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Cyprus is one of the EU’s smallest and most isolated countries, but it hasn’t remained untouched. Travel and tourism were abruptly curtailed. In mid-April the Central Bank of Cyprus urged banks to focus on the provision of short-term liquidity facilities for up to 12 months at preferential interest rates. This was designed to help viable

C. COSTA ASSOCIATES AUDITORS LTD – Coronavirus announcement Dear Clients and associates, In view of the current situation created by the spread of the coronavirus (Covid-19) which affects not only us as individuals but the whole world, we are trying to do our part to protect ourselves and those around us. We have taken a

VAT on building land 5% Recently the Cyprus Council of Ministers has come to a decision to provide a VAT refund to individuals who bought land for the construction of their primary residence in Cyprus. The purpose of this VAT refund is to reduce the VAT rate on the acquisition of land from 19% to

Recent Amendments to the Cyprus Companies Law Cap. 113 (Law 149(I)/2018) – with an aim to modernise and streamline the filing and registration requirements and processes with the Registrar of Companies. Introduction of Administrative Fines for late filings The Registrar of Companies shall impose an administrative fine for late filing of the below notifications to

Την προσοχή των εποπτευόμενων οργανισμών για την είσπραξη μετρητών πέραν των €10 χιλ. επισύρει η επιτροπή κεφαλαιαγοράς. Με εγκύκλιό της, η ΕΚ ενημερώνει τους εποπτευόμενους οργανισμούς ότι σύμφωνα με το άρθρο 5Α του περί της Παρεμπόδισης και Καταπολέμησης της Νομιμοποίησης Εσόδων από Παράνομες Δραστηριότητες Νόμου του 2007 η είσπραξη σε μετρητά για ποσό ίσο ή

Dear clients and associates, we would like to inform you of recent tax updates regarding back-to-back loan arrangements and negotiating payments of accrued taxes. Back-to-back loan arrangements The current regime provides for minimum acceptable net profit margins on intra-group back-to-back loan arrangements. This will apply until 30 June 2017 and any tax ruling obtained under