Visible female leadership and a commitment to gender equality can help propel progress towards gender parity in mid-market leadership. Read the full report to learn more about the value of visibility and the positive impact gender-balanced leadership can have. More voices. More visibility. More momentum.
The EBA has published the second phase of its IRRBB Heatmap Implementation, outlining medium- to long-term supervisory objectives for IRRBB and CSRBB. The update shifts the focus from remediation towards consistency and proportionality, with particular emphasis on the most recent results of SOT analysis, the monitoring of the 5-year cap on NMDs repricing profile, commercial margin modelling, CSRBB perimeter identification, and hedging strategies. In this article, we summarise the key supervisory observations and recommendations and what they mean in practice for financial institutions.
Explore what superintelligence really means, the risks, opportunities, and ethical challenges of AI surpassing human intelligence - and why the time to act is now.
The global economic crisis that resulted as a consequence of the pandemic has stressed the relevance of prioritising sustainability pillars within financial services.
The mid-market’s real prioritisation of sustainability not only reflects the growing expectation of stakeholders but the forward-thinking nature of this entrepreneurial segment.
On October 18th, 2021 ECB published its report regarding the 2022 thematic stressed test focusing on climate risk. The 2022 climate risk stress test exercise is considered to be a joint learning exercise with pioneering characteristics, that will be conducted from March 2022 to July 2022.
The European Central Bank (ECB) has provided guidance to financial institutions in order to disclose and manage climate change-related and environmental risks within an organisation. As of November 2020, ECB published the final guide on climate-related and environmental risk with supervisory expectations relating to risk management and disclosure.
Before the introduction and enforcement of the General Data Protection Regulation (GDPR) back in May 2018, several organizations have been left exposed to risks that emerged from inadequate data protection and cybersecurity controls.
On 26/4/2021 an amendment to the Cyprus VAT Law was published in the official Gazette which exempts from VAT educational services for vehicle technicians.
On 29/4/2021 an amendment to the Cyprus VAT Law was published in the official Gazette which precludes the imposition of penalties in specific cases
The European Commission has issued a press release on 12/4/2021 according to which it has proposed to exempt from Value Added Tax (VAT) goods and services made available by the European Commission, EU bodies and agencies to Member States and citizens during times of crisis.
Following the amendments of the Cyprus VAT Law that were announced in the Government Gazette on 20/08/2020, the Tax Department will impose penalties, as from 1st July 2021, in relation to the non-application of the reverse charge mechanism.
We would like to inform you that in accordance with the Decree issued on 12 March 2021, the following electronic submission deadlines are extended to 30 September 2021
The Cyprus Tax Department has issued Implementing Regulation No.11/2021 of 17 February 2021, providing clarifications in relation to the time of supply in cases of non-monetary consideration in the construction industry.
Following the enactment of N5(1)/2021 amending the Cyprus VAT Law which was announced on 9/1/2021, the Tax Department issued a notice providing clarifications in relation to the payment of VAT in instalments.
We would like to inform you that the Cyprus Tax Department announced on 03 February 2021, that the EU Directive regarding DAC6 is expected to be incorporated into the Cypriot legislation within the current month.
Following the uncertainty arising from the current economic shock, prudential and securities regulators have published guidelines for the application of IFRS 9 in the context of the COVID-19 pandemic.
As per the requirements of the EU Directive 2015/849 of the European Parliament and of the Council of 20 May 2015 on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing (4th EU Directive) and article 61A (a) of the Prevention and Suppression of Money Laundering Activities Laws of 2007-2018, each EU member state is required to maintain a central register of beneficial owners of companies and other legal entities. In particular, of each physical person owning or controlling more than 25 % of the entity.
On January 7th 2021, the Tax Department issued clarification announcements in relation to the exit of the United Kingdom (UK) from the EU.