News

ΠτΔ, Υπουργός Οικονομικών – Συνέντευξη Τύπου
Προεδρικό Μέγαρο, Λευκωσία, Κύπρος
Ο Πρόεδρος της Δημοκρατίας κ. Νίκος Αναστασιάδης και ο Υπουργός Οικονομικών κ. Κωνσταντίνος Πετρίδης παραχωρούν συνέντευξη Τύπου αναφορικά με το Σχέδιο Δράσης για την προσέλκυση εταιρειών για δραστηριοποίηση ή/και επέκταση των δραστηριοτήτων τους στην Κύπρο.
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PoR, Finance Minister – Press conference
Presidential Palace, Lefkosia, Cyprus
The President of the Republic, Mr Nicos Anastasiades, and the Minister of Finance, Mr Constantinos Petrides, hold a press conference to present the Action Plan for the attraction of new companies and/or the development of companies' activities in Cyprus.

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 trade centre in the wider region and Europe. Speaking at the presentation on Friday 15 October, President Nicos Anastasiades said the strategy includes 12 targeted … Read more

kedipes

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 final binding offers will be submitted by the end of October. At the initial stage 13 investors entered the virtual data room, with six remaining … Read more

ru-cy

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 treaty, which undoubtedly is beneficial for both sides since it encourages investment, trade across all sectors of the economy, but also the job market,” Finance … Read more

covid19

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) months and the reduction of VAT from 19% to 17% and from 9% to 7%. The VAT-related measures are: Temporary extension of the VAT payment … Read more

Standard & Poor's headquarters in the financial district of New York on August 6, 2011. The United States' credit rating was cut for the first time ever August 5 when Standard and Poor's lowered it from triple-A to AA+, citing the country's looming deficit burden and weak policy-making process. AFP PHOTO/Stan HONDA

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 debt dynamics, and track record of running budgetary surpluses, according to the report released Friday, 6 March. It also takes into account Cyprus` high stocks … Read more

kazakhstan

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 by the Public Information Office, the Convention was signed in Nursultan, Kazakhstan, by the Cypriot Minister of Foreign Affairs Nikos Christodoulides and the Kazakh First … Read more

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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 “the Cyprus Economy – The way forward,” Herodotou said anti-money laundering efforts undertaken by the Cyprus authorities “are beginning to be recognised abroad.” This, he … Read more

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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, a visit described as part of the US’ scrutiny over the island’s financial sector. Georgiades pointed out the two countries and the EU are promoting … Read more

COMMISSION-EUROPENNE

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 having changed their laws and tax systems to comply with international standards. Over the course of last year, the Commission assessed 92 countries based on … Read more

Riyadh skyline at night #7, Capital of Saudi Arabia

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, the provisions of the agreement and of the related protocol apply with regard to: Taxes withheld at the source, in amounts paid or credited on … Read more