Language: English HOME THE FIRM PRACTICE AREAS VIRTUAL OFFICE NEWS CONTACT US Home > News News Treaty Update: Cyprus - Iran 30/11/2017 - The DTA between Cyprus and Iran will become effective from January 1, 2018. Treaty Update: Cyprus - Mauritius 26/10/2017 - Cyprus and Mauritius signed a DTA Protocol on October 23, 2017. Treaty Update: Cyprus - San Marino 25/05/2017 - Cyprus and San Marino signed a DTA Protocol on May 19, 2017. Treaty Update: Barbados - Cyprus 22/05/2017 - Barbados and Cyprus signed a DTA on May 10, 2017. Treaty Update: Luxembourg - Cyprus 15/05/2017 - Luxembourg and Cyprus signed a DTA on May 8, 2017. Treaty Update: Cyprus - Russia 20/01/2017 - During recent negotiations, Cyprus and Russia agreed to postpone the implementation of a Protocol to their double tax agreement. Treaty Update: India - Cyprus 09/01/2017 - The revised double tax avoidance agreement between India and Cyprus will take effect from April 1, 2017. Treaty Update: Russia - Cyprus 06/01/2017 - Russia and Cyprus have agreed to delay placing into effect a Protocol to their DTA, the Cypriot Ministry of Finance confirmed on December 29. Annual Governmental Levy 2017 11/12/2016 - Annual Governmental Levy 2017 The annual levy for the year 2017 is payable to the Registrar of Companies by the 30/6/2017. Read More... The amount of the Levy payable is EUR 350.00 per company. In case of failure to pay the levy by the deadline penalties will be imposed on the amount of EUR 350.00 as follows: The amount payable between the 1/7/2017 – 30/8/2017 will increase to EUR 385.00 The amount payable between the 1/9/2017 – 30/11/2017 will increase to EUR 490.00 The amount payable as of the 1/12/2017 shall be EUR 500.00 Close Treaty Update: Cyprus - India 05/12/2016 - India and Cyprus signed a DTA Protocol on November 18. Treaty Update: India - Cyprus 23/11/2016 - India and Cyprus signed a DTA Protocol on November 18. Treaty Update: India - Cyprus 06/09/2016 - The Indian Cabinet on August 24 approved the signature of a double tax agreement protocol with Cyprus. Treaty Update: Jersey - Cyprus 25/07/2016 - The Jersey Government on July 11, 2016, announced the signing of a DTA with Cyprus. Treaty Update: Cyprus - India 13/07/2016 - Cyprus and India have concluded negotiations on a DTA. Treaty Update: Cyprus - Latvia 03/06/2016 - Cyprus and Latvia signed a DTA on May 24, 2016. Treaty Update: Ukraine - Cyprus 13/04/2016 - A DTA Protocol between Ukraine and Cyprus has been forwarded on to Ukrainian lawmakers for approval, the Government announced on March 31. Treaty Update: Cyprus - Ethiopia 05/02/2016 - Cyprus ratified its DTA with Ethiopia on January 18, 2016. Treaty Update: Cyprus - Ethiopia 25/01/2016 - Cyprus and Ethiopia signed a DTA on December 30, 2015. Treaty Update: Cyprus - Georgia 20/01/2016 - The Cyprus-Georgia DTA entered into force on January 4, 2016. Annual Governmental Levy 2016 18/12/2015 - Annual Governmental Levy 2016 The annual levy for the year 2016 is payable to the Registrar of Companies by the 30/6/2016. Read More... The amount of the Levy payable is EUR 350.00 per company. In case of failure to pay the levy by the deadline penalties will be imposed on the amount of EUR 350.00 as follows: The amount payable between the 1/7/2016 – 30/8/2016 will increase to EUR 385.00 The amount payable between the 1/9/2016 – 30/11/2016 will increase to EUR 490.00 The amount payable as of the 1/12/2016 shall be EUR 500.00 Close Treaty Update: Ukraine - Cyprus 16/12/2015 - Ukraine and Cyprus have signed a new DTA that would replace their existing DTA when it expires from January 1, 2019. Treaty Update: Cyprus - South Africa 22/10/2015 - South Africa published a notice in its Official Gazette on October 16, 2015, to ratify the DTA Protocol signed with Cyprus. The Protocol entered into force on September 18. Treaty Update: Barbados - Cyprus 19/08/2015 - The Barbados Government has announced that