In order to accommodate new initiatives in the field of tax transparency at the level of EU, the EU Council adopted on the 25th of May 2018 the Directive 2018/822/EU on Administrative Cooperation in Tax Matters (amending Directive 2011/16/EU) (the “Directive” or “DAC6”) under which EU intermediaries involved in cross-border arrangements are obliged to make...Read More
Wealthmore would like to inform of the following special measures announced by the Cyprus Government in order to support the country’s economy affected by the Coronavirus outbreak: I. Tax measures A two-month extension of the submission deadline of income tax returns that were due by 31 March 2020. The new submission deadline for the 2018...Read More
In the context of the measures taken by the government to support companies and businesses affected by the restrictive anti-COVID-19 measures, the Department of Registrar of Companies announces as follows: I. Suspension of de-listing procedures: The publication of three-months notices about the delisting of non-compliant companies in the Official Gazette of the Republic is suspended until January 2021. II. Payment...Read More
On 7 February 2020, the Health Insurance Organization (“HIO”) in exercising the powers conferred to it by the General Health System Legislation (“The Law”) has issued instructions in relation to refunds on GHS Contributions. These instructions lay down the procedure for requesting a refund on GHS contributions paid in excess of the maximum amount on...Read More
Over the past twenty years, Cyprus has developed into one of the most favourable places for international business. The key factors are the low tax regime, its ability to offer sophisticated planning structures, its effectiveness to set up and manage collective investments schemes, the enactment of the Cyprus International Trusts Law and its excellent geographical...Read More
Wealthmore continues to monitor developments as they unfold, with focus given to the advice issued by national and local governments and the World Health Organisation. We have well-developed business continuity plans in place that will ensure continued support to our clients throughout these unprecedented times. Mindful of the need to support the advice being issued,...Read More
