Elias Neocleous Interview With The Lawyer

The Lawyer, a leading weekly British magazine for commercial lawyers and in-house counsel, recently published an analysis of the current state of the Cyprus legal services sector and of its prospects in the new climate of increased scrutiny of tax planning and mitigation. The article featured an extensive interview with Elias Neocleous, vice-chairman of our firm and head of the corporate and commercial department. Extracts are reproduced below.

Q: What are the issues around corporate tax in Cyprus at the moment?

A: The big issue for Cyprus, as for other financial centres, is defining its role in a climate of increasing scrutiny of companies' and individuals' financial arrangements, particularly those relating to taxation. Unlike some tax havens, which are used to illegally conceal assets and income for the purposes of tax evasion and other criminal activities, Cyprus has sought to position itself as a reliable, secure jurisdiction providing investors with