On September 12th, the European Commission introduced a groundbreaking package of proposals aimed at streamlining taxation rules within the European Union (EU). This comprehensive initiative comprises three key components: Business in Europe: Framework to Income Taxation (BEFIT): BEFIT is set to revolutionize the way businesses operate within the EU. It will establish a unified set...Read More
At Wealthmore Services Ltd, we understand the importance of team bonding and spirit in the workplace. That’s why we organized a hiking day for our team at Almirolivado/ Amiandos mine trail (Troodos area) on Friday 5th of May 2023, and it turned out to be an incredible experience! We started our day with a light...Read More
Credit rating agency DBRS Morningstar has acknowledged the Cyprus government’s announcement that it aims to achieve budget surpluses in the coming years, despite various risks. The country’s finance minister cited strong economic performance and prudent fiscal policies as key factors contributing to this goal. The announcement was made as part of the Cyprus government’s plan...Read More
Cyprus has launched a new immigration scheme aimed at attracting non-European Union (EU) citizens to invest in the country’s economy and obtain permanent residency or citizenship. The new scheme, known as the Cyprus Investment Programme (CIP), outlines specific investment thresholds and criteria that must be met by applicants in order to qualify for the program....Read More
The Cyprus International Trust is a powerful legal structure that has been used for decades by individuals and businesses to protect their assets, manage their wealth, and plan their estates. However, what many people do not know is that the Cyprus International Trust can also be used as a purpose trust, providing a range of...Read More
The EU Council revised its list of non-cooperative jurisdictions for tax purposes on 14 February 2023 and now consists of 16 jurisdictions which in addition to Russia, the BVI, Costa Rica and the Marshal Islands also includes American Samoa, Anguilla, Bahamas, Fiji, Guam, Palau, Panama, Samoa, Trinidad and Tobago, Turks and Caicos Islands, US Virgin...Read More
Our firm is seeking to recruit a semi-experienced Corporate / Trust Lawyer, to join our friendly Limassol Corporate practice, where we believe in building and maintaining high valued long term relationships with our clients. The ideal candidate will have previous experience in corporate and trust law/ administration for a portfolio of clients. If you are...Read More
The submissions should be completed using the following guidelines: Submission of a revised upward Temporary Tax return for the year 2022 to be completed by the 31st of December 2022. If the Taxpayer will proceed with the upward revision of the initial Temporary Tax submitted for the year 2022, such revision can be created through...Read More
On the 22nd of February 2021, the House of Representatives passed a law levying a 0.4% tax on all sales of immovable property, the proceeds of which to go toward supporting Greek Cypriot refugees. The law provides for a tax on any sale or other type of transfer of land and real estate. In addition,...Read More
On the 24 th of March 2022 the Parliament of Cyprus has voted a 4 month extension to the deadline for the submission of the 2020 Income Tax Returns (Form TD 4) for Companies and Individuals (Form TD 1) who have an obligation to prepare audited financial statements. Based on the laws voted by the...Read More
