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Personal Data Protection – Commissioner issues a Fine Against Local Bank
Personal Data Protection, Commissioner issues a Fine Against Local Bank A complaint was filed with the Office of the Personal Data Protection Commissioner against one of the major Banking Institutions in Cyprus and its associated insurance company, by an individual, who had requested a copy of his insurance policy, but despite the relevant investigation, it...
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Cyprus - VAT Payment in Installments without Penalty Imposition
Cyprus – VAT Payment in Installments without Penalty Imposition As of the 2nd November 2020, the pertinent Cyprus VAT Law has been amended to provide for an allowance the VAT- Registered persons to settle the VAT that is due on 10th November 2020 in six (6) equal monthly instalments, without the imposition of additional tax,...
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Tax Law amendment 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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