News

Extension of submission of Personal Income Statement for the tax year 2021 until August 31, 2022

As per announcement here, the Department of Taxation informs that, in accordance with a decision of the Council of Ministers, a decree will be issued where the date of submission of the tax return of an Individual (Employed, Retired and Self-Employed without accounts), as well as the deadline for the payment of the tax due in accordance […]

Amendments to the Cyprus Income Tax Law affecting Persons arriving for first employment in Cyprus effective as of July 26th, 2022

On 26th July 2022, an amendment to the Cyprus Income Tax Law L.118(I)/2002 was published in the Official Gazette of the Republic of Cyprus. The amended legislation can be accessed here in CYLAW in Greek in section 8. However, we have tried to offer a simplified summary of what the new amendments entail. Existing Tax Exemptions The existing tax […]

Operation of the Interim solution of the Ultimate Beneficiary Owner Register after 31st July 2022 and Extension of the hours of receipt of applications

A number of key announcements on the UBO Register were issued which we have summarized below: Operation of the Interim solution of the Ultimate Beneficiary Owner Registry after 31st July 2022 The Department of Registrar of Companies has issued an announcement on the operation of the interim solution of the UBO register in Greek here […]

Updated EU Sanctions Package on the Ukrainian crisis approved and issued on Thursday, July 21st

On July 21st, the EU issued its awaited 7th package of sanctions adopting the proposal for  “maintenance and alignment” package which was announced on July 15th here. The full text can be accessed within the Official Journal of the European Union which can be found here

The Bill of the Ministry of Transport, Communications and Works for a Law on the Regulation of the Traffic of Bicycles and other Personal Mobility Devices (“e-scooters”) passes

As per Ministry of Transport, Communications and Works announcement here, the Bill for the regulation of the circulation of bicycles and other personal mobility devices by the House of Representatives which affects the use of Personal Mobility Devices (“e-scooters”) was passed. The proposal to amend the law was approved by the Council of Ministers on […]

Announcement by the Ministry of Health on the decisions of the Council of Ministers on COVID-19

In the last days, there has been an increase in all epidemiological indicators, as well as in the number of hospitalized individuals. The increase in infections is due to BA.4, BA.5 variants and their evolutionary sub-strains. The Ministry of Health reiterates its call for compliance with the personal protection measures (mask, distance, hand hygiene), in […]

Cedar Rose to Host Webinar on Best Practices for Assessing and Managing International Credit Risk

When conducting international business, it’s critical for companies to have a comprehensive understanding of the financial health and credit worthiness of their customers to measure risks and develop mitigation strategies to protect their business. Cedar Rose will host a special webinar on Tuesday 28 June at 11:00 GMT focusing on how businesses can assess, manage, […]

Filing of documents for the change of company data at the Registrar of Companies, for companies affected by EU and UN sanctions against Russia and Belarus

The Department of Registrar of Companies and Intellectual Property announces  here that, as stipulated by the Unit for the Implementation of Sanctions of the Ministry of Finance (MOF), where documents for the change of any data in a company file are filed with the Registrar, the following shall apply, provided the name of the company […]

COUNCIL DECISION (CFSP) 2022/884 of 3 June 2022 amending Decision 2014/512/CFSP concerning restrictive measures in view of Russia’s actions destabilising the situation in Ukraine

The 6th package of sanctions concerning restrictive measures in view of Russia’s actions destabilizing the situation in Ukraine has been announced and is now issued. The Amending decision is attached and can also be accessed here. Official Journal of the European Union L153

CIBA company staff and their wider family can access postgraduate CIIM courses at preferred prices

C.I.I.M. a CIBA member company is preparing for the new academic year and focusing on its Postgraduate courses. In preparation for the new academic year, C.I.I.M. has provided us with a generous offer on courses for CIBA member company staff and their broad family. The following courses are available at the preferred pricing below for registrations until […]