Search

31. EY Cyprus releases the Cyprus Tax Facts Guide 2024

EY Cyprus is delighted to announce the release of the latest edition of the Cyprus Tax Facts guide for the year 2024....

32. Deloitte’s Tax Facts 2024

33. Persianis reveals limited cooperation with Finance Ministry

For the limited cooperation with the Ministry of Finance, for the wrong interpretation of the research with a political prism and for the fiscal risks, the President of the Fiscal Council of Cyprus......

34. Cyprus tax reform targets green initiatives and economic revitalization

By March 2024, the initial six phases of the tax transformation project commissioned by the Ministry of Finance to the Centre for Economic Research of the University of Cyprus will conclude,...

35. Cyprus makes the cut in new tax-friendly nations list

In a recent announcement, the Ministry of Finance shed light on the revised list of countries enjoying preferential tax status under the Independent Authority for Public Revenue of the Hellenic Republic (IAEA)....

36. EU's Schinas criticizes veto use, stresses need for compromise

European Commission Vice President Margaritis Schinas voiced concerns about the use of the veto as a primary defense tactic, stating that it hinders compromise rather than facilitating it....

37. Cyprus and the porn industry: High-tech hub exposed

For many years, the Republic of Cyprus, due to its art visa law, served as a hub for white flesh trafficking....

38. Cyprus and France seal the deal on tax cooperation

In a milestone development, Cyprus and France have solidified their commitment to combat double taxation through the signing of a renewed Convention on the Elimination of Double Taxation....

39. Cyprus-France convention breaks fiscal barriers

In a strategic maneuver to bolster economic collaboration, Cyprus and France are gearing up to sign a pivotal Convention on Monday in the capital city of Nicosia....

40. DAC6 revisited through the prism of DAC8

The Directive on Administration Cooperation (''DAC'') has been amended multiple times since 2011 to allow for the automatic exchange of information across multiple fields of taxation....

41. Cyprus' passport ranks 21st worldwide thanks to its perks and power

Cyprus's passport is currently the 21st most powerful globally, with a total score of 104.00. This ranking considers not only travel opportunities but also taxation, global reputation, dual citizenship policies, and personal freedom....

42. Bar meeting turns into ''starvation wages'' circus

The Parliamentary Committee of Lawyers, in conjunction with the new Council of the Cyprus Bar Association, addressed several critical issues during their meeting today....

43. Cyprus and Croatia forge tax treaty for business growth

The Republic of Cyprus and the Republic of Croatia have inked a significant Agreement for the Elimination of Double Taxation during the ECOFIN meeting in Luxembourg. ...

44. Ireland's tax policies fill sovereign fund coffers

Countries like Saudi Arabia, Norway, and Chile have long established their own sovereign-wealth funds....

45. EY Cyprus organised an event on the implementation and implications of the European Corporate Sustainability Reporting Directive (CSRD)

EY Cyprus has organized an event to present the challenges that many Cypriot companies will face in implementing the European Corporate Sustainability Reporting Directive (CSRD) and the European Sustainability Reporting Standards (ESRS). ...

46. Government unveils inflation relief plan for October's end

At the end of October, the government is expected to announce measures to alleviate the impact of inflation, while at the beginning of 2024 the government plans to implement the new green tax on fuels, together with compensatory measures, said the Minister of Finance, Makis Keravnos, while handing over the 2024 state budget to the President of the Parliament, Annita Demetriou. ...

47. President's silent pension raises eyebrows

Both the President of the Republic and members of Parliament have emphasized the necessity of legislative regulation to put an end to the simultaneous receipt of public employee pensions and salaries by political officials. ...

48. Cyprus banks' net interest income doubles amid ECB rate hikes

The Cypriot banking system's net interest income (NII) saw a remarkable doubling in the first half of 2023, marking an annual increase of 100%, primarily due to the ongoing rate hikes by the European Central Bank (ECB) aimed at tackling rising inflation....

49. EY Cyprus recognized by International Tax Review as National Transfer Pricing Firm of the Year for the 5th consecutive time

For the fifth consecutive year, EY Cyprus was named Transfer Pricing Firm of the Year by the International Tax Review (ITR) in recognition of the high-quality tax services offered. ...

50. TechIsland launches CY Guide Chatbot powered by LoqosAI

TechIsland, the largest tech association in Cyprus, announced the launch of version 1.0 of the ''CY GUIDE Chatbot'' powered by LoqosAI. ...

51. Government cuts interest income rates from 30% to 17%

The Cyprus government decided to slash taxation on interest income from 30% to 17%, Finance Minister Makis Keravnos said on Wednesday, noting that banks should follow suit in boosting income for depositors. ...

52. Jack Straw's call for two-state solution in Cyprus

Former UK Foreign Secretary Jack Straw has offered a proposal to resolve the long-standing conflict between the Greek Cypriot Republic of Cyprus and the Turkish Republic of Northern Cyprus (TRNC)....

53. Illegal smokes haul seized in Pournara migrant center

Customs authorities recently seized quantities of duty-free tobacco products believed to have been illicitly transported from the occupied areas of the Republic of Cyprus. ...

54. Fattal Group acquires Grand Resort Hotel

The Israeli hospitality conglomerate, Fattal Hotel Group, is continuing its expansion in Cyprus by acquiring the five-star GrandResort hotel in Limassol, according to an announcement by Invest Cyprus. ...

55. Cyprus-Oman double taxation agreement approved

The Council of Ministers approved on Wednesday an agreement for double taxation avoidance and the prevention of tax evasion regarding income taxes as well as the relevant protocol between the Republic of Cyprus and the Sultanate of Oman, Minister of Finance, Makis Keravnos said after the Cabinet meeting....

56. Unmasking tax evasion on Greek islands

New technologies, as well as citizens, are bringing cases of major tax evasion to the surface....

57. 380 CYTA employees on the brink of departure

In an effort to further reduce operational expenses and renew its workforce, Cyta has implemented another voluntary employee exit plan, targeting individuals who meet specific conditions....

58. FinMin underlines the importance of disciplined policy

The contact circle with the banks has not been completed, and there will be a new one to adopt measures that will provide relief to borrowers regarding the increased interest rates....

59. EC challenges 5% VAT proposal for primary residences

Finance Ministry Director-General George Pantelis informed the parliamentary Finance Committee that the European Commission disagrees with the consensual proposal agreed upon in Parliament regarding the imposition of a reduced VAT rate on the construction or acquisition of a primary residence....

60. Cyprus and Netherlands seal double taxation deal

Cyprus' Minister of Finance, Makis Keravnos, expressed his satisfaction for the conclusion of negotiations on a double taxation avoidance agreement with the Netherlands in a meeting Thursday with the Ambassador of the Netherlands in Cyprus, Elke Merks-Schaapveld, according to a press release by the Ministry of Finance....