Company News

14/03/12 - RATIFICATION OF THE DTT BETWEEN CYPRUS AND RUSSIA

On 15 February 2012 the Russian State Duma ratified the Protocol to the DTT between the Republic of Cyprus and the Russian Federation which was signed on 7 October 2010 by the Presidents of the two countries in Cyprus.

13/03/12 - Increase in the standard rate of VAT

From 1 March 2012 the standard rate of VAT of Cyprus increased from 15% to 17%.

13/03/12 - Tax Amendments 2012

In December 2011 the Cyprus House of Representatives passed a series of measures, aiming at the strengthening of public finances.

22/11/11 - Company levy

The Cyprus government has introduced an annual levy of €350 payable by Cyprus registered companies, with effect from the year 2011.

22/11/11 - First Package of measures

On 26 August 2011, the House of Representatives passed a package of austerity measures (called the first package of measures). This package includes a number of amendments to the tax legislation as well as the Company’s Law.