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21.03.2017
Actions for Damages for Infringements of the Competition Law of 2017
Competition Law
An important bill entitled “Actions for Damages for Infringements of the Competition Law of 2017” is currently pending before the Parliamentary Committee on Energy, Commerce, Industry and Tourism. The said bill aims to transpose the provisions of Directive 2014/104/EU of the European Parliament and of the Council of 26 November 2014 on certain rules governing actions for damages under national law for infringements of the competition law provisions of the Member States and of the European Union (“Competition Damages Directive”) into national law. read more
10.02.2017
Tax Update – Intention to abolish back to back profit margins
Taxation Law

On 8 February 2017, the Cyprus Tax Department indicated the intention to abolish the current tax legislation which requires minimum profit margins on loan transactions of a Cypriot resident company to and from related companies, in light of international tax developments, such as the OECD/G20 BEPS Project.

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30.01.2017
Tax Update – Repayment of overdue taxes in instalments
Taxation Law
On  27 January 2017, the Cyprus House of Representatives passed legislation affording people the opportunity to repay overdue taxes in monthly instalments.
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19.01.2017
European Account Preservation Order

On 18 January 2017, EC Regulation No.655/2014 establishing the ‘European Account Preservation Order’ ("EAPO") came into force. The Regulation introduced a new procedure to facilitate cross-border debt recovery in civil and commercial matters by providing common rules in all European Union Member States relating to jurisdiction, issuance and enforcement of EAPO by national courts and authorities, as well as the measures available to debtors following the issuance of such an order. 

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12.01.2017
Energy Efficiency and Energy Performance Contracting in Cyprus
Energy Law, European Union Law
The European Union has identified Energy Efficiency as a valuable means to address and to tackle the unprecedented challenges resulting from increased dependence on energy imports and the need to limit climate change and to overcome the economic crisis. read more
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