The Cyprus Stock Exchange (“CSE”) operates within the defined European framework and is under full supervision by the Cypriot authorities. In addition to the Regulated Market, the CSE also operates the non-regulated Emerging Companies Market, on the basis of the…
The newly amended sections relate to taxes on income and the prevention of tax evasion and avoidance. Pursuant to the latest discussions between the Republic of Cyprus and Egypt, an agreement has been concluded for the amendment of the DTT between the two States. Both countries have…
It is probable that, while you are reading this article, Cyprus is already the latest European country to introduce transfer pricing legislation in its income tax law with effect from the 1st of January 2021. This introduction will mark a new era of how Cypriot corporations shall calculate their tax base: transfer pricing, in essence, is a mechanism that divides the…
Eurofast would like to inform you that on the 25th of June 2018, the EU Council Directive 2018/822 (commonly referred to as “DAC6”) was published in the Official Journal of the EU. DAC6 amends EU Council Directive 2011/16/EU on administrative…
On December 16th, 2020, the Council of Ministers decided to transpose the 4th Anti-Money Laundering Directive (EU) 2015/849 to the national legislation. This new AML Law amendment shall essentially implement the central registry of ultimate beneficial owners. The registry is to be developed and completed in the second half of 2021 and…
Despite COVID-19, the international tax environment continues to transform. Has your organization updated its method of operation to comply with the new requirements? The EU Anti-Tax Avoidance Directive (“ATAD”) contains five legally binding anti-abuse measures implemented by most Member States…
[print_link] We are pleased to announce that in August 2020, Mr. Christodoulos Damianou, the Group CEO of Eurofast was appointed Honorary Consul of Ukraine in the Republic of Cyprus with jurisdiction over the district of Nicosia and Famagusta. His Excellency…
In an Extraordinary General Meeting of the Cyprus Parliament on 13 October 2020, the Council of Ministers has voted and decided to cancel the Citizenship by Investment Programme. In its official press release, the Republic of Cyprus announced that the…
Glamping is a glamorous way of camping. It is designed for those who enjoy spending time in nature without wanting to sacrifice luxury accommodation. This unique experience includes all the essentials that campers need along with a luxury tent offering…
[print_link] According to the Income Tax Law of 2002, the Cyprus tax residency- based system constitutes individuals physically spending over 183 days within a tax year (1st January to 31st December) in Cyprus (the “183-day rule”), as tax residents in…