On 1 January 2019, the EU Member States shall initiate the procedure to apply new anti-abuse measures in the areas of corporate tax planning which is practised mostly by large multinational entities. The new EU anti-abuse measures build on the standards developed by the Organisation for Economic Co-operation and Development (OECD) on Base Erosion and Profit Shifting (BEPS) in 2015.

The new EU Rules target corporations which move to low-tax countries where the corporation does not have a genuine economic activity in that Member State. The new measures aim to discourage legal entities from using excessive amount of interest payments to minimise taxes. Fur...

January 8, 2019

On the 8th of January 2019, the Registrar of Companies, following the opinion of the General Attorney of the Republic of Cyprus, has issued an announcement regarding the Article 90 of Companies Law Cap. 113 (the ‘Cap 113’) in respect of the registration of the charges specified in the Article 90 2(a) with the Registrar of Companies.

The announcement states that the Registrar of Companies will not accept the registration of any charges regarding the pledging of company share certificates, assignment of rights deriving from company shares or any other charge on company share certificates, company shares or rights deriving from shares in companies and any...

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