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Elias Neocleous & Co LLC | Cyprus | 24 Aug 2021

Human rights versus public health: preliminary assessment by Cypriot court

A first-instance court recently ruled on whether the obligation for Cypriot citizens to show a "safe pass" before entering specific premises was a breach of their core constitutional rights. This is the first time since the start of the covid-19 pandemic that a Cypriot court has been called on to balance the constitutional validity of restrictive measures, brought in to prevent the spread of......
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Elias Neocleous & Co LLC | Cyprus | 21 Jul 2021

Cyprus – leading the way to top quality standards for seafarers

Seafarers have played a vital role in keeping supplies flowing throughout the past 18 months, yet many states still fail to recognise them as "key workers". In February 2021 the Cyprus Shipping Chamber, along with many international stakeholders, became a signatory to the 2021 Neptune Declaration, which principally called on all governments to echo the actions of the Cyprus government that......
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Elias Neocleous & Co LLC | Cyprus | 20 Apr 2021

Annulment of Ministry of Transport decision on concession contract provides clarity to tender parties

The Administrative Court recently annulled a Ministry of Transport decision which had awarded a concession contract to Intercity Buses. This comes after another court annulled the ministry's decision to award another concession contract to a consortium. The Ministry of Transport's pending appeal against the earlier court decision had a catalytic effect on the judgment of the Administrative Court.
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Elias Neocleous & Co LLC | Cyprus | 16 Feb 2021

Widow's pension: unequal treatment and discrimination on grounds of gender

The Administrative Court recently ruled in a case concerning the differentiation in treatment, by law, between women and men of deceased spouses. The court held that the rejection of a man's application for a widower's pension was based on a legislative provision which was directly discriminatory against men, in that it treated men substantially differently to women by making the granting of......
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Elias Neocleous & Co LLC | Cyprus | 1 Feb 2021

Cyprus launches UBO register

Cyprus has elevated its ultimate beneficial owner (UBO) reporting status by implementing all of the mechanisms for the creation, operation and maintenance of a UBO register. The UBO register is a requirement emanating from the amended Fourth EU Anti-money Laundering Directive, which was transposed into national legislation in 2018. According to a recent announcement by the Companies Registrar......
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Elias Neocleous & Co LLC | Cyprus | 20 Jan 2021

Expatriate relief for lower employment income earners officially extended

The House of Representatives recently voted into law an amendment to the Income Tax Law which extends the 20% deduction previously available to expatriates who earned an annual gross employment income of less than €100,000 for an additional five years. Additionally, a provision has been inserted to ensure that the relief will apply to qualifying persons for five years from the start of......
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Elias Neocleous & Co LLC | Cyprus, OECD | 4 Dec 2020

Tax Department clarifies tax status of permanent establishments and legal persons during COVID-19 pandemic

The COVID-19 pandemic has led to the imposition of various measures on a global scale which have inevitably put restrictions on the physical presence of persons at their workplaces. This has raised concerns in relation to the permanent establishment of businesses and the tax residence status of legal persons. The Organisation for Economic Cooperation and Development recently issued general......
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Elias Neocleous & Co LLC | Cyprus | 11 Nov 2020

Arrest of ships and orders prohibiting dealings with Cyprus-registered ships

The admiralty division of the Supreme Court recently issued a judgment confirming that a warrant of arrest may be issued only in in rem proceedings against a vessel itself. The case concerned a dispute of the company shareholders which owned the Cyprus-registered vessel Mediterranean Diamond. The sole defendant in the proceedings was the shipowning company.
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Elias Neocleous & Co LLC | Cyprus | 21 Oct 2020

Entry into force of amendments to Code of the Maritime Labour Convention

The Shipping Deputy Ministry recently issued Circular 20/2020, notifying interested parties of the entry into force of the 2018 amendments to the Code of the Maritime Labour Convention 2006. The amendments will enter into force on 26 December 2020. In essence, the amendments aim to provide additional protection to seafarers in the event that they are held captive as a result of acts of piracy......
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Elias Neocleous & Co LLC | Cyprus, Russia | 16 Oct 2020

Protocol amending Cyprus-Russia double tax treaty ushers in new era

Cyprus and Russia recently signed a protocol amending the double tax treaty (DTT) between the two states. Businesses in Cyprus that will be subject to the protocol are advised to review their corporate structures and assess what impact, if any, the DTT changes will have on their overall effective tax exposure.
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