it will soon begin DTA negotiations with Cyprus. Treaty Update: Cyprus - Iran 06/08/2015 - Cyprus and Iran signed a DTA on August 4, 2015. Treaty Update: Cyprus - South Africa 10/04/2015 - Cyprus and South Africa signed a Protocol to their DTA on April 1, 2015. Treaty Update: Barbados - Cyprus 12/03/2015 - Barbados and Cyprus are engaged in negotiations towards a DTA, the Barbados Government confirmed on March 2, 2015. Treaty Update: Cyprus - Lithuania 16/02/2015 - According to information published by the Cypriot Ministry of Finance, the DTA between Cyprus and Lithuania entered into force on January 1, 2015. Annual Governmental Levy 2015 14/12/2014 - Annual Governmental Levy 2015 The annual levy for the year 2015 is payable to the Registrar of Companies by the 30/6/2015. Read More... The amount of the Levy payable is EUR 350.00 per company. In case of failure to pay the levy by the deadline penalties will be imposed on the amount of EUR 350.00 as follows: The amount payable between the 1/7/2015 – 30/8/2015 will increase to EUR 385.00 The amount payable between the 1/9/2015 – 30/11/2015 will increase to EUR 490.00 The amount payable as of the 1/12/2015 shall be EUR 500.00 Close Treaty Update: Cyprus - Iceland 13/11/2014 - According to preliminary media reports, Cyprus signed a DTA with Iceland on November 13, 2014. Bank of Cyprus Update 31/7/2014 - The Bank of Cyprus announced that the release of twelve fixed deposits of around 927 million euros, which were committed under orders of recapitalization in July 2013 and which expire on July 31, 2014. According to the announcement, "in the continuing gradual progress", the Bank proceeds to release twelve month Fixed Deposit as follows: 1/3 of the deposit shall be immediately released and is available to current accounts of their holders, 1/3 deposit is converted into three fixed deposit which shall expire automatically and shall be released on 30 October 2014 1/3 deposit is converted into six fixed deposit shall expire automatically and shall be released on January 30, 2015. Note that the released amounts will be subject to restrictive measures, to transfer money abroad, applicable to the banking system. It was stated that "The decision was taken into account and the Bank's announcement on the private placement €1 Billion ordinary shares, representing a significant and tangible indication of the confidence of international institutional investors to the Bank" Furthermore, "the release reflects the prudent liquidity management of the Bank and take into account the improvement in the economic environment". "With this decision, the Bank repays the confidence of depositors and simultaneously meet the expectations of society to support the recovery of the economy" concludes the statement. Close Treaty Update: Cyprus - Guernsey 29/7/2014 - The signing of a Double Taxation Agreement between Cyprus and Guernsey was completed on July 29, 2014. Read More... Treaty Update: Cyprus - Switzerland 27/7/2014 - and Cyprus signed a Double Taxation Agreement on July 27, 2014 Read More... Treaty Update: Cyprus - Lithuania 17/6/2014 - According to a July 17, 2014, update from the Cypriot Government, the territory's DTA with Lithuania will enter into force from January 1, 2015. Read More... Cyprus domesitic capital controls lifted 2/6/2014 - All restrictions on domestic banking transcations and payments in Cyprus have been lifted according to the 30th decree for the enforcement of temporary restrictive measures issued by the Ministry of Finance on 30 May 2014. Read More... Treaty Update: Spain – Cyprus 28/5/2014 - The Double Tax Agreement between Spain and Cyprus has entered into force on May 28/5/2014, following the publication of an Order ratifying the agreement in Spain’s Official Gazette on 26/5/2014. Read More... Bank of Cyprus update 30/4/2014 - Release of nine-month time deposits by Bank of Cyprus Read More... Treaty