NEWS

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....
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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...
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CIBA SUPPORTS PROPOSAL FOR THE ESTABLISHMENT OF A TRANSPORT ANALYTICS CENTRE OF EXCELLENCE (TRACE) IN CYPRUS

CIBA is pleased to announce that it is supporting the proposal for the establishment of a Transport Analytics Centre of Excellence (TrACE) in Cyprus, through the WIDESPREAD-2017, TEAMING Horizon 2020 programme. The transportation industry is...
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RESULTS OF SURVEY BY EU COMMISSION REGARDING THE CHANGE OF CLOCK TO SUMMER/WINTER TIME

To see the results of the survey conducted by the European Commission, regarding the change of clock between summer and winter time, please follow the link below:- https://www.dw.com/en/eu-to-stop-changing-the-clocks-juncker-pledges/a-45300586
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2018-2019 CYPRUS COUNTRY REPORT

We are pleased to inform you that the 2018-2019 Cyprus Country Report is now live. The Report includes in-depth interviews with the President of the Republic of Cyprus, Minister of Energy, Commerce, Industry and Tourism...
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SURVEY BY EU COMMISSION REGARDING THE CHANGE OF CLOCK TO SUMMER/WINTER TIME

Initiative by the European Commission regarding abolishing the daylight saving time. Take 2 minutes to express your views on the above mentioned subject via the link below:- https://ec.europa.eu/info/consultations/2018-summertime-arrangements_en Make your voice heard – complete and submit the...
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ELECTRONIC SUBMISSION OF THE 2017 PERSONAL INCOME TAX RETURNS (T.D.1) – COURTESY OF EY

Electronic submission of the 2017 Personal Income Tax Returns (T.D.1) for employees and self-employed Further to a recent announcement of the Tax Department of Cyprus, the Taxisnet System (https://taxisnet.mof.gov.cy) is now open and can also...
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CIBA REPRESENTED AT THE “CFO CONFERENCE: LEADERSHIP BEYOND FINANCE”

CIBA was a supporter of the 1st Conference for CFOs, organised by WTC Cyprus on behalf of ICPAC and its CFO Committee – Wednesday 23rd May at Amathus Hotel, Limassol with a participation of more than...
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CIBA-CIIM “CELEBRATING WOMEN IN BUSINESS”

The Cyprus International Business Association (CIBA) for the 2nd consequent year collaborated with the Cyprus International Institute of Management (CIIM) to host the  Celebrating Women in Business event, which took place at the Four Seasons...
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PRESS RELEASES

The following Press Release was published in Gold News on 25th April 2018 http://www.goldnews.com.cy/en/people/ciba-appoints-doxia-nikia-as-new-president Cyprus Mail 26th April 2017 http://cyprus-mail.com/2018/04/26/cyprus-international-business-association-appoints-first-female-head/
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CIBA MEMBER – AVANTI HYLAS 2 CYPRUS LTD., SUCCESSFUL LAUNCH OF HYLAS 4 SATELLITE

Avanti Hylas 2 Cyprus Ltd,  a member company of CIBA has informed that their HYLAS 4 satellite launch was a big success, please see video here  https://youtu.be/VDEQ4U89zzU
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CIIM 20% EARLY BIRD DISCOUNT FOR ANY OF ITS GRADUATE PROGRAMMES

CIIM is delighted to announce an early-bird discount of 20% for any one of its graduate programmes (offer valid only until 20 April 2018). The Cyprus International Institute of Management (CIIM) is a non-profit international business...
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ANNOUNCEMENT – CHRIS KOUFARIS STEPPING DOWN AS GENERAL SECRETARY OF CIBA

Chris Koufaris, the General Secretary of CIBA since 2012 , has announced his decision to step down with effect 31 March 2018. Chris Koufaris, joined the CIBA Executive Committee  in 1999 and served as CIBA...
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RESULTS FOR OPAP PRIMETEL 5KM CORPORATE RACE 17 MARCH 2018 – CIBA 57 OUT OF 205 COMPANIES

As per the official results received from the OPAP PrimeTel 5KM Corporate Race, held on 17 March 2018, we are pleased to announce that CIBA came in 57 out of 205 companies, that ran in the Corporate Race....
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CYPRUS –UK SIGN NEW DOUBLE TAX TREATY (DTT) – COURTESY OF PWC

Cyprus and the UK signed a new DTT and accompanying Protocol on 22 March 2018 opening the way for new investment opportunities and further development in trade relations between the two States. Details of the...
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EXTENSION OF ACCELERATED WRITING DOWN ALLOWANCES FOR TAX PURPOSES – COURTESY OF ELIAS NEOCLEOUS & CO LLC

The Cyprus Income Tax Law was amended in 2012 to introduce accelerated capital allowances for tax purposes on assets purchased during the years 2012 to 2014 inclusive. The annual writing down allowance for plant and...
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EU FINANCE MINISTERS AGREE ON MANDATORY DISCLOSURE FOR INTERMEDIARIES (DAC 6) – COURTESY OF PWC

On 13 March 2018 the ECOFIN Council (composed of the EU-28 Finance Ministers) reached political agreement on a Council Directive amending Directive on administrative cooperation in the field of taxation (commonly referred to as DAC)...
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FURTHER EXTENSION OF PERIOD FOR SUBMITTING APPLICATIONS TO SETTLE TAX ARREARS BY INSTALMENTS – COURTESY OF ELIAS NEOCLEOUS & CO LLC

Further extension of the period allowed for submitting applications to settle tax arrears by instalments The Process of Adjustment of Tax Arrears Law 2017 (Law 4(I)/2017) establishes a procedure for settling tax arrears by monthly...
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TAX DEPARTMENT 60-DAY TAX RESIDENCE PROVISIONS FOR INDIVIDUALS – COURTESY OF ELIAS NEOCLEOUS & CO LLC

The Cyprus Tax Department has issued a circular setting out guidance on the new tax residence provisions for individuals introduced by Law No.119(I)/2017. With effect from 1 January 2017 individuals who meet all the following...
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SUPREME COURT RULES ON VAT ON PROVISION OF ACCOMMODATION SERVICES – COURTESY OF DELOITTE

On 27 September 2017, the Cyprus Supreme Court issued its decision in a case involving the application of VAT to ‘commitment contracts’ in the hotel sector where tour operators do not use all the pre-booked...
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