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Press releases and law firm thought leadership

This page is dedicated to keeping readers informed of the latest news and thought leadership articles from law firms across the globe.

If your firm wishes to publish press releases or articles, please contact Shehab Khurshid on +44 (0) 207 396 5689 or shehab.khurshid@legalease.co.uk

 

Legal Developments Worldwide

Articles contributed by Elias Neocleous & Co LLC

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New Cyprus law on data system security

April 2018 - TMT ( Technology, Media & Telecoms). Legal Developments by Elias Neocleous & Co LLC.

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New Cyprus law on data system security

The Security of Networks and Information Systems Law, Number 17(I) of 2018, implements articles 8 and 9 of EU Directive 2016/1148 on measures to achieve a high common level of security of network and information systems throughout the EU. It designates the Commissioner for Electronic Communications and Postal Regulation (Commissioner), appointed under article 5 of the Regulation of Electronic Communications and Postal Services Law 112(I) of 2004, as the national competent authority for the purposes of article 8 of the directive, with responsibility for coordinating the implementation of the cyber-security strategy and monitoring the application of the directive at national level.

New “federal” EU Tax rules on the table

April 2018 - Tax & Private Client. Legal Developments by Elias Neocleous & Co LLC.

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In 2011, in response to public concerns over large multinational companies exploiting differences in national tax rules, the European Commission published a proposal for a Common Consolidated Corporate Tax Base (CCCTB) to unify tax rules throughout the EU. Individual countries would still be free to set their own tax rates, but anomalies between countries in terms of deductibility of expenses and recognition of income would be eliminated. The initial proposal met with considerable political resistance, particularly from the United Kingdom, and was not pursued. In October 2016, perhaps in anticipation of less resistance once Brexit was completed, the Commission issued a revised proposal to replace the earlier one. It aims to introduce a set of common rules for determining the tax base of companies with operations in several EU Member States and tax them in the country where their revenues are generated, and remove the anomaly of large companies paying what the public perceives as disproportionately low amounts of tax in countries where they have significant activities.