News

Cyprus Shipping License & its Current Tax Levels Renewed for 10 More Years

The European Commission has granted Cyprus’ Shipping request by to prolong the Cyprus Shipping Taxation System for another 10 years. The extension request was submitted to the Commission for official approval earlier towards the end of 2019, according to reports.


Tax Exemptions in the Updated Cyprus-Ukraine Tax Treaty

Last month, the parliament of Ukraine passed a draft law endorsing the amending Cyprus Double Tax Treaty Protocol. The Cyprus-Ukraine Tax Treaty has been in effect for 5 years since December 11th, 2015. Consequently, the amending protocol is now being implemented and will come into force next year by 1st January 2020.


Green Olives Get Their Own Annual Festival in Episkopi, Cyprus

Green olives or elies tsakistes (Ελιές τσακιστές) as they’re known in Greek, recently received the recognition they deserve for being such an integral part of Cyprus’ food and culture.


Cyprus Receives 15,000 Yellow Slip Applications Since Brexit Announcement

The Cyprus government have released the official figures for residence certificates (yellow slip) applications since July 2016, when the UK voted to leave the EU. The departure has seen over 15,000 new British national applications have been filed.


Environmental Tax to be Adopted by Cyprus by as Early as 2021?

Green taxes are expected to be introduced in 2021, Finance Minister Harris Georgiades said earlier in the week at a 3-day Global Conference on Environmental Taxation, organised by the Cyprus University of Technology (Greek: Τεχνολογικό Πανεπιστήμιο Κύπρου) or "ΤΕΠΑΚ" in Limassol.


Cyprus Government Propose Corporate Tax Rate Increase to 15%

Finance ministry sources on Tuesday confirmed reports that the government is considering raising the corporate tax rate from 12.5% currently to 15%, whilst trying to alleviating economists growing concerns that the island may lose its competitive edge as a business and maritime hub.


Legal Update: Terms of Cyprus & Kazakhstan Double Taxation Agreement

Earlier this year, the Convention for the Avoidance of Double Taxation & the Prevention of Fiscal Evasion was assended into national law, in Nur-Sultan, between the Government of Cyprus and the Government of Kazakhstan.


ICPAC Warns Against the Spread of Fake News Reports Online

The Institute of Public Certified Accountants of Cyprus have released a publication warning its Members of the dangers of sources who are spreading deliberately manipulated information with the aim to mislead people and sway public opinion.