CONTENTS OF LAST ISSUE
News
December 23, 2022
CIRCULARS CIF: C543 to Cyprus Investment Firms – Country Analysis Form (Form CA-CIF) – 31/12/2022 Submission CySEC – Latest Entries#DocumentsAndArticlesDropDownListHolder, .CMSBreadCrumbsCurrentItem, .PageTitles{ visibility:hidden !important; display:none !important; } [...]
December 23, 2022
CIRCULARS CIF: C542 to Cyprus Investment Firms – Quarterly Statistics (Form QST-CIF) – 31/12/2022 Submission CySEC – Latest Entries#DocumentsAndArticlesDropDownListHolder, .CMSBreadCrumbsCurrentItem, .PageTitles{ visibility:hidden !important; display:none !important; } [...]
December 20, 2022
UK cites security risk as it orders sale of Russian-backed broadband provider FTThe British government has ordered the sale of Upp, a regional broadband provider owned by oligarch-backed investment company LetterOne, citing concerns around national security. LetterOne acquired Upp in 2021 as part of a £1bn plan to build a regional British broadband networ [...]
December 09, 2022
Total loosens Russian ties with Novatek writedown FTTotalEnergies has moved to further loosen its ties with Russia more than nine months after the invasion of Ukraine, taking a $3.7bn writedown on its stake in Novatek and removing its directors from the board of the gas producer even as it holds on to the investment. The Frenc [...]
December 08, 2022
CIRCULARS CIF: C539 to Cyprus Investment Firms – Cross Border Reporting Template (CBRT-CIF) – 31/12/2022 Submission – Further Clarifications CySEC – Latest Entries#DocumentsAndArticlesDropDownListHolder, .CMSBreadCrumbsCurrentItem, .PageTitles{ visibility:hidden !important; display:none !important; } [...]
December 06, 2022
EU to propose sanctions on Russia’s mining industry FTThe European Commission will propose a ban on new investments in Russia’s mining sector as part of a fresh package of sanctions against Moscow aimed at further eroding the country’s economy and the Kremlin’s ability to fund its [...]
December 02, 2022
BOARD DECISIONS: CySEC Decision for the withdrawal of authorisation of Investment Compartment REFALCO CYPRUS INVESTMENT OPPORTUNITIES FUND CLASS A INVESTMENT SHARES (EUR) DISTRIBUTING (RAIF21_1) CySEC – Latest EntriesAnnouncement Date: [...]
December 01, 2022
European Commission proposes international tribunal to prosecute Russia war crimes in Ukraine JURIST – News – Legal News & CommentaryEuropean Commission President Ursula von der Leyen Wednesday announced a series of options to hold Russia accountable for its [...]
November 30, 2022
CIRCULARS CIF: C537 to Cyprus Investment Firms – Cross Border Reporting Template (CBRT-CIF) – 31/12/2022 Submission CySEC – Latest Entries#DocumentsAndArticlesDropDownListHolder, .CMSBreadCrumbsCurrentItem, .PageTitles{ visibility:hidden !important; display:none !important; } [...]
January 12, 2022
OECD has released Global Anti-Base Erosion Model Rules (Pillar Two)The OECD has released Global Anti-Base Erosion Model Rules (Pillar Two), the part of BEPS 2.0 Project, on their website on 20 December, 2021.
November 03, 2021
BOARD DECISIONS: CySEC Decision for the withdrawal of AIFLNP authorisation of RAM CYPRUS INCOME FUND LTD CySEC – Latest EntriesAnnouncement Date: [...]
September 30, 2021
CIRCULARS CIF: C470 to Cyprus Investment Firms – Quarterly Statistics, Form QST-CIF – Revised Form CySEC – Latest Entries#DocumentsAndArticlesDropDownListHolder, .CMSBreadCrumbsCurrentItem, .PageTitles{ visibility:hidden !important; display:none !important; } [...]
September 28, 2021
Mishcon Forms Association With Hong Kong Firm, Bolstering Asia Investment Law.comLondon-based Mishcon de Reya has launched its second international office in Hong Kong, a little over a year after its overseas debut in Singapore. The firm has entered into an association with Hong Kong disputes and investigations [...]
September 24, 2021
Russian Gas Firm Executive Arrested in U.S. on Tax Charges WSJ.com: World NewsThe U.S. has arrested a high-profile executive of a major Russian gas company on federal tax-evasion charges related to what federal officials said were violations that spanned more than a decade. The arrest of Mark Gyetvay, the deputy chairman of the management board of Novat [...]
September 24, 2021
US arrests finance chief of Russian natural gas group Novatek FTNewsletter: Europe Express Your essential guide to what matters in Europe today. Delivered every weekday. The US has arrested one of the most influential executives in Russia’s natural gas industry o [...]
