The Ministry of Finance announced the postponement of the deadline for submitting financial statements to the National Business Center. The annual deadline for submission was the end of July, but this year marked fundamental changes on the process of invoice…
Through the latest ministerial order, the Ministry of Finance has announced the change of National Accounting Standard no. 15, which affects all business units classified as “micro entities”. Specifically, starting from the financial period which begins on January 1st, 2022,…
Cyprus, one of the last EU countries to adopt a minimum wage, has agreed to set a national minimum monthly wage at €940. The Minister of Labour and Social Insurance, Kyriakos Kousios, announced this on August 31st, 2022. The implementation…
In this article, we summarize the most important changes to the Value Added Tax Law, adopted in the first six months of 2022, which came into force on the day of its promulgation, with the exception of some provisions for…
The Cyprus government passed new tax incentives on 26 July 2022. The scheme is along with the One Stop Shop, and the granting of visas and work permits to the spouses of professionals that relocate to Cyprus was at the…
Croatia’s acceptance into the European Union on the 1st of July marked the beginning of the end of the Kuna as Croatia’s currency ever since its introduction on 30th May 1994. Entering the European Union brought with it many changes…
On Thursday, 30 June 2022 the Cyprus Parliament passed a law introducing detailed transfer pricing legislation, marking a new era in company taxation, with effect from 1 January 2022. The OECD Transfer Pricing Guidelines have been legislatively incorporated in Cyprus. This short…
Shortly after the war commenced, Greece enacted a legislative framework regarding Ukrainian citizens that have been displaced after 24.02.2022 due to armed conflict. This framework – a considerably simplified kind of international protection – provides for temporary protection of Ukrainians…
Anyone that has had the ‘pleasure’ of processing payroll will know how a complex and time-consuming task this can be as it requires meticulous record-keeping, comprehensive tax knowledge, extreme attention to detail and efficient work habits. It is widely accepted…
Law 4919/2022: The enhanced digitalization of the General Electronic Commercial Registry’s functions and other provisions on the promotion of foreign companies’ establishment. In April 2022 a new legislation on General Electronic Commercial Registry (G.E.MI.) was adopted. Law 4919/2022 adheres to…