NEWS

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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Constantly Assessing and Developing the Role of CIBA – A strategic Overview Session by the Executive Committee (to be continued)

The Board of the Cyprus International Businesses Association took part in a one day workshop, facilitated by Human Asset – a member company of the Association – the outcome of which, will be presented to...
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Payment of final tax for the year 2018 for companies and self-employed individuals preparing audited financial statements – Courtesy of Deloitte

Please be reminded that the 1st of August 2019 is the deadline for the payment of the final tax for the year 2018 for companies and self-employed individuals preparing audited financial statements. In case the...
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Reduction of SDC rate applicable on interest income received by Cyprus tax resident domiciled individuals from corporate bonds – Courtesy of Deloitte

On 26 June 2019 an amendment to the Special Defence Contribution (SDC) Law was published in the Official Government Gazette. According to the amendment, effective from 26 June 2019, the SDC rate applicable on interest...
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Important Update from the Cypriot VAT Authorities – Courtesy of EY

Release of circular amending eligibility criteria for VAT recovery on bad debts Refresher of the Case As previously mention in an earlier newsletter, in the case of C-127/18, the Court of Justice of the European...
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CIBA MEMBERS UNITE TO RAISE MONEY FOR PANOS EVRIPIDOU FOUNDATION

Date and Time: 18th July 2019 – 7.30 pm Venue: La Isla, Limassol Cost per Ticket: EUR 25.00 (includes one drink with cheese platter to share and the chance to win a return ticket for...
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CJEU Case Update of importance for Cyprus VAT practice – Courtesy of EY

CJEU Case Update of importance for Cyprus VAT practice: Does a Board Member constitute a taxable person for VAT purposes? Director Fees VAT treatment determined on factual specifics with cost savings possible The Court of...
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CIBA SUPPORTED THE CYPRUS IT FORUM held at the Parklane Hotel in May 2019

CIBA was a proud supporter of the CYPRUS IT FORUM where 300+ IT businessmen, investors and government officials got together to discuss the micro- and macro developments in the IT industry. This year the speakers...
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