September 11, 2021
Afghanistan dispatches: ‘Terrible changes and disasters have come upon society.’ JURIST – News – Legal News & CommentaryJURIST EXCLUSIVE – Law students and lawyers in Afghanistan are filing reports with JURIST on the situation there after the fall of Kabul to the Taliban. Here, a female law graduate in Kabul offers her observations and perspective. For privacy and security reasons we are withhol [...]
June 11, 2021
EU Commission advances legal action against Malta and Cyprus over passport for investment scheme JURIST – News – Legal News & CommentaryThe European Commission on Wednesday advanced its infringement proceedings against the EU island states of Cyprus and Malta over their [...]
May 27, 2021
US House Foreign Affairs Committee chair introduces diplomacy act to challenge China JURIST – News – Legal News & CommentaryChairman of the US House of Representatives Foreign Affairs Committee Gregory Meeks (D-NY) introduced a bill on Tuesday to reinvigorate American leadership and engagement to respond to challenges presented by the People’s Republic of China. The [...]
May 26, 2021
DOJ releases part of Russian probe internal memo, seeks to block release of full document JURIST – News – Legal News & CommentaryThe US Department of Justice (DOJ) on Monday released a part of an internal memo that was used in 2019 by former Attorney General William Barr in his decision not to prosecu [...]
May 25, 2021
UN demands immediate release of Belarusian journalist and girlfriend after forced aircraft landing JURIST – News – Legal News & CommentaryThe UN Office of the High Commissioner for Human Rights (OHCHR) has demanded the immediate release Tuesday of Belarusian journalist Roman Protasevich and his girlfriend Sofia Sapega aft [...]
May 25, 2021
US Secretary of State condemns Belarus’ Lukashenko over journalist arrest JURIST – News – Legal News & CommentaryUS Secretary of State Antony Blinken condemned the actions of Belarus President Alexander Lukashenko Sunday in detaining opposition journalist Roman Protasevich. Lukashenko’s s [...]
May 10, 2021
Amnesty reinstates ‘prisoner of conscience’ status for Alexei Navalny JURIST – News – Legal News & CommentaryAmnesty International on Friday announced its decision to re-designate Alexei Navalny, one of Russian President Vladimir Putin’s most prominent opposition criti [...]
April 23, 2021
Leaked documents expose loopholes in Malta cash-for-passports scheme JURIST – News – Legal News & CommentaryLeaked documents Wednesday exposed Malta’s cash-for-money scheme, which provided loopholes for Chinese, Saudi and Russian millionaires to attain EU passports. The documents were exposed by the Daphne Caruana Galizia Foundati [...]
January 22, 2021
Cyprus: the deadline for the introduction of a fine for late filing of a declaration on the HE32 form has been postponedThe Registrar of Companies of Cyprus announced the postponement of the introduction of a fine for late filing of a declaration on the HE32 to the 1 of April 2021.
January 20, 2021
Electronic Register of Beneficiaries in Cyprus: start date of collection of information of beneficiaries has been postponedRegistrar of Companies of Cyprus informed that the start date of data collection of companies is postponed to 22 of February 2021.
January 19, 2021
Cyprus Authorities presented the new portal for online payments of the social insurance contributionsCyprus Authorities presented the new portal for online payments of the social insurance contributions - SIS net use of which will be mandatory starting from January 25.
December 23, 2020
Electronic Register of Beneficiaries in CyprusThe Council of Ministers of Cyprus on 16/12/2020 decided to Appoint the Registrar of Companies and Official Receiver, as the competent authority for the maintenance of the central Register of Real Beneficiaries of the companies and authorized it to collect information about the actual beneficiaries of companies and other legal entities through the system developed.
October 07, 2020
EU list of non-cooperative jurisdictions for tax purposes was updatedCayman Islands and Oman were removed from the list of non-cooperative jurisdictions, Barbados and Anguilla were added in their place.
September 16, 2020
Corporate administrators can provide a new type of serviceThe Law Regulating Companies Providing Administrative Services and Related Matters of 2012 (the Law) has been further amended on 17/08/2020.
August 14, 2020
Russia and Cyprus: Tax Agreement on New TermsOn August 10, as part of the negotiations, Cyprus agreed to new conditions that provide for withholding tax at the sources of payment at the rate of 15% for dividends and interest paid from the Russian Federation.
August 10, 2020
Tax Residency in 90 DaysAt the beginning of the pandemic, the Organization for economic cooperation and development recommended that countries change their legislation so that isolation does not affect tax residency.
July 14, 2020
The OECD has published the results of automatic exchange of information on financial accounts in 2020The CRS requires countries and jurisdictions to exchange information about non-residents' financial accounts received from their financial institutions annually, which reduces the probability of tax evasion in offshore zones.
