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Employment Law Update: Directive (EU) 2019/1158 on work-life balance for parents and carers

Employment Law, NewsBy Admin July 13, 2019

The Directive was published on the 12.07.2019 and comes into force on the 01.08.2019. The directive has to be implemented into national law by the 2.08.2022 at the latest.

The Directive “lays down minimum requirements designed to achieve equality between men and women with regard to labour market opportunities and treatment at work, by facilitating the reconciliation of work and family life for workers who are parents, or carers”.

Company Law Update: Registration of Charges

Company, NewsBy Admin March 16, 2019

The Registrar of Companies and Official Receiver announced on the 15.03.2019 that following clarifications received from the Attorney General regarding Article 90 of the Companies Law, Cap. 113, charges relating to the pledging of foreign share certificates or the charges resulting from them, will be accepted for registration as was the practice previously. The announcement…

Employment Law Update: ECJ – Workers must be able to carry over paid annual leave when an employer does not allow him to exercise that right

Employment Law, NewsBy Admin January 16, 2017

The ECJ decided that a worker must be able to carry over and accumulate rights to paid annual leave when an employer does not put that worker in a position in which he is able to exercise his right to paid annual leave.

Banking Law Update: New leasing law

Banking, NewsBy Admin May 16, 2016

The House of Representatives passed legislation regulating the provision of leasing services. The legislation has affect as of the 28.04.2016. The new legislation provides that, with limited exceptions, businesses providing leasing services must be authorised to provide such services. Businesses which: (a) do not deal with the public; or (b) whose principal business activity is…

Cyprus Tax Law Update: Amendments to Tax Legislation to Facilitate Loan Restructuring

News, Tax LawBy Admin January 4, 2016

In order to facilitate and encourage the restructuring of non-performing loans the Cyprus tax laws were amended to temporarily exempt loan restructurings from tax. The amendments are applicable up to 31.12.2017. The amending legislation was published in the Cyprus Government Gazette on 31.12.2015. The amendments affect the Income Tax Law; the Capital Gains Tax Law;…

Intellectual Property – Implementation of Directive 2011/77/EU

Intellectual Property, NewsBy Admin November 1, 2014

On the 16th of October 2014, the European Commission requested that Cyprus and Luxembourg fully implement Directive 2011/77/EU of the European Parliament and of the Council of 27 September 2011 amending Directive 2006/116/EC on the term of protection of copyright and certain related rights. The Directive extends the term of protection for performers and sound…

Corporate / Bank fraud, asset preservation and recovery

Banking, Litigation, NewsBy Admin September 9, 2014

Theodorou Law Firm is a Cyprus firm with experience in the successful resolution of substantial, complex and challenging disputes. In particular, we have experience in recovering, preserving and returning assets to clients’ which have been fraudulently transferred to third parties or funds transferred into third party bank accounts. With the proceeds of fraud being hidden…

Commercial Law Update: New legal framework for alternative investment funds in Cyprus

Commercial, NewsBy Admin August 26, 2014

Cyprus is one of the fastest growing European investment fund destinations. The major attractions for investors include the island`s established expertise being an international business centre, the competitive costs, a solid network of tax treaties, the strong ties to key markets such as Russia, the CIS, and CEE, it`s close proximity to the Middle East…

Tax Update: Cyprus and Switzerland sign new agreement for the avoidance of double taxation (DTA)

News, Tax LawBy Admin July 26, 2014

On the 25.07.2014 Cyprus and Switzerland signed an avoidance of double taxation agreement and relevant protocol. A Finance Ministry press release said, that the new agreement will contribute to further developing trade and financial relations between the two countries as well as with other countries. The ministry further stated that maintaining, updating and signing new…

Cyprus Property Law: Immovable Property Tax 2014

News, PropertyBy Admin July 24, 2014

The Cyprus Tax Department announced that the immovable property tax for the year 2014 must be paid until the 30th of November of 2014. If the tax is paid fully by the 31.10.2014, then the tax payer will receive a discount of 15% on the tax payable. Conversely, if the immovable property tax is paid…

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