Cyprus Compliance with the Foreign Account Tax Compliance Act


This intergovernmental agreement is activated between the Cyprus Government and the Government of the United States to improve the International Tax Compliance and implementation of FATCA – (Foreign Account Tax Compliance Act) and was signed on 2 December 2014. Under the Inter-Governmental Agreement all participating Cyprus financial institutions are required to report all FATCA related […]


Cyprus – Interesting tax changes on the horizon


Yesterday the Cyprus government announced a major tax reform aimed at significantly modernising and strengthening our domestic tax system. Cyprus President, Nicos Anastasiades, confirmed this week at the 54th Annual General Assembly of the Institute of Certified Public Accountants of Cyprus (ICPAC) that a series of new tax measures were ratified by the Council of […]


Cyprus: Insolvency Framework


The six pieces of legislation forming the Insolvency Framework came into force on May 7, 2015, day of its publication in the Official Gazette [five laws and a regulatory administrative acts (regulations)]. Those provisions have been passed by the House of Representatives on April 18 2015. The following came into force: The Insolvency Individuals (Personal […]


Tax Avoidance Strategies in the European Union


While the formation of the EU brought unity to its member nations in a number of ways, there still remains a substantial difference between the laws of those member nations which include tax avoidance strategies in the EU making them vary by country. It is a well-known fact that some offshore tax haven countries have streamlined taxation […]


Tax Avoidance Vs. Tax Evasion


Take the Legal Route to Reduce Taxes When owning your own business, you most definitely have the right to organise it in such a way, ensuring you do not have to pay any more taxes than necessary. This strategic plan, known as tax avoidance, involves using legal means to reduce taxes and is the practice […]