Overview UK Nationals residing in Cyprus and receiving a pension from the UK have benefited by the original Double Tax Treaty signed between Cyprus and the UK in 1974 and amended in 1980 (“the original Treaty”), as a result of…
On March 15th, 2020, the Government of the Republic of Cyprus unveiled new measures to combat the impact cause by the Covid-19 crisis. Some of these measures include: “Special Leave” allowance for parents, not exceeding the amount of €1,000 (€1,200…
On Sunday, March 15th 2020, the Cypriot Government unveiled a series of measures aimed at assisting small and medium sized companies address the adverse effects of the Covid-19 crisis. Some of the measures include: GHS- An important change is introduced…
Cypriot taxpayers will be pleased to hear that the settlement of overdue taxes – by providing a relief on penalties and interest – incurred up to the year 2015 has now been extended until August 2020. The House of Representative…
2nd Wave of General Health System (GHS) The implementation of the national health insurance system, which started on 1 March 2019 initially covering only outpatient care, is expected to be fully completed by June 1, 2020. From 1 March 2020,…
On 19th of December 2019, an amendment of Article 14 of the Income Tax Law of 2002 was published in the Official Gazette of the Republic of Cyprus. The amendment increases the limit of allowances from 1/6th to 1/5th of…
On Thursday, 7 November 2019, Eurofast celebrated its 40 year anniversary at the Latsia Municipality Theatre in Nicosia, Cyprus, in a wonderful event enjoyed by more than 300 guests. Breath-taking Argentinian Tango Group “Tango Legends”, brought to Cyprus by Eurofast…
On October 30th 2019, the Ukrainian Parliament finally ratified the long-awaited Protocol (concluded in 2015 and ratified by the Cypriot Government in the same year), amending the Cyprus-Ukraine Double-Tax Treaty (“CY-UKR DTT”), thereby marking the finalization of formal internal procedures…
In accordance with the Cypriot Value Added Tax – Country Tax Guides issued by the Commissioner of Taxation, the supply, modification, repair, maintenance, chartering and hiring of aircrafts used by airlines travelling on international routes are zero rated. Military aircrafts,…
As mentioned in our previous circulars, the Registrar of Companies in Cyprus has proceeded with amending its regulations and has announced that their implementation shall be in force as of 18 December 2019. These newly introduced regulations and amendments on…