NEWS

TAX TREATY SIGNED WITH SAUDI ARABIA – COURTESY OF DELOITTE

On 3 January 2018, Cyprus signed a tax treaty with Saudi Arabia. The tax treaty is based on the OECD Model Convention and its main provisions are briefly outlined below: Dividends: No withholding tax (WHT)...
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EY AND CYPRUS-RUSSIAN BUSINESS ASSOCIATION, LAUNCH FIRST RUSSIAN BUSINESS STUDY REPORT

The Cyprus-Russian Business Association authorized EY Cyprus to conduct the first survey, Russia Doing Business in Cyprus 2017 – Measuring Quality and Efficiency. The full survey report can be read here: ey-russian-report
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ECOFIN PUBLISHES EU LIST OF THIRD COUNTRY NON-COOPERATIVE JURISDICTIONS IN TAX MATTERS (‘BLACKLIST’) – COURTESY PWC

On 5 December 2017, the ECOFIN Council published its conclusions on the EU common list of (third country) non-cooperative jurisdictions in tax matters, also referred to as the ‘blacklist’. This initiative forms part of the...
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CYPRUS’ PUBLIC CONSULTATION ON THE EU’S ANTI-TAX AVOIDANCE DIRECTIVES – COURTESY OF PWC

The Cyprus tax authority (CTA) opened on 14 November 2017 a public consultation on Cyprus’ transposition into national law of the two EU Directives on anti-tax avoidance (ATAD1 & ATAD2). The CTA has published, in...
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EXTENSION OF COUNTRY-BY-COUNTRY REPORTING DEADLINES – COURTESY OF DELOITTE

On 11 December 2017, the Cyprus Tax Department (CTD) announced the extension of certain deadlines related to Country-by-Country (CbC) Reporting. Αs 2017 is the first year that CbC filings become due, the extensions will facilitate...
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CIBA 2017 AGM

The CIBA 24th Annual General Meeting took place with great success at the Amathus Hotel in Limassol,  with exclusive sponsor Oxley Holdings Limited. Present at the AGM was the Executive Chairman and CEO of the...
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CIIM IN COLLABORATION WITH THE SIMERINI NEWSPAPER IS PROUD TO ANNOUNCE 5 FULL SCHOLARSHIPS

CIIM in collaboration with the Simerini Newspaper is proud to announce 5 Full Scholarships for the following postgraduate programmes: • Master in Business Administration (MBA) • MSc in Human Resources Management and Organisational Behaviour • MSc in Financial Services • MSc...
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CIBA EVENT WITH SPEAKER THE MINISTER OF HEALTH, DR. GEORGE PAMBORIDES

The Minister of Health, Dr. George Pamborides, accepted an invitation from the Cyprus International Businesses Association (CIBA) to inform the members regarding the National Healthcare Scheme and the reform thereof. This event took place at the...
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GDPR WORKSHOP AT THE FOUR SEASONS HOTEL

In order to inform the CIBA members and guests, of the main provisions and obligations, arising from the General Data Protection Regulation coming into force in May 2018, as well as to assist and guide...
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CYPRUS-IRAN DOUBLE TAX TREATY TO COME INTO EFFECT ON 1 JANUARY 2018 – COURTESY OF EY

Cyprus and Iran signed an Income Tax Treaty, on 4 August 2015, for the avoidance of double taxation and fiscal evasion with respect to taxes on income (the Treaty). The Treaty entered into force on...
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OFFICIAL NOTICE OF CIBA 2017 AGM

Official notice of our 24th Annual General Meeting, is hereby given – which will take place on Friday 1st December, 2017 at 18.00 hrs at the Amathus Beach Hotel in Limassol (closed session for Members only) H.E....
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“SONGA OFFSHORE FROM THE ASHES TO THE FIRE – A CYPRIOT ENERGY SERVICE COMPANY SUCCESS STORY”

The Cyprus International Businesses Association (CIBA) in collaboration with the Norwegian Business Association Cyprus (NBAC) held an event entitled “Songa Offshore from the ashes to the fire – A Cypriot Energy Service Company Success Story”...
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CHRISTMAS CHAMPAGNE GALA DINNER & AWARD CEREMONY 1ST DECEMBER 2017 FOUR SEASONS HOTEL

CIBA is pleased to announce its support of the Christmas Champagne Gala Dinner & Award Ceremony of the Russian Businesswoman of the year 2017, which is organised by the Cyprus Russia Business Association. This event will be...
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SIGNIFICANT CHANGES IN THE LEGAL REGULATION OF FOREIGN INVESTMENTS IN RUSSIAN COMPANIES – COURTESY OF PWC

This is to inform you of changes in the legal regulation of foreign investments in Russian companies. The amendments impose additional restrictions on some foreign investors in relation to assets which are considered to be...
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OCTOBER 2017 – EXTENSION OF PROCEDURE FOR SETTLEMENT OF OVERDUE TAX LIABILITIES – COURTESY OF EY

CYPRUS: EXTENSION OF THE PROCEDURE FOR THE SETTLEMENT OF OVERDUE TAX LIABILITIES Further to the EY Tax Alert issued in June 2017, relating to the new law for the settlement of overdue taxes, please be informed that the...
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CIBA MEMBER – FML SHIP MANAGEMENT LTD – CELEBRATES 10 YEARS IN CYPRUS!

Fleet Management’s Cyprus 10th Anniversary has take place on Friday 22nd September 2017 in Hilton Park, Nicosia.  An excellent party that warmed hearts and stimulated minds as its senior management team, customers, partners, government and...
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VAT OBLIGATIONS: SUPREME COURT IMPOSING IMPRISONMENT FOR DIRECTORS’ VAT CRIMINAL LIABILITY – COURTESY OF EY

VAT Obligations – Company Directors’ Liability: Supreme Court imposing imprisonment for Directors’ VAT criminal liability The Supreme Court, has announced a 4 month custodial sentence for two Directors whose entity failed to settle both accrued...
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“CONNECTING SHIPS, PORTS AND PEOPLE” – COURTESY OF WISTA INTERNATIONAL

World Maritime Day is celebrated today, 28 September 2017! “Connecting Ships, Ports and People” has been selected by the IMO as the World Maritime Day theme for 2017. The theme was chosen to provide an...
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27 SEPTEMBER 2017: VAT PAYMENTS MADE BY ELECTRONIC TRANSFER THROUGH ONLINE BANKING – COURTESY OF DELOITTE

The Cyprus Tax Department has recently announced that taxpayers from now on will be able to pay their VAT liabilities through online banking. Specifically the Tax Department has agreed with four major commercial banks (namely...
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NETSUPPORT CHOSE IBSCY AS A PARTNER FOR CYPRUS

IBSCY Ltd is pleased to announce their new partnership with NetSupport (http://www.netsupportsoftware.com). As from today IBSCY Ltd., are authorized to resell, setup, configure and maintain all software of Netsupport. For one more time, IBSCY Ltd., demonstrate their dedication on evolving,...
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