July 10, 2020
Cyprus: Since 1 of July Contributions to the GESY Fund Have IncreasedFrom March 1, 2020, contributions to the Fund of the state health insurance system of Cyprus GESY were supposed to grow as part of the second stage of the reform of this system.
June 26, 2020
Cyprus: Changes in the Rules of Notional Interest DeductionOn June 16, 2020 the Cyprus Government Gazette published amendments to the Cyprus Income Tax Law (ITL) (Law 66 (I)/2020) concerning the rules for deducting conditional interest (notional interest deduction – NID).
June 10, 2020
Cyprus Government continues to actively support businessIn Cyprus, the process of gradual lifting of restrictive measures began in May. But Cyprus Government maintains and extends measures to support businesses and citizens.
May 21, 2020
The European Commission steps up fight against money laundering and terrorist financingThe Commission has published a comprehensive Action Plan on its official website, which sets out concrete measures on combating money laundering and terrorist financing.
May 18, 2020
CRS and FATCA: extension of reporting deadlinesIn 2020, the deadlines for submitting financial statements in accordance with CRS and FATCA standards has changed.
May 08, 2020
CySec: Changes of the Due Date for Some Obligations in CyprusThe financial regulatory agency of Cyprus (CySec) has changed some due date obligations for issuers, providers and funds: The due date for the obligation of issuers to publicise the annual financial statements for 2019, is postponed for the 30 of June 2020. The due date for [...]
April 30, 2020
Communication tools with Korpus Prava specialistsCurrently, when most of us work remotely, we would like to inform you once again that all specialists of Korpus Prava remain in touch.
April 15, 2020
Professional consulting support of our specialistsTaking into account the current situation, our clients have a lot of different issues that require professional consulting support on-line.
April 13, 2020
Communication tools with Korpus Prava specialistsCurrently, when most of us work remotely, we would like to inform you once again that all specialists of Korpus Prava remain in touch.
March 17, 2020
The Concept of Tax Monitoring Development Was ApprovedThe Russian government has approved the concept of developing a tax monitoring system.
March 03, 2020
Antitrust Compliance in RussiaOn March 1, 2020, the President of the Russian Federation signed the Federal law "On Antimonopoly compliance", which provides for amendments to law No. 135-FZ "On protection of competition".
February 17, 2020
OECD has published a consultation document on the review of Country-by-Country ReportingOECD released public consultation document that is based upon the mandate set out in the BEPS Action 13 report, and focuses on issues concerning the use of CbC reports by tax administrations for the purposes of a high level transfer pricing risk assessment. The public consultation document [...]
January 24, 2020
Professional Tax – new tax for Cyprus companiesAt the end of 2019 Cyprus municipalities introduced a new tax for Cyprus companies called Professional Tax.
December 18, 2019
New penalties for late submission of HE32As we reported earlier, the Cyprus Registrar of Companies has introduced new penalties for the late submission of the Company Annual Return (HE32), effective from the 18th of December 2019. Please note that the deadline for submission of Company Annual Return (HE32) was extended until A [...]
December 04, 2019
Seminar “Cyprus-Russia” was held on November 28 in LimassolLast week in Cyprus was held a seminar "Cyprus today: is the harbor safe in an era of global economic climate change".
December 03, 2019
Happy Lawyer’s Day!December 3 is the lawyer's day in Russia. Congratulations to our colleagues on their professional holiday!
November 28, 2019
Corporate changes on CyprusAs of 18/12/2019, further penalties shall apply with regards to the submission of the following Notices to the Department of Registrar of Companies and Official Receiver: Notice of change of Registered Address (HE 2): Every submission beyond the time-frame prescribed by t [...]
May 15, 2019
On 13-14 of May in Cyprus took place The 5th BEST INVEST CongressOn Tuesday, May 14 was the 2nd and final day of the investment Congress BEST INVEST 2019, dedicated to investment issues, and also to Russian-Cyprus cooperation. On May 13, a seminar on the problems and opportunities of doing business in Cyprus and Russia was held within the framework of th [...]
April 23, 2019
As part of AI’s 2019 Leading Adviser Awards Korpus Prava has been recognised as Leading International Tax Planning Lawyer of the Year in RussiaIn 2019 Korpus Prava was recognized as a Leading Law Firm in the field of International Tax Planning in Russia.
March 04, 2019
Korpus Prava has been chosen as a winner at the category – Corporate Law Firm of the Year in Russia – 2019Korpus Prava has become a winner at the category - Corporate Law Firm of the Year in Russia.
February 24, 2019
Amendments to Cyprus Company LawThe Cyprus Department of Registrar of Companies and Official Receiver (ROC) announced amendments to the Cyprus Company Law.
