Green light for the next tranche to Cyprus
March 06, 2014
The European Stability Mechanism (ESM) will be approving the disbursement of the next tranche of 150 million euro to Cyprus, as after adopting a privatizations bill, all prerequisites agreed in its 10 million euro bailout program have been fulfilled.
Bank restrictions eased
February 24, 2014
Last Friday the Finance Ministry announced a further easing of the restrictions applicable up to now on bank transactions that were imposed by the Eurogroup last March.
Capital controls to be relaxed as Cyprus exceeds its targets
February 13, 2014
Finance Minister Harris Georgiades said last Tuesday that substantial relaxations to capital controls are expected in the coming week, as Cyprus surpassed the targets set in the bailout adjustment program and its banking sector is stabilising.
Third Positive Troika Evaluation Expected
February 07, 2014
Cyprus will not require any additional measures in relation to its bailout agreement in 2014, as per calculations of the Troika.
After yesterday’s meeting between representatives of the island’s international lenders and the House Finance Committee, they stated the economy will be 4.7% in 2014 but begin a recovery of 1% next year.
Amendments to Fiduciary Law Proposed
February 04, 2014
The Law regulating companies providing administrative services and related matters of 2012 (‘the ASP Law’), is currently being amended after a discussions between the Troika, the Ministry of Finance, the Cyprus Bar Association, the Institute of Certified Public Accountants of Cyprus (ICPAC) and the CySEC.
S&A Tax Seminar: Cyprus and Polish Tax Developments
February 03, 2014
Savva & Associates successfully delivered a high-level tax seminar on “Cyprus and Polish Tax Developments”, on January 22nd 2014, at the Intercontinental Hotel in Warsaw, Poland.
Cyprus and Qatar sign an Agreement
January 27, 2014
Cyprus and Qatar signed on January 26th, 2014, an Agreement and several Memoranda of Understanding during an official visit by President Nicos Anastasiades together with three ministers to Doha.