On the 8th May 2018, the finance ministers of Luxembourg and Cyprus signed the Double Taxation Avoidance Agreement between the two countries. The new Agreement is expected to come into force as from 01/01/2018 with the aim to strengthen and expand the commercial ties between the two Member States.
The Agreement echoes all the required international standards as provided by the Base Erosion and Profit Shifting (“BEP”) recommendations in respect of the exchange of information, providing thus greater level of legal certainty and predictability.
The Agreement provides, inter alia, for the following:
Dividends: 0% withholding tax if there is at least 10%...
In preparation for the entry into force on 3 January 2018 of the European Securities and Markets Authority’s guidelines for the assessment of knowledge and competence, set out in its publication ESMA/2015/1886 dated 17 December 2015, the Cyprus Securities and Exchange Commission (CySEC) has published circular C-181 assisting Cyprus Investment Firm (“CIFs”) to meet their obligation to act in the best interests of their client when providing information
n concerning the services and instruments offered.
Circular 181 (“the Circular”) applies to anyone, including employees and tied agents of CIFs, who communicates with CIF clients (existing and potential cli...