NEWS

IMPORTANT: RANSOMWARE ATTACKS – COURTESY OF IBSCY LTD A MTN MEMBER COMPANY

What does ransomware do? There are different types of ransomware. However, all of them will prevent you from using your PC normally, and usually they encrypt all the files and data you have. They can...
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FRIXOS SAVVIDES RECOGNISED BY PEERS AT ICPAC 2017 AGM FOR OUTSTANDING CONTRIBUTION

We are proud to inform you that  on Wednesday 21st June 2017, at the Annual General Meeting of  the Institute of Certified Public Accountants of Cyprus (ICPAC), the President of ICPAC announced that the 2017...
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JUNE 2017 – CYPRUS AND LUXEMBOURG SIGN FIRST TIME DOUBLE TAX TREATY – COURTESY OF PWC

Cyprus and Luxembourg signed a first time Double Tax Treaty (DTT) on 8 May 2017, opening the way for new investment opportunities and trade relations between the two Countries. The text of the DTT was...
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68 JURISDICTIONS SIGN THE MULTILATERAL CONVENTION – COURTESY OF EY

68 jurisdictions sign the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent BEPS On 7 June 2017, 68 jurisdictions signed the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent BEPS (the...
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PAYMENT OF TEMPORARY TAX FOR TAX YEAR 2017 & FINAL TAX FOR TAX YEAR 2016 – COURTESY OF EY

FILING OF TEMPORARY TAX RETURN FOR 2017 AS PER THE ASSESSMENT AND COLLECTION OF TAXES LAW, EVERY COMPANY OR INDIVIDUAL (WHO DERIVES INCOME OTHER THAN FROM EMOLUMENTS) MUST FILE BEFORE 31 JULY 2017 AN ESTIMATE...
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COMING INTO FOCUS: TAX TRANSPARENCY’S NEW NORMAL – COURTESY OF EY

The EY report titled “Coming into focus: Tax transparency’s new normal” is designed to provide you with a series of insights and global updates on the topics of transparency and disclosure, covering national implementation of...
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JUNE 2017-CYPRUS ISSUES NEW DECREE ON COUNTRY-BY-COUNTRY REPORTING-COURTESY OF EY

On 26 May 2017, the Cypriot Ministry of Finance issued a new decree (the Decree) on Country-by-Country Reporting (CbCR) pursuant to the powers given under Section 6 (16) of the Assessment and Collection of Taxes...
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CIBA AND ICPAC EVENT WITH SPEAKER THE COMMISSIONER OF TAXATION

The Cyprus International Businesses Association with the support of ICPAC ( The Institute of Certified Public Accountants of Cyprus) invited the Commissioner of Taxation Mr. Yiannis Tsangaris to address the CIBA members, as well as...
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AWARD FOR SERVICE TO CIBA EXECUTIVE COMMITTEE

FS thanked Philippos Antoniades and Lefkios Papadopoulos for their services to the CIBA Executive Committee and awarded them each with a plaque to commemorate their service on the board. Both Philippos Antoniades and Lefkios Papadopoulos resigned from...
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PRESIDENT OF CIBA – MR. FRIXOS SAVVIDES’ INTERVIEW IN CYPRUS WEEKLY 26TH MAY 2017

The Cyprus Weekly spoke with CIBA President Frixos Savvides to find out more about the association whose stated mission is ‘taking care of the international business community in Cyprus’. Read the full article here:- CIBA...
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2017 CYPRUS COUNTRY REPORT

PLEASE CLICK HERE TO READ THE FULL REPORT :- http://www.cyprusprofile.com/en/cyprus-country-report
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CIBA AND CIIM PRESENT “CELEBRATING WOMEN IN BUSINESS: CHALLENGES AND OPPORTUNITIES”,

CIBA & CIIM ‘INSPIRING WOMEN IN PROFESSIONAL LIFE’ The Cyprus International Businesses Association (CIBA) and the Cyprus International Institute of Management (CIIM) organised an event “CELEBRATING WOMEN IN BUSINESS: CHALLENGES AND OPPORTUNITIES”, that took place...
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CIBA AND EY PRESENT “RECENT TAX DEVELOPMENTS: RUSSIA–CYPRUS AND GLOBAL TAX TRENDS” TAX CONFERENCE

News release Nicosia, 26 April 2017 EY Tax Conference tackles key tax challenges facing Cypriot and Russian companies in Cyprus ► Key topics included Cypriot legislative updates and tax developments, Cyprus in the new global tax...
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APRIL 2017 – VAT OBLIGATIONS – COMPANY DIRECTORS’ LIABILITY – COURTESY OF EY

VAT OBLIGATIONS – COMPANY DIRECTORS’ LIABILITY Summary: The Supreme Court of the Republic of Cyprus has recently released a judgment on the criminal liability of Directors for their companies’ failure to comply with the provisions...
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CIM SUMMIT 2017 – PRESS RELEASE

PRESS RELEASE –3- GOLD- CIM SUMMIT 2017
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CYPRUS-JERSEY DOUBLE TAX TREATY ENTERS INTO FORCE – COURTESY OF PWC

The first time double tax treaty (DTT) between Cyprus and Jersey signed in July 2016 entered into force on 17 February 2017 as per a recent update of the Cyprus Ministry of Finance. Per the...
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DOING BUSINESS REPORT 2017 – BY THE WORLD BANK GROUP

Doing Business 2017: Equal Opportunity for All, a World Bank Group flagship publication, is the 14th in a series of annual reports measuring the regulations that enhance business activity and those that constrain it. Doing...
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HACKING-THE SILENT THREAT TO YOUR BUSINESS! BY SOFTIMPACT

SOFTimpact LTD.,  presented the CYBER SECURITY event entitled: HACKING – The silent threat to your business! The event took place on Thursday 23rd February 2017 on the premises of Intership Navigation Co. Ltd. With a large turnout...
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2017 YIELD RATES ANNOUNCED BY THE CYPRUS TAX AUTHORITIES – COURTESY OF PWC

For the purposes of the NID the Cyprus Tax Authorities (CTA) have now announced the interest yields of the 10-year government bonds for Cyprus, Czech Republic, Germany, India, Latvia, Poland, Romania, Russia, Ukraine, United Arab...
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PROFIT SPREADS ON RELATED-PARTY FINANCING TRANSACTIONS – COURTESY OF PWC

The Cyprus Tax Authorities (CTA) recently informed the Institute of Certified Public Accountants of Cyprus (ICPAC) via a letter that with effect from 1 July 2017 they will cease their practice of specified minimum spreads...
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