NEWS

CYPRUS EXPANDS IS TREATY NETWORK – COURTESY OF EY

Cyprus’ double tax treaty network has been extended with four new treaties becoming effective as of 1 January 2017. These include treaties with India, Latvia, Bahrain and Georgia. The four new treaties are generally based...
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PROCEDURE FOR THE SETTLEMENT OF OVERDUE TAX LIABILITIES – COURTESY OF EY

The House of Representatives voted a new law (L. 4(I)/2017) regarding the procedure for the settlement of overdue tax liabilities. This law was published in the Official Gazette of the Republic (“Gazette”) on 03/02/2017 and...
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INTERVIEW – CHRIS KOUFARIS GENERAL SECRETARY CIBA – SUCCESSFUL BUSINESS MAGAZINE

Overregulation may damage business in Cyprus by Chris Koufaris To read the full article in Successful Business Magazine, follow the link here below:- https://issuu.com/brochvk.pdf/docs/sb24_issuu_/82
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TAXISNET ONLINE REGISTRATION BY MAY 2017

The Tax Department would like to inform you that online registration to the V.A.T. Taxisnet system is now available. Registration to the Taxisnet system is a prerequisite for the electronic submission of V.A.T. Returns and...
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LIMASSOL BURNISHING ITS BUSINESS CROWN – CYPRUS MAIL

An interesting article published in the CYPRUS MAIL http://cyprus-mail.com/2017/01/29/limassol-burnishing-business-crown/
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TAX FACTS AND FIGURES 2017 – COURTESY OF PWC

PWC Tax Facts and Figures 2017 publication – please follow link here below:- http://www.pwc.com.cy/tax-facts-figures
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AWARD TO SOFTIMPACT LTD.

At the CIBA 2016 AGM – SOFTimpact Ltd., a member company of CIBA, was presented with an award,  by the President of the Association Mr. Frixos Savvides, to thank them for their invaluable support in setting...
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CIBA 23RD ANNUAL GENERAL MEETING 2016

The CIBA 23rd Annual General Meeting took place with great success, on Friday 2nd December 2016 at the Amathus Hotel in Limassol with exclusive sponsor EY. In the closed session the General Secretary read his...
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28 NOVEMBER 2016 – REVISED TAX TREATY SIGNED WITH INDIA – COURTESY OF DELOITTE

Following the completion of the negotiations between Cyprus and India on 29 June 2016, the two countries signed a revised tax treaty on 18 November 2016, which was published in Cyprus’ Gazette on 25 November...
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NOTICE OF CIBA 2016 AGM

Official notice of our 23rd Annual General Meeting, is hereby given – which will take place on Friday 2nd December, 2016 at 18.00 hrs at the Amathus Beach Hotel in Limassol (closed session for Members only)...
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27 OCTOBER 2016-AMENDMENTS TO CYPRUS’S IP REGIME-COURTESY OF DELOITTE

On 14 October 2016, the House of Representatives enacted into law significant amendments to Cyprus’s “IP regime”. The amendments introduced in the Income Tax Law (ITL) were published in the Gazette on 27 October 2016...
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CIBA/NBAC EVENT – STATOIL PRESENTATION BY TIM DODSON

The Norwegian Business Association Cyprus in collaboration with the Cyprus International Businesses Association, organised an event at the Four Seasons Hotel, in Limassol with speaker Tim Dodson the Executive Vice President, of Statoil entitled “Statoil ...
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CIBA PRESENTS MR. SPYROS KOKKINOS COMPANY REGISTRAR

CIBA members and guests welcomed Mr. Spyros Kokkinos, the Registrar of Companies and Official Receiver, to inform them on the  recent and forthcoming developments at the Company Registrar Office and their impact on the international...
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REVISED SCHEME FOR CITIZENSHIP TO NON-CYPRIOT INVESTORS

The Council of Ministers approved on September 13 the revised scheme for granting Cypriot citizenship to non–Cypriot entrepreneurs/ investors. In statements to the press on September 14, Minister of Finance Harris Georgiades noted that the...
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ESA BRIEFING 2016 – SPACE FOR EUROPE

ESA Open Invitation To Tender – AO8770 Title:  FIRST CALL FOR OUTLINE PROPOSALS UNDER THE PLAN FOR EUROPEAN COOPERATING STATES (PECS) IN CYPRUS Open Date:  19/09/2016 Closing Date:  11/11/2016 13:00:00 Reference Nr.: 16.179.03 Prog. Ref.: PECS CYPRUS...
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JULY 2016 – NOTIONAL INTEREST DEDUCTION- COURTESY OF PWC

In July 2016 the Tax Department issued Circular 2016/10 aiming to provide further clarity on the definition of relevant terms and guidance on the practical application of NID. In summary, Circular 2016/10 provides the following:...
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MBA SCHOLARSHIPS FROM CIM & CIBA

Within the scope of their social contribution to the business community , CIM  in cooperation with the Cyprus International Businesses Association (CIBA),  have proceeded to award 1 full and 1 partial (50%) scholarship, totalling 9,900...
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27 JULY 2016 – IMMOVABLE PROPERTY TAX 2016 – COURTESY OF DELOITTE

On 14 July 2016, the House of Representatives approved changes to the Immovable Property (IMP) Tax Law. The amendments, which were published in the Official Government Gazette on 25 July 2016, reduce the immovable property...
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30 JUNE 2016 – CYPRUS AND INDIA NEGOTIATIONS FOR REVISED DTT – COURTESY OF PWC

On 30 June 2016 the Cyprus Government announced that negotiations for a revised DTT between Cyprus and India have been completed and agreement reached upon the text. The announcement sets out that the revised DTT includes provisions...
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COMPLETED SHOW OFFICE OF THE OVAL BUILDING

On Thursday 16th June 2016 CYBARCO Development Ltd., invited the CIBA members to participate in a tour of the newly completed show office of the Oval building. The show office was situated on the 5th Floor of...
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