NEWS

New strategy launched to attract investors

The Cyprus government has presented a new strategy for attracting businesses to Cyprus with emphasis on high technology, shipping, innovation, and research and development, in a bid to turn the island into a business and...

Six investors shortlisted for the sale of loans by state-owned asset manager KEDIPES

Six investors have been shortlisted in the context of the project “Ledra” concerning a sale a €477 million package of performing loans by Cyprus state-owned asset manager KEDIPES. The deadline for the transaction provides that...

Russia and Cyprus sign amended double taxation treaty

Russia and Cyprus on Tuesday 8 September signed a protocol amending the double taxation treaty following the conclusion of negotiations in August. “Signing the protocol ensures continuation of the implementation of the double taxation avoidance...

Value Added Tax (VAT) Changes

In light of the negative consequences of Covid-19, the Cyprus government has announced a national fiscal package of measures to help the affected economy. The support package includes a VAT payment pause of two (2)...

Standard & Poor’s affirms Cyprus’ growth prospects, highlights risks from virus

Standard & Poor’s Global Ratings has affirmed its BBB-/A-3 long- and short-term foreign and local currency sovereign credit rating on Cyprus with a stable outlook. The stable outlook incorporates Cyprus` robust growth prospects, improving public...

Cyprus and Kazakhstan signed double taxation convention

The Republic of Cyprus and Kazakhstan have signed a Convention for the Avoidance of Double Taxation and for the Combating of Tax Evasion with respect to taxes on income. According to a press release issued...

Central Bank Governor: Anti-money laundering efforts beginning to be recognised abroad

The newly appointed Governor of the Central Bank of Cyprus Constantinos Herodotou has spoken of a new culture of compliance in Cyprus banks on anti-money laundering since 2013. Addressing the 9th Nicosia Economic Congress on...

US official praises Cyprus’ “enormous progress” on anti-money laundering

US Department of Treasury Assistant Secretary for Terrorist Financing Marshall Billingslea has praised Cyprus’ “enormous progress” in issues relating to anti-money laundering. Billingslea, who was in Cyprus last week, met with Finance Minister Harris Georgiades,...

EU LIST OF NON COOPERATIVE TAX JURISDICTIONS approved 12 March 2019

EU Finance Ministers have updated the EU list of non-cooperative tax jurisdictions, based on an intense process of analysis and dialogue steered by the Commission. The list has proven a true success with many countries...

Agreement for avoidance of double taxation concluded between Cyprus and Saudi Arabia

The agreement for avoidance of double taxation concluded between Cyprus and Saudi Arabia in January 2018 came into effect on 1 March 2019. As announced by the Tax Department of the Cyprus Ministry of Finance,...
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