CYPRUS TAX DEPARTMENT: APPLICATION OF ARTICLE 33 OF LAW 187 (I)/2015
Circular 2016/15, issued on 24 November 2016, by the Cyprus Tax Department, defines the application of Article 33 of the Income Tax Law (118(I)/2002), as amended in 2015 (187(I)/2015). Article 33 enables the tax authorities to adjust and regulate transactions between related parties on terms which, according to the authorities, differ from those which would apply to similar transactions...
CYPRUS TAX DEPARTMENT: APPLICATION OF ARTICLE 33 OF LAW 187 (I)/2015
Circular 2016/15, issued on 24 November 2016, by the Cyprus Tax Department, defines the application of Article 33 of the Income Tax Law (118(I)/2002), as amended in 2015 (187(I)/2015). Article 33 enables the tax authorities to adjust and regulate transactions between related parties on terms which, according to the authorities, differ from those which would apply to similar transactions...
BANC DE BINARY SCANDAL: 8 OUT OF 10 CLIENTS LOST THEIR LIFETIME SAVINGS IN 5 MONTHS
Banc de Binary, one of the biggest global providers of online trading in binary options renounced its authorisation. Furthermore, the company was a sponsor of the football club Liverpool FC. The company provided its services via the domain eu.bancdebinary.com. The clients could create an online account and trade binary options online.
The Israeli-owned and Cyprus registered company is accused...
LICENSING OF PRIVATE SHIP-SECURITY COMPANIES IN CYPRUS
Cyprus is a leading ship management centre. Specifically, Cyprus is the third biggest maritime fleet in the EU and the tenth biggest fleet in the world. The strategic location of Cyprus, between Europe, Asia, Africa and the Middle East, the double tax treaties with more than 50 countries, as well as the relatively low set-up and operating costs for companies, urge ship owners to register their...
CYPRUS-RUSSIA DOUBLE TAX TREATY: AMENDMENT OF ARTICLE 13
The Ministry of Finance of the Republic of Cyprus announced that the state authorities of Cyprus and Russia have agreed to postpone the implementation of the Protocol amending Article 13 of the Double Tax Treaty (DDT) between Cyprus and Russia for the Avoidance of Double Taxation with respect to taxes on income and on capital, signed by the Republic of Cyprus and Russian Federation on the 7th...
LICENSING OF PRIVATE SHIP-SECURITY COMPANIES IN CYPRUS
Cyprus is a leading ship management centre. Specifically, Cyprus is the third biggest maritime fleet in the EU and the tenth biggest fleet in the world. The strategic location of Cyprus, between Europe, Asia, Africa and the Middle East, the double tax treaties with more than 50 countries, as well as the relatively low set-up and operating costs for companies, urge ship owners to register their...
LICENSING OF PRIVATE SHIP-SECURITY COMPANIES IN CYPRUS
Cyprus is a leading ship management centre. Specifically, Cyprus is the third largest maritime fleet in the EU and the tenth largest fleet in the world. The strategic location of Cyprus, between Europe, Asia, Africa and the Middle East, the double tax treaties with more than 50 countries, as well as the relatively low set-up and operating costs for companies, encourages ship owners to register...
CYPRUS-RUSSIA DOUBLE TAX TREATY: AMENDMENT OF ARTICLE 13
The Ministry of Finance of the Republic of Cyprus announced that the state authorities of Cyprus and Russia have agreed to postpone the implementation of the Protocol amending Article 13 of the Double Tax Treaty (DDT) between Cyprus and Russia for the Avoidance of Double Taxation with respect to taxes on income and on capital, signed by the Republic of Cyprus and Russian Federation on the 7th...
CYPRUS-RUSSIA DOUBLE TAX TREATY: AMENDMENT OF ARTICLE 13
The Ministry of Finance of the Republic of Cyprus announced that the state authorities of Cyprus and Russia have agreed to postpone the implementation of the Protocol amending Article 13 of the Double Tax Treaty (DDT) between Cyprus and Russia for the Avoidance of Double Taxation with respect to taxes on income and on capital, signed by the Republic of Cyprus and Russian Federation on the 7th...
DUTIES OF DIRECTORS UNDER CYPRUS COMPANIES LAW
Cyprus Companies Law (Cap. 113) provides that every private company shall have at least one director and every public company shall have at least two directors (s.170). Furthermore, every company must have a secretary and a sole director shall not be also secretary. However, in the case of a single-member private liability company the sole director can be also the company secretary (s.171)....