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Extension of Tax Incentives for Reduced Rent The tax incentives provided to landlords for the voluntary reduction of rent charged to tenants – companies whose activities have been suspended due to the COVID-19 pandemic have been extended for the 2021 tax year. The Tax Law, along with the Special Defence Contribution Law, have been amended...
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Tax Submission Deadlines Extended
Tax Submission Deadlines Extended We would like to inform you that in accordance with the Decree issued on 12 March 2021 under Κ.Δ.Π. 105/2021, the following tax submission deadlines are extended to the 30th of September 2021: Electronic submission of the 2019 corporate income tax return (TD4), and Electronic submission of the 2019 personal income...
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Amendments to Legislation relating to Oaths and Affidavits
Amendments to Legislation relating to Oaths and Affidavits On the 26th February 2021, the Amending Law 14 (I) of 2021 was published in the Gazette of the Republic, by which lawyers will be able to accept an oath before them in the affidavits. Specifically, Article 2 is amended as follows: “Lawyer” means a person who...
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Brexit and Recognition of Lawyer’s Qualifications As of 1 January 2021, the United Kingdom has lost all its rights and obligations as an EU Member State during the transitional period under the Exit Agreement. It will no longer benefit from unrestricted access to the EU single market and customs union, nor from EU policies and...
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Introduction of the Register of Beneficial Owners and Trusts
Introduction of the Register of Beneficial Owners and Trusts As of the 16 December 2020, Cyprus has initiated the beneficial owners register for Cypriot companies and other legal persons registered in Cyprus. Following that, Cyprus is completely adhering into Directive (EU) 2015/849 law on the prevention of the use of the economic system for the...
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Criminal Record between EU countries
Exchange of Information from the Criminal Record between EU countries EU Council Framework 2009/315/JHA of 26 February 2009 regulates the organization and content of the exchange of information from the criminal record between Member States. The Framework Decision comprises the general principles for the operation of the exchange of criminal records between EU countries, together...
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Cryptocurrencies
Introduction of new rules governing derivatives on virtual currencies – Cryptocurrencies The Cyprus Securities and Exchange Commission (CySEC) issued for the first time regulations regarding cryptocurrency, which can be found in Circular C417, published in the end of November 2020. These rules have as a main aim to safeguard that Cyprus Investment Firms (CIFs), make...
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Additional Restrictive Measures Against The Pandemic COVID-19
Additional Restrictive Measures Against The Pandemic COVID-19 The presence of persons in houses other than permanent residents is prohibited – Remote for the public/wider public sector Due to the adverse epidemiological situation that has been observed in Cyprus lately, in an attempt to contain the spread of coronavirus in the community, the presence in homes...
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Additional restrictive measures against the pandemic COVID-19 Extraordinary Measures on an island-wide scale with effect from 31/12/2020 (06:00 am) to 31/12/2020 (11.59 pm) The Council of Ministers has decided the extension of the validity of the current measures and their reinforcement with the following additional measures, which will take effect on Friday 11 December, at 6:00 in...
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GDPR vs AML – When the Titans Clash The key and most far reaching changes in recent years has undoubtedly been the introduction of the General Data Protection Regulation (GDPR), as well as the introduction, strengthening and expansion of rules and regulations relating to the prevention and suppression of money laundering and terrorist financing –...
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