The CySEC’s policy statement set out detailed requirements for crypto firms seeking registration in the regulator’s CASP register. This register is publicly accessible and include information such as the crypto firm’s name, the legal form, its address and services. The new policy also introduces a definition for crypto assets that slightly extends beyond its traditional...Read More

The Ministry of Labour, Welfare and Social Insurance has recently announced amendments in relation to the Social Insurance Regulations, that went into force on 13 September 2021. The main amendments are the following: The application for registration of an employer should be submitted no later than one (1) day before the date that the applicant...Read More

Legislation Regulating the Settlement of Overdue Tax Debts Details on the Amending Law Regulating the Settlement of Overdue Tax Debts have been provided, in a Decree published in the Official Gazette published dated 23 July 2021. Online application The application for inclusion in the Scheme should be submitted through online application on Ariadni Government Portal,...Read More

Exemption from the obligation to submit an income tax return On the 9th of July 2021, the official Gazette of the Republic of Cyprus has published the decision of the Council of Ministers of Cyprus, whereby a decree (No.288/2021) was issued exempting natural persons, whose total gross annual income is below €19.500, from the obligation to submit...Read More

CySec – Update on Cryptocurrencies The Cyprus Securities and Exchange Commission (The ‘CySEC’) has recently issued a Directive (R.A.D. 269/2021) in order to provide guidance for the registration and operating conditions of providers of services related to crypto assets pursuant to the 5th Anti-Money Laundering Directive. Additionally, it has also decided that Cyprus CASPs should...Read More

Tax Update – Ukraine Legislative Changes During 2020, several laws of Ukraine have been amended in order to align the tax legislation with OECD’s Anti-BEPS initiative. Amongst the changes introduced, the Parliament of Ukraine amended the Tax Code of Ukraine Purposed to Improve the Administration of Taxes, Eliminate Technical and Logical Inconsistencies in the Tax...Read More

Deadline extension for the Submission of 2020 tax returns Please be informed that an amendment to the Assessment and Collection of Taxes Law has been voted and published in the Official Gazette of the Republic on 20 April 2021. In accordance with this amendment, the following deadlines have been extended to 30 September 2021: Electronic...Read More