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451. 22.3% of Cyprus population at risk of poverty in 2019

The most recent European Statistics on Income and Living Conditions (EU-SILC) 2019 survey shows that 22.3% of the Cyprus population, that is 194,400 persons, are living in households that are at risk of poverty or social exclusion....

452. EU keeps expanding future vaccine portfolio

EU Health Commissioner Stella Kyriakides said the European Commission has concluded exploratory talks with CureVac to purchase a potential vaccine against COVID-19...

453. Farmer refuses to return worker’s passport

A story has emerged involving alleged mistreatment of a foreign worker, after a post shared on Facebook by a local NGO pointed to an old practice by employers unlawfully retaining foreign workers’ passports for leverage...

454. Cyprus and Russia come to terms

It will no longer be possible for wealthy Russians to distribute profit via dividends to foreign firms in Cyprus, after Nicosia said it agreed with Moscow on terms to amend a double tax treaty, but some say the island still kept some competitive advantages...

455. Pandemic's impact on tourism poses significant risks to Cyprus economy

The European Commission’s summer economic forecast expects significant risks to the Cyprus economy as a result of the coronavirus pandemic’s impact on the tourism sector, which is predicted to see just 25% of last year’s revenues and high unemployment....

456. Cyprus human egg trade market returns to spotlight

The illegal trade of human eggs in Cyprus returned to the limelight during this week’s House human rights committee, with MPs expressing concern over a growing market in which female students are prime targets....

457. Jailed hostel manager says he is not a pimp

A male suspect facing pimping charges in a recent brothel investigation in downtown Nicosia says he was only renting single rooms to women and charging a lodging fee...

458. Police raid 'brothel' in Nicosia

Nicosia police arrested a local man and took seven women into protective custody following a raid at an old hotel described as a front for prostitution...

459. Cyprus public debt spikes to €24.5 billion due to Covid-19 crisis

Cyprus General Government debt spiked to €24.56 billion according to official data in April, reflecting the large debt issuances by the Finance Ministry to mitigate the impact of the coronavirus outbreak to the economy....

460. FinMin delves into details of 'new, more targeted measures'

Finance Minister Constantinos Petrides held a press conference on Thursday to delve into the details of the new bundle of economic support measures announced by President Nicos Anastasiades in a televised national address Wednesday night....

461. Negative coronavirus test certificate needed to go through crossings

With the partial opening of checkpoints on June 8, as agreed by the island’s two leaders on Thursday, Presidential Commissioner Photis Photiou said that in addition to the enclaved, Greek Cypriots who resettled in their villages in the breakaway north will also be allowed to pass through crossing points....

462. House passes bills mitigating pandemic repercussions

The House on Friday approved a wide array of bills, passing into law a wide array of bills seeking to keep Cyprus afloat as it is making its way through the first wave of the coronavirus pandemic....

463. Pandemic highlighted urgency of tackling climate challenges

While the coronavirus crisis has highlighted our vulnerabilities as a globally connected society, the recognition of the need to stabilize our climate and protect biodiversity preceded the current crisis by many years, Wolfgang Cramer, Scientific Co-Director of the Mediterranean Institute of Marine and Terrestrial Biodiversity and Ecology (IMBE), said Friday....

464. Half of Cyprus population unable to cope with unexpected expenses

Almost half (48%) of the populations of both Cyprus and Greece were unable to cope with unexpected financial expenses last year, data released by the European statistical service (Eurostat) on Tuesday showed....

465. 'Better Days Are Coming' campaign calls on tourists to visit Cyprus

A new campaign launched by the Deputy Tourism Ministry promises that ‘Better Days Are Coming’, calling on tourists to begin making plans to visit Cyprus, where idyllic landscapes and crystal clear seas will be waiting to greet them....

466. Civil society group launches petition demanding government covers rent, utility bills

A civil society group that formed in Cyprus amid the coronavirus outbreak to address urgent social concerns that have slipped through the cracks of the government’s support package launched a petition on Wednesday demanding that the government moves to cover rent and suspend utility expenses....

467. Over 23,000 applications filed for suspension of loan payments

More than 23,000 persons have applied to the island’s two largest banks for a suspension of loan repayments, as retail borrowers and companies are trying to preserve disposable income amid the economic activity shutdown due to the coronavirus pandemic....

468. Tax alert: Cyprus

469. Government considering to give banks €2b in state guarantees to unlock credit

The Cyprus government is considering a plan to provide state guarantees to banks amounting to €2 billion, in a bid to unlock credit to self-employed, small and medium-sized enterprises and large corporations hit by the coronavirus epidemic....

470. President: Partial lockdown of airports, schools to remain closed until April 10

President Nicos Anastasiades addressed the nation on Friday night after the week saw cumulative confirmations of coronavirus cases across the divide....

471. Support for solution widespread though many undecided, survey shows

Support for a solution remains strong, contact between Greek Cypriots and Turkish Cypriots is at its uppermost level and demand for economic contact between the two communities is high, the latest, the February 2020 Pulse survey showed....

472. Ambitious national tourism strategy already in motion

Cyprus’ national tourism strategy, containing a set of predefined goals for each year until 2030, is already being implemented, Deputy Minister of Tourism, Savvas Perdios, said on Tuesday....

473. Greek PM meets with five EU leaders over bloc's budget

Greek Prime Minister Kyriakos Mitsotakis held talks in Brussels on Friday with the leaders of Germany Angela Merkel, France Emmanuel Macron, Spain Pedro Sanchez, Italy Giuseppe Conte and Portugal Antonio Costa in a bid to break a deadlock in negotiations for the European Union’s 2021-2027 budget....

474. One in four in Cyprus at risk of poverty

Some 200,000 persons (23.9 per cent of the Cyprus population), or one in four, are at risk of poverty, participants of a two-day discussion in Nicosia organized by Cyprus and EU-wide anti-poverty networks heard....

475. Summit standoff as EU leaders grapple with Brexit-sized hole in budget

EU leaders made no headway on Thursday in fractious talks on a joint 2021-27 budget that was left with a 75 billion-euro (62.9 billion pounds) hole after Britain’s departure at a time when they face costly new challenges from climate change to migration....

476. Cyprus pensions gender inequality among highest in EU

Female pensioners in Cyprus received a pension that was 38.2 per cent lower than male pensioners in 2018, much higher than the EU average of a 30 per cent pension gap....

477. Football and Money Laundering

It has been identified years back at European and global level, that sports and especially football is being used by criminals to launder dirty money and derive illegal income...

478. Cyprus ratifies Multilateral Instrument

On 22 January 2020, the Instrument of Ratification of the Multilateral Convention to Implement Tax Treaty Related Mattersto Prevent Base Erosion and Profit Shifting(“the Multilateral Convention”) were published in the Official Gazette of the Republic in Greek and English, (“Multilateral Instrument”)...

479. House passes 2020 budget

The House of Representatives voted the state budget for 2020 on Wednesday evening with 29 votes in favour and 23 against...

480. Cyprus Tax Webcast November2019

Watch the new Deloitte Tax Webcast for November, presented by Mr. Pieris Markou, Deloitte Cyprus Tax & Legal Services Leader...