News

May 13, 2015  Christos Patsalides LLC receives the Corporate Livewire Global Awards 2015 for Intellectual Property
Christos Patsalides LLC receives the Corporate Livewire Global Awards 2015 for Intellectual Property. The Global Awards honoured the firms who have demonstrated excellence over the past 12 months.
May 3, 2015  Christos Patsalides LLC Achieves Legal 500 3rd Tier Ranking
Christos Patsalides LLC achieved a 3rd Tier Ranking in the practice area of Intellectual Property, in the 2015 Legal 500 directory,for a third consecutive year.
December 20, 2012  Merry Christmas & a Happy New Year!!
Christos Patsalides L.L.C wishes everyone Merry Christmas and a Happy New Year !!!
August 1, 2012  We have been successfully chosen as the winner of the 2012 Corporate Intl Magazine Global Award: ‘International Tax Planning Law, Firm of the Year in Cyprus’
We have been successfully chosen as the winner of the 2012 Corporate Intl Magazine Global Award for the following category: ‘International Tax Planning Law, Firm of the Year in Cyprus’
July 10, 2012  ICPAC safeguarding the Cyprus Corporate Tax
During these difficult and critical for economy of the country times that we are facing, the Association of Certified Public Accountants of Cyprus does not remain indifferent and it expresses its views and suggestions. Due to the integration of our country in the European support mechanism and the descent of the echelon of the Troika, ICPAC gave noon press conference for his position. The President of the Association Mr. Theodore Parperis explained the need to preserve and protect the tax system and the corporate rate of Cyprus. It also indicated the large contribution to GDP in the services sector and attracting foreign investment and the need to strengthen the promotion of Cyprus as an international business services center. Date: 04/07/2012 published in in business We support any categorical way that safeguarding the stability of our tax system and the corporate tax rate to 10% one-way street. Possible changes are thinking out of the question. Otherwise, you open the bag of Aeolus with incalculable consequences for the economy and our society added.
July 9, 2012  Ministry of Finance - The corporate tax is non-negotiable!
The possibility of the amendment of the corporate tax in Cyprus as a measure that will be taken into consideration with the negotiations with TROIKA is not an option, according to the Ministry of Finance.
July 9, 2012  Cyprus will lead Europe through shaken waters..Jose Manuel Barroso stated
Cyprus is taking the helm of the council at a difficult moment for the European Union, stated the President of the European Commission President Jose Manuel Barroso, and stated that Nicosia will help lead Europe through the troubles that its facing.
July 5, 2012  At 10% the tax on betting – the Legal and Financial committees have concluded
10% Tax on net earnings of companies bettting and 3% levy for support of voluntary organuizations an programs for the protection of juveniles addicted to gambling, was decided on a joint session of the Legal and Financial Committees in relation to the issue of taxation of betting.
June 28, 2012  ICPAC demands the protection of the Cyprus Corporate Tax
Maintaining the current corporate tax rate of 10% should be preserved and protected as has been stated to the Cyprus News Agency, according to the CEO of the Institute of Certified Public Accountants of Cyprus Mr. Kyriacos Iordanou, in view of the negotiations that will start between Cyprus and the Euro Zone after a formal request for membership to the Support Mechanism European Union, adding that otherwise the damage would be enormous.
March 4, 2012  Cyprus refuses the ratification of the Anti - Counterfeiting Trade Agreement (ACTA)
Cyprus and Germany, Slovakia, Estonia and Netherlands have denied the signing of the Anti-Counterfeiting Agreement (ACTA).
November 24, 2011  Companies - Annual Corporate Levy - "Dormant Companies"
According to the interpretation of the Law, regarding to the obligation of payment of the corporate levy ' the dormant company' shall be interpreted in its broad meaning.
November 14, 2011  CIPA's Satisfaction for Cyprus Removal from 'Black List'
The Cyprus Investment Promotion Agency (CIPA) welcomes the decision of the Portuguese Ministry of Finance to remove Cyprus from the so-called "black list" of countries - Territories providing preferential and more favorable tax regimes. Indicating that this development further consolidates the position of Cyprus in the international investment map and opens the way for the advent of new investments, notes that Portugal is the second country after Italy, the last twelve months, making the removal of Cyprus from the so-called "black list".
November 10, 2011  General and Limited Partnerships and Trade Names Law (Co.) Chapter 116
General and Limited Partnerships and Trade Names Law, Cap.116 was amended on the 4th of November 2011 by the amendment Law No.146(I)/2011. Provisions of the Company Law Cap.113 in relation to the Annual Financial Statements and Financial Statements and Audit shall Apply to Partnerships ...
November 5, 2011  Electronic Signature - Company Law
With the amendment of the Cyprus Company's Law, Cap. 113, an electronic signature may be accepted by the Cyprus Company Registrar regarding all forms, certificates, minutes or any other documents which are presented or sent to the Company's Registrar for their Registration or Issuance by the Cyprus Company Registrar.
October 24, 2011  On the Spot Visits for the Verification of the Issuance of Invoices and Receipts and their Legality
The Inland Revenue informs the operators as well as the service providers (individuals and legal entities) that during 2011 and early 2012, representatives of the workers will conduct site visits with a view to checking the invoicing and collection of evidence and the legality, under current law the Department.
October 10, 2011  Tax- New Double Tax Treaty between Cyprus and Ukraine
The Government of the Republic of Cyprus and the Government of Ukraine, animated by the desire to secure and further strengthen friendly relations between the people of their two countries, concluded the agreement on economic, scientific, technical and industrial cooperation on the 4th of July 2011.
October 8, 2011  Planning Amnesty in Cyprus
Cypriot MPs voted in favour of a six-month extension to the period during which ‘Statements of Intent’ may be submitted under the provisions of the Town Planning Amnesty.
September 1, 2011  Accounting - Updating the Accounting Records
According to the amendments in the Cyprus Tax Law in December 2010, the accounting records of a company should be updated until the end of the fourth month following the month in which the transaction took place. The above requirement applies to companies as of 1st January 2011.
August 31, 2011  Company News - Payment of Company Annual Fees
It has been decided by the Registrar of Companies, that from now onwards, an annual fee will be imposed on all listed companies in Cyprus, in accordance with Article 391 of the Company Law Chapter 113 as amended by the N117 (I) of 2011.
August 26, 2011  Tax News - First Package of First Measures - 2011 New Tax Measures
On the 26th of August 2011, the House of Representatives voted as a first package of austerity measures a number of amendments to tax legislation for the purpose of raising revenues and decreasing government spending and for the objective of avoiding entry into the support mechanism.
July 14, 2011  CYPRUS CAPITAL GAINS REGULATIONS FOR THE DISPOSAL OF IMMOVABLE PROPERTY IN CYPRUS
The Cyrus Capital Gains Tax Regulations provide that for every sale of property in Cyprus Capital Gains Tax, must be paid. From this tax Cyprus Economy benefits about 250 mi Euros, every year. This Capital Gains Tax is paid of course by the Vendor. It is paid at the time of transfer of the property. No transfer of immovable property is allowed in Cyprus unless this Cyprus Tax, has first been paid!
March 24, 2011  Shipping News - The EU Approved New Cyprus Tonnage Tax System
The New Tonnage Tax system for Cyprus merchant shipping was approved by the European Commission on the 24th of March 2010 (Case N.37/2010), as compatible with the requirements of the EU acquis in accordance with the relevant guidelines on State Aid to Maritime Transport.