K. Treppides & Co Ltd was established in 1985. The company’s reputation has continued to expand as a leading practice providing a holistic range of audit, tax, accounting, legal, consulting and financial advisory services to international companies. Different clients’ success stories reflect the company’s innovative thinking in a range of industry sectors, including Banking and Investment Banking, Financial Services Firms, Manufacturing Companies, Internet Based Companies, Oil and Gas Companies and Shipping Companies. Currently the Company has offices in Nicosia, Limassol, Malta and London and employs over 200 people.
Further to our previous newsletter Issue 05/2021 regarding the imposition of a 0.4% levy on the sale of Cyprus immovable property, we would like to inform you that an amending law has been published in the Official Gazette providing clarifications on the collection of the levy.
The European Banking Authority ("EBA") published its annual quantitative Report on minimum requirement for own funds and eligible liabilities ("MREL") with data as of December 2021.
We would like to inform you that the Commissioner of Taxation has issued Circular 1/2023 clarifying that, as from 1 January 2022, Circular No.3, dated 30.06.2017, and Circular No. 5, dated 2.1.2019, in relation to intra-group “back-to-back” financing transactions, are terminated and their provisions will no longer apply.
The European Banking Authority ("EBA") published its quarterly Risk Dashboard together with the results of the autumn edition of the Risk Assessment Questionnaire ("RAQ").
