The Legal 500

Twitter Logo Youtube Circle Icon LinkedIn Icon
PATRICIAN CHAMBERS, 332 AGIOU ANDREOU STR., 3035 LIMASSOL, CYPRUS
Tel:
Work +357 25 87 15 99
Fax:
Fax +357 25 34 45 48
Email:
Web:
www.pavlaw.com
Limassol, Nicosia

Show all Press releases

Cyprus introduces rules to implement Country by Country reporting requirements

February 2017

The Cyprus Minister of Finance issued a Decree on 30 December 2016, introducing a mandatory Country by Country (CBC) reporting requirement for multinational enterprise groups generating consolidated annual turnover exceeding €750m (MNE Group). 

 Read more...

Legal Developments by:
Patrikios Pavlou & Associates LLC

  • ICLG:International Arbitration Cyprus 2016

    The only requirement under the main laws applicable to arbitration (see below) is that the arbitration agreement has to be a written agreement to submit present or future disputes to arbitration and, under common law principles, this agreement has to be clear and certain.  Read more...
    - Patrikios Pavlou & Associates LLC

Legal Developments in Cyprus

Legal Developments and updates from the leading lawyers in each jurisdiction. To contribute, send an email request to
  • Initial Coin Offering (ICO) through Cyprus The Tax & VAT aspect

    ICOs have recently exploded and become an increasingly popular method of fundraising for start - ups and other companies with the intention to fund innovative projects based on the Blockchain technology.
  • New Cyprus law on data system security

    New Cyprus law on data system security
  • New “federal” EU Tax rules on the table

    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.
  • Initial Coin Offering (ICO) Through Cyprus

    Initial Coin Offering, known as “ICO”, is a relatively new phenomenon in the crowdfunding industry being the main subject of discussion in the Blockchain and financial communities.
  • The new Prospectus Regulation EU

    On 30th June 2017, the European Parliament and the European Council published in the Official Journal of the European Union the Regulation (EU) 2017/1129 on the prospectus to be published when securities are offered to the public or admitted to trading on a regulated market (the “New Prospectus Regulation”).
  • Relocation and Retirement in Cyprus - The Tax Aspect

    Since 2004, Cyprus is a full Member State of the European Union. This fact, along with its good strategic location, highly skilled human capital, excellent infrastructure, reliable communications, relatively low cost of living, sound and stable legal system, warm climate and hospitality of its people, are some of the advantages which contribute to Cyprus’ continuous development as a competitive international financial, tourist, retirement and relocation centre.
  • The new EU regulation on general data protection 2016/679 (“GDPR”)

    A. INTRODUCTION
  • Notional Interest deduction 11/17

    Introduction
  • Cyprus: Changes To The Inheritance Process Under European Succession Regulation 650/2012

    The growing importance of cross border successions within the European Union and the difficulties and complications resulting from the diversity of succession and private international law rules relating to succession, prompted the European Commission to examine the possibility of introducing a Regulation that would facilitate and streamline cross border successions.
  • A fight against corruption by the proposed introduction of Criminal Record Certificates for Companie

    Due to existing problems with regards to companies competing for the undertaking of public projects, on the 28 th  September 2015 the Cabinet decided to give an end to the scandals involving the squander of millions of public money by approving an amendment Bill, which would add to the conditions for public tenders, the requirement of providing a Criminal Record Certificate for legal entities. Until today, this was not required due to gaps and loopholes in the existing Law. Provided this Bill will be passed into Law by its publication at the Official Gazette of Cyprus, companies applying for public tender will be asked to produce a certificate that would show they have a clean criminal record.