News

ANNOUNCEMENT – Welcome new General Secretary of CIBA – Mr. Andreas Pishias

The Cyprus International Business Association (CIBA) would like to announce the recruitment of Mr.  Andreas Pishias as its General Secretary, as of 18th February 2019. Mr. Pishias, has extensive multi-country experience having worked with international research agencies as well as major multinationals both in Europe and the Middle East throughout his professional 20-year career.  He […]

CIBA New Members 2018

NEW MEMBERS 2018 ACTIVITY WEBSITE WISE WOLVES CAPITAL (EU) LTD. Fiduciary / Brokerage / Payments www.wise-wolves.com RARETRAIL HOLDING LIMITED Financial Services www.raretrail.com FINECISION ART LTD. Collectors and restorations of art  N/A EXNESS (CY) LTD. Investment Firm www.exness.com SYMEOU & KONNARIS LLC Law Firm www.sklaw.com FIBO GROUP HOLDINGS LTD. Investment Firm www.fibogroup.eu OIKOS GROUP Property Developers […]

VAT treatment for leasing of immovable property – Courtesy of Areti Charidemou & Associates LLC

On 27/12/2018, the Cyprus Tax Authorities published a circular which come into force on 1 January 2019 and relates to VAT treatment on the ‘’effective transfer of the right to use’’ an immovable property. The long-term leasing of immovable property, for which the right to dispose the immovable property as owner or dispose the immovable […]

Shadow Carbon Pricing Methodology – Technical note by EBRD

The  European Bank for Reconstruction and Development has recently published a technical note describing the economic assessment methodology of EBRD projects with high greenhouse gas emissions, which can be accessed on the EBRD website at https://www.ebrd.com/news/publications/institutional-documents/methodology-for-the-economic-assessment-of-ebrd-projects-with-high-greenhouse-gasemissions.html. Click here to read the technical note:  EBRD-Carbon-Pricing-Methodology The technical note is a staff working document subject to revision […]

VAT treatment for leasing of immovable property – Courtesy of Areti Charidemou & Associates LLC

On 27/12/2018, the Cyprus Tax Authorities published a circular which come into force on 1 January 2019 and relates to VAT treatment on the ‘’effective transfer of the right to use’’ an immovable property. The long-term leasing of immovable property, for which the right to dispose the immovable property as owner or dispose the immovable […]

CIBA 2018 ANNUAL GENERAL MEETING

The Cyprus International Businesses Association, celebrated its 25th Annual General Meeting at the Amathus Hotel in Limassol, with exclusive sponsor ASTROBANK.  Present at the AGM was the Chairman of ASTROBANK, Mr. Shadi A. Karam, who gave a brief welcome. The President of the Association, Mrs. Doxia Nikia Hadjivassiliou, gave her address to distinguished guests and […]

CYPRUS – RUSSIA: THE END OF STORY OR A NEW ROMANCE? A CASE STUDY FOR BUSINESS TO PREVENT TAX DISPUTES

CIBA supported with great success the Conference “Cyprus – Russia: the end of story or a new romance? A case study for business to prevent tax disputes” which was organised by Eurofast and Pepeliaev Group. The event was opened by the First Secretary of the Embassy of the Russian Federation in the Republic of Cyprus […]

COUNTRY-BY-COUNTRY REPORTING OBLIGATIONS RELATED TO CBCR EXCHANGE RELATIONSHIPS – COURTESY OF EY

CYPRUS ISSUES ANNOUNCEMENT ON COUNTRY-BY- COUNTRY REPORTING OBLIGATIONS RELATED TO CBCR EXCHANGE RELATIONSHIPS On 19 September 2018, the Cypriot Tax Department issued an announcement regarding Country-by-Country Reporting (CbCR) obligations related to CbCR exchange relationships as follows: Constituent entities with a Cypriot Ultimate Parent Entity (UPE) will not be subject to local filing in their jurisdiction […]