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The Department of Merchant Shipping recently published new guidelines regarding the periodic inspection and maintenance of safety equipment.

The Department of Merchant Shipping has issued a circular to owners, operators and managers of Cyprus ships informing them of the recent enactment of the Implementation of the Provisions of the United Nations Security Council Resolutions or Decisions (Sanctions) and the European Union Council Decisions and Regulations (Restrictive Measures) Law of 2016.

Earlier in 2016 the Tax Department announced the 10-year government bond rates at December 31 2014, which will be used as the basis for the notional interest deduction for the 2015 tax year for Cyprus, Germany, India, Romania and Russia...

The department will consider no applications for the use of services on board a Cypriot ship involving security guards or firearms that are not recorded on the private ship security company's certificate.

The Cyprus parliament recently approved new legislation to align domestic law with articles 1, 2, 3, 4, 7, 10, 11 and 14 of Directive 2014/49/EU of the European Parliament and Council of 16 April 2014...

On 9 September 2014 a new law amending the Liberalisation of the Interest Rate and Related Matters Law of 1999 ("the LOIRL") was published in the official gazette and took effect.

Most capital gains are exempt from tax in Cyprus; the only gains that are subject to tax are those relating to real estate located in Cyprus.

The Cyprus Companies Law Cap 113 has been amended to transpose the EU Accounting Directive (2013/34/EU) into domestic law with effect from September 23 2016.

The measurement and reporting procedures are subject to approval and monitoring by officially approved verifiers appointed by each EU member state's designated accreditation body.

On December 15 2016 the Cyprus Securities and Exchange Commission (CySEC) issued for consultation a draft law dealing with the submission of complaints about regulatory infringements and the protection of persons raising such complaints...

The Cyprus Securities and Exchange Commission has issued a circular notifying issuers of securities which are listed for trading on the Cyprus Stock Exchange or another regulated market of the ...

The Department of Merchant Shipping recently invited owners and operators of ships flying the Cyprus flag to submit proposals for funding under the Motorways of the Sea initiative...

The new double taxation agreement between Cyprus and Iceland, which was signed on 13 November 2014, entered into force on 22 December 2014.

At the end of January 2015 a number of detailed amendments were made to Cyprus laws regulating the financial and investment sector to align them with EU legislation.

The deadline for submitting applications to participate in the scheme was originally set at three months after the law took effect.

In 2014, the Inland Revenue department, which dealt with direct taxation, and the VAT department were merged to create a single Tax Department. One of the principal objectives of the unified body...

The Insolvency Practitioners Law, 64(I) of 2015 was published in the official gazette on 7 May 2015.