NEWS

CIBA 26th Annual General Meeting

The Cyprus International Businesses Association, celebrated its 26th Annual General Meeting at the Parklane Hotel in Limassol, with exclusive sponsor AMDOCS. Present at the AGM was the Site Manager of Amdocs, Mr. Yiannis Tinis, who...
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CIBA Financial Statements of CIBA for the year ended 31 December 2018 – Prepared by PwC

In view of the upcoming CIBA 2019 ANNUAL GENERAL MEETING, we are pleased to attach hereto the Financial Statements of our Association, as at 31 December 2018, for your consideration. The FS 2018 have been...
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Annual Returns for the year 2019 (HE32) – Courtesy of Areti Charidemou & Associates LLC

All Cyprus companies have an obligation to file to the Registrar of Companies an Annual Return (HE32), which must be accompanied by the audited financial statements of the previous year. The Annual Returns (HE32) are...
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BOP “Ship Management Report” – 1 January 2019 – 30 June 2019

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 January 2019 – 30 June 2019. The said...
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The Protocol to the Cyprus / Ukraine double tax treaty has now been ratified – Courtesy of Bakertilly

The Protocol was agreed in 2015 and was ratified by the Cypriot Government on 11 December 2015. On 30 October 2019, the Ukrainian parliament approved the ratification of the protocol. Thus, the Protocol is now...
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New administrative penalties for late filings to the Registrar of Companies – Courtesy of Deloitte

Following recent amendments to the Cyprus Companies Law, Cap. 113 (“the Law”), the Registrar of Companies will impose administrative penalties on certain filings submitted after the prescribed timeframes as provided by the Law. The imposition...
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Cyprus-Egypt sign new double tax treaty – Courtesy of PwC

The Cyprus Ministry of Finance has announced that Cyprus and the Arab Republic of Egypt signed a new double tax treaty on 8th October 2019. For further information click on the link below:- PwC direct-tax-update-n-12-2019-cyprus-egypt-double-tax-treaty
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EU Blacklist Update – Courtesy of KPMG’s EU Tax Centre

The EU blacklist, first adopted on December 5, 2017, is part of the EU’s effort to clamp down on tax avoidance and harmful tax practices. Out of the ninety-two jurisdictions initially chosen for screening, seventeen...
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2018 Income Tax Return (Form T.D.4) for Companies – Courtesy of EY

The Cypriot Tax Department has published the 2018 income tax return for companies. The only difference between the 2018 and 2017 income tax return template is an addition made in Part 3 – “Computation of...
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CIBA Agreement with CIIM – 10 Partial Scholarships for CIBA Company Members for MBA and MSc in Financial Services

It is CIBA’s stated aim to provide tangible value to its member companies and even more so in the field of Education. To this end, CIBA announces its agreement with the Cyprus International Institute of...
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BREXIT – Meeting organised by British High Commission

The General Secretary of CIBA Mr. Andreas Pishias together with other key associations and members of the business community in Cyprus met with the British Government’s Secretary of State for Exiting the European Union The...
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Human Asset Salary Survey 2019

Salary SurveyLaunch of interactive platform Human Asset Ltd,  a member company of CIBA, operating in the HR Advisory Field, is conducting an innovative interactive Salary Survey. In this survey all companies can participate as they...
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Guidance on the United States sanctions compliance programmes published by OFAC

Earlier this year the United States Treasury Department’s Office of Foreign Assets Control (OFAC) has published a “Framework for OFAC Compliance Commitments” in order to provide organizations subject to U.S. jurisdiction, as well as foreign...
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Financial Innovation Forum 2019 – Parklane 10th – 11th October

CIBA announces upcoming collaboration with QUBE Events! QUBE Events is organising the Financial Innovation Forum 2019 which is an elite platform of international industry experts gathered for engaging discussions on the latest developments, trends, best...
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The Cyprus International Businesses Association (CIBA) and the Bank of Cyprus announce joint Compliance Event

Due to unforeseen circumstances on behalf of the Bank of Cyprus Compliance Department, this event has been postponed for October 2019. We apologize for the inconvenience that may be caused and will revert with new...
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International Tax Guides – Courtesy of EY

The following guides have been made available courtesy of EY.  2019 Worldwide Corporate Tax Guide, 2019 Worldwide VAT, GST and Sales Tax Guide, 2018-19 Worldwide TP Reference Guide all of which provide information regarding the...
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CIBA Charity summer social event at La Isla 18th July 2019

The members of the Cyprus International Businesses Association raised the amount of EUR 2.585,00 for the Panos Evripidou Foundation, at a summer social event, held on the 18th July 2019 at La Isla in Limassol....
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Key Update from Cyprus Tax Department: Circular 235 clarifies VAT treatment of vouchers – Courtesy of EY

What is the impact on your business – What are the next steps? Further to the amending VAT legislation (effective from 1 January 2019 & covered in our June VAT Newsletter) on the VAT treatment...
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CIBA delegation meets with the Governor of the Central Bank of Cyprus

A CIBA delegation met with the Governor of the Cyprus Central Bank on July 16th in Nicosia. The initiative was undertaken to inform the Central Bank with regards to the specific issues faced by the...
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