Cyprus successfully concluded another pending issue, namely the new Cyprus – India Double Taxation Avoidance agreement. According to an official source “An official level meeting between India and Cyprus took place in New Delhi on June 28 and 29, 2016, to finalize the new India Cyprus Double Taxation Avoidance Agreement, wherein all pending issues, including […]
Continue ReadingPoland has approved changes to the Tax Ordinance Act and certain other acts. Among the changes that have been adopted by the Senate on May 19, and have been submitted to the President for signing is the introduction of a general anti-avoidance rule (“GAAR”), which is expected to become effective in late June this year. […]
Continue ReadingAccording to official data from the Department of the Registrar of Companies and Official Receiver (DRCOR), International Investors are increasingly using Cyprus as an International Business Service Centre. According to the latest released figures, there was a significant increase in the number of new company applications during March, with the numbers showing an astonishing 23% […]
Continue ReadingA double taxation avoidance protocol between Cyprus and Ukraine has been signed in Kiev on Friday 11th of December 2015, amending the existing double tax avoidance convention that is in place since 1st of January 2014. According to a press release, “a most favourable clause has been adopted, for taxes on interest, dividends, royalties and […]
Continue ReadingLast Thursday the Cyprus House of Parliament adopted the bill for the sale of loans. This is the third weapon added to the arsenal of the banking institutions (following the law on foreclosures and the insolvency framework) in their efforts to reduce the elevated Non Performing Loans. Shall they be successful in reducing the NPL’s, […]
Continue ReadingFollowing the Government’s continue efforts to improvise and modernize Cyprus’ status as an International Business Center, new company registrations can now be done within three days provided that all appropriate documents are correctly completed. The minister of commerce George Lakkotrypis assured investors on the aforementioned time frame and the same was confirmed by Spyros Kokkinos, […]
Continue ReadingFitch rating agency has upgraded Cyprus’s Long-term foreign and local currency issuer Default Rating by two notches to B+ from B- with a positive outlook, meaning that further upgrades are possible within a 12 month period if further signs of economic improvement are evident. The upgrade is a result of Cyprus positive fiscal performance and its […]
Continue Reading09 October 2015, During the Cyprus Association of Investment Funds (CIFA) Funds Summit that took place in Nicosia October 9th, the president of the association Mr. Aggelos Gregoriades stated that tax incentives are being prepared aiming at attracting investment fund managers. The incentives will most probably call for: A lower tax rate for the income […]
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