News

Regarding the enforcement of restrictive measures on transactions in case of emergency act 2013

 

Order under Articles 4 and 5

Under Articles 4 and 5 of the Act, and upon the recommendation of the Director and with the consent of the Director, the following restrictions are imposed:

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Update on Cyprus economic situation

Eurozone finance ministers have agreed over the weekend a deal on a EUR 10 billion bailout for Cyprus to prevent its banking system collapsing and keep the country in the eurozone. As part of the deal a significant downsizing of the banking sector shall be affected almost immediately.

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Russian “Black List”

Cyprus has now been officially removed from the so called Russian Black List.

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Cyprus International Tax Treaty News

Tax treaty with Ukraine: -A new double tax treaty has been signed with Ukraine and the treaty shall be effective on January of the year in which the parties exchange notices of ratification.

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Stamp Duty Law

An amendment of the stamp duty law converted the amounts expressed therein from the old Cyprus currency (Cyprus pounds)to Euros. With effect from March 1st, 2013 the bands applicable for the assessment of stamp duty applicable to contracts are as follows:

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