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 […]


Cyprus has still no sign of the ‘Lagarde list’


France has repeatedly been asked by the Cypriot Government to hand over a list of suspected Cyprus-based tax evaders. The requests to date have still not been met with success as told by the Cyprus Finance Minister. The Finance Minister Harris Georgiades told MPs that since March 2013, Nicosia on several occasions has asked Paris […]


Cyprus: Enquiry into Petroleum-related products


On 17 December 2014, the Commission for the Protection of Competition had announced on its official website that it would proceed with a sector enquiry regarding the petroleum products sector, pursuant to the newly introduced Section 32A of the Protection of Competition Laws 2008 and 2014. The announcement stated, among other things, that the common […]


European hedge funds shut down at record pace


Hedge funds in Europe are closing down at the fastest-ever pace as rising costs, weak performance and a slowdown in the pace of new investment leads some embattled founders to bail out. Statistically four in every 10 funds which closed last year were in Europe, home to a large number of smaller funds, as the […]


Cyprus: Investment fund landscape


With reference to the regulatory categorisation of investment funds in the European Union, investment funds are categorised as either an undertaking for collective investment in transferable securities otherwise abbreviated as (UCITS) or alternative investment funds (AIFs). In Cyprus, a ‘UCITS’ is defined in the Law on Open-Ended Undertakings for Collective Investment (UCI Law) (78(I)/2012), which […]