Dear Clients and Associates, According to the Inland Revenue legislation, each company needs to estimate its final taxable income for the current year by 1 August and pay three equal installments on the estimated tax at the following dates: 1. 1st August - current year2. 30th September - current year3. 31st December - current year If the Company fails to…

According to an announcement of the Cyprus Securities and Exchange Commission (CySEC) dated 18 May 2012, CySEC has signed a bilateral Memorandum of Understanding and Cooperation (MoU) with the China Securities Regulatory Commission in Beijing on the 17th of May 2012. The MoU was signed by the Vice-Chairman of the Cyprus Securities and Exchange Commission, Mr. Andreas Andreou and the…

The Portuguese Ministry of Finance has removed Cyprus from the country’s ‘black list’ of jurisdictions which are considered to have privileged tax regimes (tax heavens), based on the Decree No. 292/2011, in both countries’ efforts to be in full compliance with relevant EU Directives, such as the EU Directive on mutual assistance and exchange of information in the field of…