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 deadline for electronic submission of the 2019 personal income tax return by employees and pensioners whose gross income exceeds €19.500 has been extended until 30 November 2020
Learn more about the compliance requirements and the impact of the aforementioned EU directive to your business.
The Directive on Administrative Cooperation (Directive (EU) 2018/822) known as DAC 6 is an EU directive that relates to mandatory automatic exchange of information in the field of taxation, with regards to reportable cross-border arrangements.
The Tax Department issued a notification on 11 September 2020 in relation to the refund of VAT/tax.
Sophisticated cyber attacks pose a serious threat for organisations today. Many businesses, have had their data compromised due to insecure systems and a lack of safeguards. Data breaches can have serious financial and legal implications, as well as lasting reputational damage.
The House of Representatives of the Republic of Cyprus on 31/07/2020 enacted several important amendments to the Cyprus VAT law.
We provide global intelligence-led cyber risk and current threat profiling. We provide specific, pragmatic and actionable industry best practice to improve cyber security posture and help manage security incidents if required.
On June 11, 2020 the Court of Justice of the European Union (‘CJEU’) gave its judgement in case of Vodafone Portugal (C-43/19). The case concerns whether VAT is due on amounts received by Vodafone from customers that have terminated their contracts early and before the end of the contractual tie-in period.
On 3 July 2020 the Cyprus Parliament published legislation (Law Amending the VAT Law (No.2) of 2020) relating to the “quick fixes” package provided for by EU Directive 2018/1910.
The Tax Department issued an announcement earlier this week in relation to the reinstatement of quarterly reporting periods and the payment of VAT for the period ending 31/05/2020.
The recent VAT payment deferral arrangements were a welcome concession for businesses in the early stages of the coronavirus pandemic.
Following on with the most recent measures announced by the Minister of Finance in support of the Cyprus economy, the Council of Ministers has issued a new Decree (Κ.Δ.Π. 268/2020) on 23/6/2020. This decision effectively reduces the applicable VAT rate for certain services relating to the tourism industry, from 9% to 5%.
A government bill passed, to offer tax credits to landlords as an incentive to lower rents to help tenants who find themselves in financial difficulty due to lockdown against COVID-19.
Further to our previous VAT Alert regarding the amendments of the VAT reporting periods and payment deadlines for certain businesses who have received notifications from the Tax Department pursuant to Decree ΚΔΠ 170/2020, the Tax Department issued an updated announcement on 21/4/2020, in order to provide the following clarification:
In an effort to satisfy the increased cash-flow requirements of the Cyprus Government resulting from the COVID-19 outbreak, the Council of Ministers issued on 16 April 2020 a new Decree (ΚΔΠ 170/2020).
The Ministry of Finance has issued an announcement declaring that the Decree will not be brought into effect.