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Procedures for Payment of Stamp Duty
The Law Firm of G. Vrikis & Associates LLC would like to bring to your attention the recent change in the procedure of attaching stamp duties based on their value. As of the 27th of July 2020, the procedure for affixing Stamp Duties changes based on their value, as indicated by the relevant announcement posted...
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Amendment to the Double Tax Treaty between Cyprus and the Russian Federation
Pursuant to the latest discussions and talks between the Republic of Cyprus and the Russian Federation, an agreement has been concluded for the amendment to the Double Tax Treaty between Cyprus and the Russian Federation. The following announcement was issued on the 11th August 2020 by the Ministry of Finance of the Republic of Cyprus:...
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Provides tax incentives for reduced rent
On 2 June 2020, an amending Income Tax Law was published in the Official Gazette with respect to tax relief on rental income. The amendment was voted to support the Cyprus economy following the COVID-19 outbreak and provides a tax incentive to landlords (individuals or companies) to voluntarily reduce the rent charged to tenants. According to...
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Cyprus Companies Law
A common occurrence relating to private limited liability companies in Cyprus and indeed throughout the world, is a disagreement arising between the shareholder(s) of the company and the directors, typically relating to day-to-day management issues in which the Directors normally hold power over. Such disputes can be solved through the provisions of the Cyprus Companies...
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Cyprus has always been keen to provide a competitive edge for business activities on a global scale and to this effect, Cyprus has ensured that it can provide an attractive regime to benefit one of the most valuable assets of any business, its Intellectual Property. As such, Cyprus offers a beneficial tax rate and is...
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Zeta Emilianidou
Following the issue of Regulations ΚΔΠ 5229-5233 and ΚΔΠ 5239, the Minister of Labour, Welfare and Social Insurance issued on 2nd May 2020 Regulations ΚΔΠ 5257-5261 extending the provision of Special Leave Benefit for the care of children, the Special Sickness Benefit, the Special Benefit for Self-Employed and the Special Unemployment Benefit under the Special...
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Within the framework of the ongoing process of reviewing the measures taken to address the current crisis due to the COVID -19 pandemic and the declared will of the Government and the President of the Republic himself to stand in solidarity with the workers and following the evaluation by the Ministry of Labour, Welfare and...
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In response to relevant enquiries and questions raised by the general public as to the practical application of the Fiscal Measures offered bby the Govenrment, further announcements have been made by the Minister of Employment, Welfare and Social Insurance. The key items to note are: Partial Suspension of Business and Self-employed Persons: in order for...
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Cyprus Parliament
We would like to update you that the Cyprus Parliament, in response to the ongoing emergency relating to the COVID-19 Virus, has passed the following laws and/or amendments to existing laws, in an effort to provide fiscal assistance to citizens and businesses. The decisions were passed on Friday 27/03/2020 and shall take effect upon publication...
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Admiralty & Shipping Law
The Shipping Deputy Ministry (SDM), in an effort to support shipping companies and owners of Cyprus ships and to enable them to address the difficulties encountered due to the wide spread of the coronavirus outbreak, has decided to extend the date of payment of the Cyprus Registry Maintenance Annual Fee and the tonnage tax of...
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