https://www.pwc.com.cy/en/publications-newsletters/tax-facts-figures.html  
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The Tax Department issued two interpretative circulars providing certain clarifications with regard to the Informative booklet on Benefits in Kind which was issued in October 2018. The first circular provides clarifications regarding the below provisions included in the Informative booklet on BIK: Paragraph 2.3 of Informative booklet on BIK – Keeping of Records The Tax...
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Important CJEU Update: Recovery of VAT on qualifying bad debt in cases where debtors are no longer VAT registered Action Required In case C-127/18, the Court of Justice of the European Union held that a taxable person can claim back VAT on unpaid customer balances which qualify for VAT as bad debts, even if the...
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To inaugurate the 1st Cyprus International Business Week, 2019 - CIBA held a social cocktail event on the 6th May 2019
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We wish to inform you that the Statistics Department of the Central Bank of Cyprus has published the new “Ship Management Report”, which covers the period 1 July 2018 – 31 December 2018. The said report can be downloaded from the official website of the Central Bank of Cyprus using the following link: https://www.centralbank.cy/en/publications/ship-management-survey Should...
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