New EU Framework Proposed for Foreign Direct Investments

September 23, 2017

New EU Framework Proposed for Foreign Direct Investments: A new framework has been proposed by the European Commission for the screening of Foreign Direct investment into the EU.The reasoning behind this proposal as expressed by the Commission President is mainly for collective security protection.  Foreign direct investments on European ground concerning utilisation of energy or […]…

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The Fourth EU Anti Money Laundering Directive

September 7, 2017

Introduction: The fourth EU Anti Money Laundering Directive, (EU) No. 2015/849 (Directive) has entered into force since 26th June 2015. EU Member States had to implement the Directive by 26 June 2017 into national law. Nevertheless, Cyprus was not able to meet the deadline and the government had submitted a proposed bill to the parliament for […]…

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New Sanctions for Tax Havens under consideration

August 16, 2017

New Sanctions under consideration by the EU New Sanctions for Tax Havens under consideration:  Introduction: In 2016 the European Council took the decision that an EU list of non-cooperative jurisdictions should be prepared in 2017. Moreover the evaluation process which is intended to be regular and continuous process, for third countries is set to be […]…

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Creation Benefits of a Cyprus International Trust

August 5, 2017

Creation Benefits Cyprus International Trust: Our Firm has since 1979 been offering legal and corporate services and especially Trust and Asset protection services, to our international clients with great success. We will be thrilled to have you too as one of our valued clients. A well-known fact among the international financial community is that the Cyprus […]…

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Cyprus Income Tax Law amended

July 22, 2017

New definition to Cyprus Tax Resident Individual Introduction:Cyprus Income Tax Law amended: There has been a new amendment to the Income Tax Law, voted recently by the House of Representatives of the Republic of Cyprus.The amendment concerns the definition of Cyprus Tax Resident Individual which has now been changed. New Provisions Cyprus Income Tax Law […]…

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Cyprus Tax Department issues new rules regarding intra-group financing arrangements

July 9, 2017

Cyprus Tax Department issues new rules regarding intra-group financing arrangements: The Cyprus Tax Department (“CTD”) has recently issued a Circular regarding the new rules for the taxation of intra-group financing arrangements applying from 1 July 2017. The new Circular as in line with the OECD provides for the application of transfer pricing methodology to such […]…

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New Transparency Rules for Tax Advise intermediaries

June 25, 2017

New Transparency Rules for Tax Advise Intermediaries: New transparency rules have been proposed by the European Union concerning intermediaries who provide tax advisory services to their clients including design and promotion of tax planning.The scope of those rules covers intermediaries such as business consultants, tax advisers, legal consultants/lawyers, financial institutions such as banks and accountants. […]…

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Cyprus issues revised Country by Country Reporting Decree

June 11, 2017

 Cyprus issues revised Country by Country Reporting Decree:The Ministry of Finance of the Republic of Cyprus has recently issued a revised Decree on Country by Country Reporting which replaces the initial Decree which was issued on 30 December 2016.  Below are the main changes from the previous Decree as follows: The requirement of filing locally a CbC […]…

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