Feb 28
The value added tax applicable to most goods and services is increased as of the 1st of March 2012 from 15% to 17% in Cyprus. The measure is a result of austerity measures taken from the Cyprus Government to combat the global economic crisis. Read more
On the 24/02/2012 amending law 5(I)/2012 was published in the Cyprus Government’s official Newspaper. Law5(I)/2012 comes to amend the Cyprus Securities and Exchange Commission Law of 2009 (the “Amending Law”) by allowing the submission of electronic documents to the Cyprus Security and Exchange Commission (“CySec”). Read more
On the 15 February 2012 the Russian State Duma has ratified the Protocol to the Agreement for the avoidance of double taxation between Cyprus and Russian. Read more
Law 146(I)/2011 recently passed by the House of Representatives and requires registered partnerships to create and submit audited financial accounts (the “Amending Law”) to the Registrar of Companies. Read more
New measures have been agreed by the Cypriot Government for the stimulation of trade and development. The measures concern Financing of small and medium sized companies on beneficial terms, the promotion of renewable energy and many others. Significantly enough Mr. Kikis Kazamias commented on the opening of Casinos in Cyprus . . . saying that it will be considered at a later stage. Read more
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