Updates


August
2020

We would like to inform you that the Cyprus Parliament has voted into law the following anti-tax avoidance measures under the European Union (EU) Anti-Tax Avoidance Directive (ATAD).

August
2020

Further to our Newsletter issue 02/2020, we would like to inform you that the House of Representatives has voted an additional extension to the deadline for the settlement of overdue taxes law.

August
2020

The Cyprus Securities and Exchange Commission ("CySEC") has carried out a review of the circumstances that are considered by Cyprus Investment Firms (the "CIFs") when applying inactivity fees to clients ("the Review") to ensure compliance with the provisions of Article 25(1) of the Investment Services and Activities and Regulated Markets Law ("the Law").

July
2020

The European Banking Authority ("EBA") published its final Guidelines on the treatment of structural FX positions.

June
2020

We would like to bring to your attention that the deadline for the first temporary tax installment for the tax year 2020 is approaching.

June
2020

The present Circular is issued pursuant to section 25(1)(c)(ii) & (iii) of the Cyprus Securities and Exchange Commission Law ("the CySEC Law").

June
2020

We would like to inform you that on the 23 June 2020 it was published in the Official Gazette of the Government the decree K.D.P 268/2020 issued by the Council of Ministers.

June
2020

An amendment to article 9B of the Income Tax Law (ITL) was published on 16 June 2020 in the Official Gazette, in relation to the Notional Interest Deduction (NID), in order to comply with the European Commission recommendations.

June
2020

The present Circular is issued pursuant to section 25(1)(c)(ii) &(iii) of the Cyprus and Exchange Commission Law ("the CySEC Law").

June
2020

On 2 June 2020, the House of Representatives voted an amendment in respect to tax relief on taxes relating to rental income, in order to support the Cyprus economy. The amendment provides a tax incentive to landlords that voluntarily reduce the rental amount charged to tenants (individual or company).

June
2020

The European Securities and Markets Authority ("ESMA"), the EU’s securities markets regulator, has submitted a response to the European Commission’s ("EC") consultation on a revision of the Non-Financial Reporting Directive ("NFRD"). 

June
2020

We would like to inform you that the Minister of Finance has granted an extension to the deadline for submission of the 2019 Income Tax Returns (T.D.1).

June
2020

The European Banking Authority ("EBA") launched a consultation on draft Regulatory Technical Standards ("RTS") on the capitalisation of non-modellable risk factors ("NMRFs") for institutions using the new Internal Model Approach ("IMA") under the Fundamental Review of the Trading Book ("FRTB"). 

May
2020

Extension to the deadline for submission of the 2018 Income Tax Return.

May
2020

The Cyprus Securities and Exchange Commission ("CySEC") wishes to inform the CIFs that the European Securities and Markets Authority ("ESMA") has published on 6 April 2020, the Guidelines on standardised procedures and messaging protocols ("the Guidelines").

May
2020

The European Securities and Markets Authority ("ESMA"), the EU securities markets regulator, publishes the first complete risk dashboard for 2020, and highlights the very high risks in all areas of ESMA’s remit. 

May
2020

The European Banking Authority ("EBA") welcomed the EU Commission’s action plan on anti-money laundering and counter terrorist financing ("AML/CFT").

May
2020

The European Securities and Markets Authority ("ESMA"), the EU’s securities markets regulator, has published the template for the publication of the quarterly non-equity Systemic Internaliser ("SI") data. 

April
2020

Further to our direct and indirect taxation Newsletter issued on March,  Issue 03/2020 regarding the Tax and VAT measures voted by the Cyprus Parliament to stimulate the economic activity following the COVID 19 outbreak, we would like to summarize in this newsletter the past measures and bring to your attention the recent additional measures announced by the Cyprus Government.  

April
2020

The three European Supervisory Authorities (European Banking Authority ("EBA"), European Insurance and Occupational Pensions Authority ("EIOPA") and European Securities and Markets Authority ("ESMA") - "ESAs") have issued a Consultation Paper.

April
2020

The Cyprus Securities and Exchange Commission ("CySEC") wishes to draw the attention to Issuers whose securities are admitted to trading on the Cyprus Stock Exchange or on other regulated markets.

April
2020

The Cyprus Securities and Exchange Commission (the "CySEC")wishes herein to draw the attention of the Cyprus Investment Firms (the “CIFs”) to the ESMA, clarifying the application of MiFID II/MiFIR requirements.

April
2020

The Cyprus Securities and Exchange Commission (the "CySEC") would like to inform Issuers regarding the Public Statement of actions to mitigate the impact of COVID-19 pandemic on the EU financial markets- postponement of the reporting obligations.

March
2020

Corporate Social Responsibility and Corporates’ response to COVID19, by Costas Loizou.

March
2020

We would like to inform you that the Minister of Finance has granted an extension to the deadline for submission of the corporate income tax returns (forms TD4) and of the personal income tax returns (forms TD1) of individuals preparing audited financial statements for the year 2018, from 31 March 2020 to 1 June 2020.

March
2020

In an effort to reduce the economic consequences of the recent outbreak of COVID-19, the Cyprus Parliament has voted the following tax and VAT related measures in order to support businesses and improve liquidity.

March
2020

The present Circular is issued pursuant to section 25(1)(c)(ii) & (iii) of the Cyprus Securities and Exchange Commission Law ("the CySEC Law"). 

March
2020

The present Circular is issued pursuant to section 25(1)(c)(ii) & (iii) of the Cyprus Securities and Exchange Commission Law of 2009, as amended ("the CySEC Law").

March
2020

The Cyprus Securities and Exchange Commission (the “CySEC”) wishes, with this Circular to inform the Cyprus Stock Exchange ("CSE") that it is actively following the developments related to the coronavirus disease 2019 ("COVID-19") and the impact that it may impose to its operations.

March
2020

The European Banking Authority ("EBA") launched a consultation to update the identification methodology of global systemically relevant institutions ("G-SIIs") and related capital buffer rates.

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