Insights
Insightful Perspectives with Meaningful Impact
Preparation of audited Financial Statements by individuals
According to the Article 30(1) of the assessment and collection of taxes law, every individual with a total Gross Annual Turnover of over Euro 70.000 is required to keep proper books and records and to - Read More...
Stamp Duty On Patent Filings
The Registrar of Companies and Official Receiver, in its capacity as Trademark and Patent Registrar, has issued a circular in regard to the payment of stamp duty an patent filings. According to the circular, the - Read More...
Registrar of Companies in Cyprus strikes out defunct and non-compliant companies
The Department of the Registrar of Companies and Official Receiver in Cyprus announced that on 31/03/2017 it will proceed with the deletion of Cyprus companies that have not paid their annual levy for over - Read More...
New legislation on stolen imported cars
A new legislation which will govern the imported vehicles that are reported as stolen will soon be introduced in Cyprus. Apart from the strict penalties that will be imposed to those involved, the stolen - Read More...
EU updates its European Trademark System
The European trademark system Trade mark registration is one of the most effective ways to build and defend a brand. A trade mark is a sign which distinguishes the goods and services of one - Read More...
Recognition and enforcement of judgments in Cyprus – Brussels I Regulation (recast) now in force
Brussels I Regulation (recast) (Regulation (EU) 1215/2012) (the “recast Regulation”) has come into force on 10 January 2015. The Regulation applies to legal proceedings instituted on or after 10 January 2015 (Article 66(1)). Regulation (EC) - Read More...
Practice direction on black and white trade marks in Cyprus
For the purpose of adopting a common framework governing the protection of black and white trade marks in Cyprus, the Cyprus Department of Registrar of Companies and Official Receiver has issued a new practice - Read More...
Double Tax Treaty between Ukraine and Cyprus in force
The Convention (Tax Treaty) for the avoidance of double taxation and the prevention of fiscal evasion signed on 8th November 2012, by Cyprus and Ukraine enters into force as from 1st January 2014 following - Read More...
Better protection for trade secrets in the EU
The EU has proposed new rules to protect businesses when confidential information is stolen or misused. The rules aim to encourage innovation and collaboration. Trade secrets – confidential business information such as Google’s search algorithm - Read More...
Proposal for a standard VAT Return in the European Union
On 23 October 2013 the European Commission announced a proposal for a standard value added tax (VAT) return, aiming to reduce administration for businesses, ease tax compliance, and make tax administration across the EU - Read More...
Amendments on Cyprus taxation provisions
Pursuant to the obligations undertaken by the Cyprus Government to the European Union, the IMF and the European Central Bank, as set out in the Memorandum of Understanding that has been agreed in an - Read More...
Cyprus implements new EU directive on combating late payment in commercial transactions
In order to protect European businesses, in particular SMEs, against late payment and to improve their competitiveness, a new Directive 2011/7/EU on combating late payment in commercial transactions was adopted on 16 February 2011 - Read More...