Measures Announced by Registrar of Companies in Response to the Coronavirus Outbreak
he Cyprus Registrar of Companies (the “Registrar”) announced on 23 March 2020 some measures for supporting businesses in response to the restrictive provisions imposed due to the coronavirus (COVID-19) outbreak. The measures are outlined below. The procedure for publication in the Official Gazette of the Republic of a 3 months’ notice before deregistration of non-compliant […]
Measures to Support the Economy of Cyprus in Response to the Coronavirus Outbreak – Update
It has been clarified by the Ministry of Finance that the months for which the contributions to the General Healthcare System will be reduced…
Measures to Support the Economy taken by Cyprus Government in Response to the Coronavirus Outbreak
The outbreak of the coronavirus (COVID-19) is creating an unprecedented challenge for the whole world. Having been recently declared as a global pandemic by the World Health Organization, the virus is causing a huge distraction to our day to day personal and professional working lives. The Cyprus Government announced on 15 March 2020 a package […]
Cyprus Tonnage Tax System Extension – Amendments
As announced back in January the European Commission approved the extension of the Tonnage Tax system applicable to the shipping industry in Cyprus for 10 years starting from…
Reference Interest Rates for 2020 for Notional Interest Deduction on New Equity
The Cyprus Tax Department published on 12 February 2020 the bond yield rates per country as at 31 December 2019 to be considered for…
One Thing in Common
What do all these, otherwise totally diverse and different, entities and persons have in common?
The answer is that they…
Increase in General Healthcare System Contributions
As from 1 March 2020, the respective contributions will increase to 2.90% for employers, 2.65% for employees, 4% for self-employed persons and 4.70% for the state…
Cyprus Companies on the Brink of Forced Strike-Off
Recently notices were sent by the Registrar even for Annual Returns which were submitted in the past, irrespective of the fact that at the time there was no indication of any issue with the particular Annual Returns…
Double Tax Treaty between Cyprus and Kazakhstan enters in to force
Following the ratification of the DTT by Cyprus on 24 May 2019 and the signing of the ratification law in Kazakhstan on 30 December 2019, the treaty entered in to force on 17 January 2020 and it generally applies as from 1 January 2021.
Cyprus ratifies the Multilateral Instrument
On 22 January 2020, the Instrument of Ratification of the Multilateral Convention to Implement Tax Treaty Related Matters to Prevent Base Erosion and Profit Shifting was published in the Official Gazette of the Republic of Cyprus…