Update: Cyprus - Norway 24/2/2014 - The Government of Cyprus, confirmed the signing of a DTA with Norway Read More... Bank of Cyprus update 31/1/2014 - Release of 6-month deposits of Bank of Cyprus Read More... Treaty Update: Cyprus - Various 2/1/2014 - Double tax agreements between Cyprus and Estonia, Finland, Portugal and Spain, and a new DTA with Ukraine became effective on January 1, 2014 Read More... Treaty Update: India - Cyprus 4/12/2013 - Cyprus and India held negotiations towards a revision to the countries' DTA, to incorporate provisions on tax information exchange, over three days concluding on November 28, 2013. Read More... Treaty Update: Cyprus - Portugal 14/11/2013 - The DTA signed between Cyprus and Portugal will become effective from January 1, 2014, following the entry into force of the agreement on August 16, 2013. Read More... Treaty Update: India - Cyprus 11/11/2013 - India has notified Cyprus that it has suspended the DTA between the two territories, reportedly on account of Cyprus's failure to exchange tax information. Read More... Treaty Update: Cyprus - Sri Lanka 10/10/2013 - Cyprus and Sri Lanka have agreed to launch intensive negotiations to agree a draft DTA for signing during the three-day Commonwealth Summit scheduled to conclude on November 17, 2013. Read More... Treaty Update: Estonia - Cyprus 1/10/2013 - Estonia's parliament on September 25, 2013, approved a law that would ratify the DTA signed with Cyprus. Read More... Treaty Update: Ukraine - Cyprus 7/6/2013 - Ukraine's parliament, the Rada, voted against a law to terminate the nation's DTA with Cyprus on June 5, 2013. Read More... Treaty Update: Cyprus - Ukraine 22/5/2013 - Ukraine's DTA with Cyprus was forwarded to the nation's parliament, the Rada, for ratification on May 15, 2013. Read More... Central Bank of Cyprus Decree for Laiki Bank and The Bank of Cyprus 30/3/2013 - The Central Bank of Cyprus Decree regarding Laiki Bank and the Bank of Cyprus: Read More... Cyprus Bail Out 25/3/2013 - On Monday, 25th March 2013, the Cypriot President Nicos Anastasiades and the "troika" agreed the terms for the Euro 10 bln bail-out for Cyprus. The key terms of the agreement and of the proposed implementing Cyprus legislation are as follows: Read More... Parliament Decision 20/3/2013 - Members of Cyprus parliament rejected the tax on bank deposits as conditioned by Eurogroup for its financial assistance to the island. Read More... Cyprus - Eurogroup 19/3/2013 - On the 16th of March 2013, an agreement has been reached by the Member States of the Eurozone, to grant financial assistance to the Republic of Cyprus up to an amount of €10 billion to cover fiscal needs, the restructuring of the banking system and for the support and development of the economy in general. Read More... Treaty Update: Cyprus - Estonia 13/3/2013 - The Cypriot Ministry of Finance has confirmed the nation has completed its domestic ratification procedures in respect of the DTA it signed with Estonia, publishing an Order in its Official Gazette on February 1, 2013. Read More... Cyprus - Spain Double Tax Treaty 14/2/2013 - A double taxation agreement between Spain and Cyprus was signed in Nicosia by the Spanish ambassador and the Minister of Finance of the Republic of Cyprus after negotiation for several years. Read More... Annual Registrar Levy for Cyprus Companies, for the Year 2012 In January 2013 according to the Companies (Amending) (No.3) Law of 2012 (Law No.190(I)/2012) and the Companies (Amending) Law of 2013 (Law No.6(I)/2013) the House of Representatives abolished all exceptions and voted that the annual fee of €350.00 should be paid to the Registrar of Companies Read More... Fiduciary Service Providers Law In December 2012 the House of Representatives passed a bill regulating trustees, company administrators and directors in a move expected to further boost the island's competitiveness.. Read More... Cyprus - Portugal Double Tax Treaty 19/12/2012 - Cyprus signed a Double Tax Treaty convention with Portugal in an effort to make the Republic of Cyprus a more attractive jurisdiction Read More... Cyprus - Finland Double Tax Treaty 15/11/2012 - Cyprus signed a Double Tax Treaty with Finland. Read More... Cyprus - Ukraine New Double Tax Treaty 8/11/2012 - A new tax treaty between Cyprus and Ukraine was signed. The treaty will enter into force when it is ratified by the parliaments in both Cyprus and Ukraine. Read More... Update on Double Tax Treaty Between Cyprus and Ukraine 5/11/2012 - The Ukrainian Cabinet approved the signing of a draft Double Taxation Treaty with Cyprus Read More... Update on Double Tax Treaty Between Cyprus and Esthonia 15/10/2012 - Cyprus and Estonia signed a Double Taxation Treaty. Read More... Update on Double Tax Treaty Between Cyprus and Ukraine 12/10/2012 - The Deputy Head of the Ukrainian Parliamentary Committee on Foreign Affairs, Read More... Third Package of Tax Measures In July 2012 the following Tax amendments were enacted by the Cyprus House of Representatives: Read More... Amendment to the Cyprus - Russian Protocol In May 2012 the following amendment were implemented in the Cyprus - Russian Double Tax Treaty: Read More... Amendment to Cyprus / Austria Double Tax Treaty Austria and Cyprus have signed an amendment to the Double Tax Treaty in May 2012. The amendment has not been yet been published. Read More... Amendment to the Cyprus-Poland Double Tax Treaty In March 2012 a protocol was signed between Cyprus & Polish governments amending the existing Double Tax Treaty between the two countries as follows: main changes to the 1992 Law are the following: Read More... Amendment to Cyprus International Trust Law of 1992 In March 2012, the House of Representatives passed an amendment to the Cyprus International Trust Law of 1992. The main changes to the 1992 Law are the following: Read More... Cyprus / Russia new Protocol On February 2012 the Russian Duma ratified the Protocol (the "Protocol") to the Double Tax Treaty between Cyprus and Russia Read More... Second Package of Tax Amendments The following tax amendments where enacted in January 2012 by the Cyprus House of Representatives: Read More... Exemption from deemed dividends distribution by foreign shareholders of Cyprus companies (1)Section 3(3) of the Special Contribution for Defence Fund of the Republic Law, Law 117 of 2002 (as amended) Read More... Fiscal reform enactments of August 2011 In August 2011, the House of Representatives enacted several laws reforming the fiscal position of the Government, and simultaneously maintaining the competitiveness of Cyprus Read More... Amendments to the Companies Law CAP 113 The amendments to the Companies Law Cap.113 are the following below: Read More... Exclusion of Cyprus from Ukrainian Blacklist The Cabinet of Ministers of Ukraine published a list, effective as of 01 April 2011, of offshore jurisdictions, pursuant to which payments by residents of Ukraine Read More... Removal of Cyprus from Russian list of Offshore Zones (1)The Central Bank of the Russian Federation has issued instructions, effective 29 March 2010, for the removal of Cyprus from the list of countries described as "offshore zones" with a privileged taxation system. Read More... LATEST NEWS Treaty Update: Cyprus - Iran 30/11/2017 - The DTA between Cyprus and Iran will become effective from January 1, 2018. Read More Treaty Update: Cyprus Mauritius 26/10/17 - Cyprus and Mauritius signed a DTA Protocol on October 23, 2017. Read More Contact Info Spyrides Tower 5 Vyzantiou Street, Strovolos 2064 - Nicosia , Cyprus Tel.: +357 22210000 Fax.: +357 22210011 info@spyrides.eu Download Brochure Download or Leaf through our 3D brochure © 2012 SDM SPYRIDES LLC. All rights reserved - Legal Disclaimer - Sitemap Designed by E.P. CREATION SERVICES LTD Developed by Cape Solutions