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Effective governance is key in accelerating the transition to a Circular Economy
Sustainability Effective governance is key in accelerating the transition to a Circular Economy
🌿Given the current levels of resource use, it is estimated that we are using Earth’s resources 1.8 times faster than our planet’s biocapacity can regenerate. In other words, in 1 year we use 1.8 earths! The use of materials has sharply risen in the last 50 years. Read the latest article by our Sustainability Senior Consultant Anastasia Ellina ♻️🌍
8 min read | 22 Apr 2023
Unshell (ATAD 3): Proposal for a Council Directive
Tax update Unshell (ATAD 3): Proposal for a Council Directive
On 17 January 2023 the European Parliament (“EP”) approved the European Commission’s (“EC”) proposal of 22 December 2021, for a Council Directive to introduce stricter substance requirements to combat tax benefits claimed by “shell entities”.
George Karavis
George Karavis
| 4 min read | 05 Apr 2023
Embracing the Future of Finance: EU (European Union) DLT (Distributed Ledger Technology) Pilot Regime and Its Impact on the Financial Services Sector
Distributed Ledger Technology Embracing the Future of Finance: EU (European Union) DLT (Distributed Ledger Technology) Pilot Regime and Its Impact on the Financial Services Sector
This article delves into the DLT Pilot Regime, its objectives, and its significance in the European financial services sector. For more information on how the DLT Pilot Regime can benefit your business, contact Grant Thornton Cyprus, a leading provider of professional services.
9 min read | 27 Mar 2023
Trending articles
Tax update Transfer pricing: new rules as of 1 January 2022
George Karavis
George Karavis
| 3 min read | 12 Jul 2022
Our latest insights
Quantitative Risk Model Risk Management Principles for Banks
In May 2023, the PRA has issued a Supervisory Statement (SS1/23) as part of a Policy Statement (PS 6/23) which also incudes feedback on the consultation paper (CP) 6/22 - Model Risk Management Principles for Banks. The policy becomes effective on Friday, 17 May 2024.
21 Sep 2023
Digital Risk Revolutionizing the Cypriot Justice System: Grant Thornton's Vital Role in Transforming Investigations for Commercial Court Proceedings
The legal Cypriot community has recently seen leaps of improvement in the way cases and electronic data are handled. Aside from the fact that electronic evidence has recently became admissible to the Cypriot court, the establishment of a commercial court in the island comes to revolutionize the way commercial cases are litigated.
01 Aug 2023
Quantitative Risk Climate & Environmental Risks Physical Risk Quantification Framework
In 2023, the ECB Banking Supervision conducted two separate stress test exercises involving euro area's significant institutions. A total of 57 institutions were directly supervised in the EU-wide test coordinated with other financial authorities like the European Banking Authority (EBA), while 41 additional significant institutions were part of a parallel stress test overseen by the ECB. The results published on the 28th July 2023
31 Jul 2023
Distributed Ledger Technology Getting Ready for MiCAR
The Markets in Crypto Assets Regulation (MiCAR) came into force on June 30, 2023. This regulation requires crypto asset firms to obtain a license to provide their services in the European Economic Area (EEA). To ensure readiness for MiCAR and avoid any surprises, it is important to consider certain factors over the next 18 months.
26 Jul 2023
VAT update Reduction of VAT rate for certain products and services
On 21/7/2023 amending VAT Law 75(I)/2023 was announced in the Official Gazette of the Republic, thereby bringing into effect reductions in the VAT rate which applies to certain goods and services, previously subject to the reduced rate 5%.
Kyriakos Fili
Kyriakos Fili
| 2 min read | 25 Jul 2023
Quantitative Risk Climate & Environmental Risks Physical Risk Quantification Framework
Climate change is not just an environmental issue; it's a financial one too. The Financial Stability Board (FSB) has been at the forefront of addressing the financial risks associated with climate change. Their 2023 progress report on the "FSB Roadmap for Addressing Financial Risks from Climate Change" provides valuable insights into the progress made and the challenges ahead.
05 Jul 2023
Quantitative Risk BIS Newsletter on credit risk issues for banks and supervisors
Overview of the BIS newsletter on credit risk issues, addressing key areas of concern for banks and financial institutions and ongoing challenges in credit risk management and provisioning as an aftermath of the persisting effects of the COVID-19 pandemic.
05 Jul 2023
Distributed Ledger Technology Navigating Crypto Asset Promotion Rules
While crypto-asset markets currently represent a tiny fragment of the global financial system in terms of size, they have grown significantly since the end of 2020. This surge in digital currencies, however, brings along substantial risks that are often inadequately disclosed to consumers, especially on social media platforms.
20 Jun 2023
Quantitative Risk Climate & Environmental Risks Physical Risk Quantification Framework
How Grant Thornton’s approach can identify and measure Physical Risk and how such methodology can be utilized by institutions.
15 May 2023
Sustainability Effective governance is key in accelerating the transition to a Circular Economy
🌿Given the current levels of resource use, it is estimated that we are using Earth’s resources 1.8 times faster than our planet’s biocapacity can regenerate. In other words, in 1 year we use 1.8 earths! The use of materials has sharply risen in the last 50 years. Read the latest article by our Sustainability Senior Consultant Anastasia Ellina ♻️🌍
8 min read | 22 Apr 2023
Tax update Unshell (ATAD 3): Proposal for a Council Directive
On 17 January 2023 the European Parliament (“EP”) approved the European Commission’s (“EC”) proposal of 22 December 2021, for a Council Directive to introduce stricter substance requirements to combat tax benefits claimed by “shell entities”.
George Karavis
George Karavis
| 4 min read | 05 Apr 2023
Distributed Ledger Technology Embracing the Future of Finance: EU (European Union) DLT (Distributed Ledger Technology) Pilot Regime and Its Impact on the Financial Services Sector
This article delves into the DLT Pilot Regime, its objectives, and its significance in the European financial services sector. For more information on how the DLT Pilot Regime can benefit your business, contact Grant Thornton Cyprus, a leading provider of professional services.
9 min read | 27 Mar 2023
Sustainability Worth to recycle imperative to become sustainable!
The number of people who doubt the positive impact of recycling on the environment, industry, health, and our everyday life is thankfully shrinking with each passing year. Recycling has a significant role in any strategy for improving environmental conditions on the planet.
2 min read | 18 Mar 2023
The push for parity The push for parity
Progress on the overall number of women in senior leadership continues, but it’s concerningly slow.
08 Mar 2023
Women in business Positive progress – On a global scale
Although positive, progress is slow. This year, women in mid-market companies hold 32.4% of senior management positions, up 0.5pp from last year’s 31.9%.
07 Mar 2023
Women in business Women take a leading role
Grant Thornton research reveals big increases in the percentage of women occupying chief executive officer (CEO), managing director (MD), and chief information officer (CIO) positions.
07 Mar 2023
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