Cyprus, a “bonus stage” in the gaming business world?
Cyprus has long been an established hub for international business and recent years have seen an increasing number of tech companies and start-ups choosing Cyprus for their regional headquarters from where to service clients in, amongst others, Europe, Middle East and North Africa. In addition to being established as a safe and reliable jurisdiction, Cyprus …
Continue reading “Cyprus, a “bonus stage” in the gaming business world?”
The Disclosure of Companies’ Beneficiaries – The implementation of the 5th AML Directive
The 5th AML Directive As per the 5th AML EU Directive, (the “Directive”) member states should import the Directive into national legislation.
Analysis of the Protocol amending the Agreement for the Avoidance of Double Taxation between Cyprus
INTRODUCTION On the 8th of September 2020, officials representing the Republic of Cyprus and the Russian Federation concluded to a Protocol amending the Double Tax Treaty (“DTT”) between the two countries.
EQUITABLE ESTOPPEL and LACK OF JURISDICTION for the refusal of injunctive relief
INTRODUCTION Cyprus has emerged as a centre for resolution of international disputes in recent years given the plethora of multinational companies and high-profile individuals taking advantage of the island’s double tax treaties, tax rules and regulations, in combination with the fact that Cyprus is a member of the EU and all judgments of the Cyprus …
Continue reading “EQUITABLE ESTOPPEL and LACK OF JURISDICTION for the refusal of injunctive relief”
The Cyprus International Trust – a practitioner’s approach
A. GENERAL I. THE LAWS APPLICABLE TO TRUSTS – GENERAL PROVISIONS The Laws The legal framework governing trusts in Cyprus is based on The Trustees Law, Cap. 193, (“The Trustees Law”), which is largely based on the English Trustee Act of 1925 and on The International Trusts Law, No. 69(I)/92, (“The International Trusts Law”), enacted …
Continue reading “The Cyprus International Trust – a practitioner’s approach”
Amended notional interest deduction provisions
On 16 June 2020, amendment provisions on the Income Tax Law (N.66(I)/2020) were published in the Cyprus Government Gazette relevant with the application of the Notional Interest Deduction (NID).
5% reduced vat rate applicable on tourism services
VAT Decree κ.δ.π 268/2020 was issued by the cabinet on the 23rd of June 2020 to temporarily reduce the vat rate on tourism services.
The end for visa requirements
FAMILY MEMBERS OF EU CITIZENS WHO ARE NOT EU NATIONALS BUT HOLD PERMANENT RESIDENCE CARDS On the 18/06/2020 the Court of Justice of the European Union (΄CJEU΄) issued a judgement based on a request for a preliminary ruling in Case C-754/18 between Ryanair Designated Activity Company v Országos Rendőr-főkapitányság where it ruled, amongst others, on …
COVID–19 AND THE PERFORMANCE OF CONTRACTUAL OBLIGATIONS
Introduction Unfortunately, the outbreak of the corona virus has created devastating effects on everyday lives, caused significant disruption to businesses and impacted on global markets, trade and commerce. The virus, now classified as a “pandemic”, has led governments issuing emergency measures including, but not limited to the restriction in movement as well as temporary closure …
Continue reading “COVID–19 AND THE PERFORMANCE OF CONTRACTUAL OBLIGATIONS”
TAX INVESTIGATIONS ON CROSS BORDER STRUCTURES FROM FOREIGN TAX AUTHORITIES
WHAT A TAXPAYER SHOULD EXPECT Introduction The last financial crisis changed the landscape around taxes throughout the world. The world has moved to greater transparency and additional measures were introduced in order to combat tax evasion and tax avoidance.