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LEGAL UPDATES
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17.11.2017
Employment Law Updates
Employment and Immigration Law
Surrogacy and Maternity Leave
The Protection of Maternity of 1997 (L.100(I)/1997) was recently amended so as to include the concept of surrogacy.
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24.07.2017
Law on Actions for Damages for Infringements of Competition law 113(I)/2017
Competition Law

On 21 July 2017, Law Ν. 113(I)/2017 on Actions for Damages for Infringements of Competition  Law came into force, following its publication in the Official Gazette of the Republic of Cyprus. The law in question transposes into Cyprus law Directive 2014/104/EU of the European Parliament and of the Council of 26 November 2014 on certain rules governing actions for damages under national law for infringements of the competition law provisions of the Member States and of the European Union.

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17.07.2017
Amendment to the Individual Tax Residence Rule
Taxation Law

On 14 July 2017 the Cyprus Parliament voted to amend the individual tax residence rule, under which individuals can now be held to be tax resident, even if they reside in Cyprus for less than 183 days.

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21.03.2017
Actions for Damages for Infringements of the Competition Law of 2017
Competition Law
An important bill entitled “Actions for Damages for Infringements of the Competition Law of 2017” is currently pending before the Parliamentary Committee on Energy, Commerce, Industry and Tourism. The said bill aims to transpose the provisions of Directive 2014/104/EU of the European Parliament and of the Council of 26 November 2014 on certain rules governing actions for damages under national law for infringements of the competition law provisions of the Member States and of the European Union (“Competition Damages Directive”) into national law. read more
10.02.2017
Tax Update – Intention to abolish back to back profit margins
Taxation Law

On 8 February 2017, the Cyprus Tax Department indicated the intention to abolish the current tax legislation which requires minimum profit margins on loan transactions of a Cypriot resident company to and from related companies, in light of international tax developments, such as the OECD/G20 BEPS Project.

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