Archive for Tag: Cyprus Legislation

Non-Performing Loans: Where is the Middle Ground for Cyprus Lenders?

  A significant repercussion from Cyprus’ 2008 financial crisis was the recent closure of the Co-operative bank; due in part to the strict punishments enforced by the Cypriot authorities, the bank was famously unable to recover financially and filed for bankruptcy. Mr Kyrytopoulos Konstantinos, a Finance Professional from the...

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Cyprus 2018: Charging VAT on the Sale of Land by Individuals Conducting Economic Activities

As per the amendments to the Cyprus VAT Law N.95(I)/2000, authorities in Cyprus now imposes VAT to be charged on all sales of undeveloped building land by individuals exercising economic activities. What constitutes economic activities? Article 3 of the aforementioned VAT Law, precisely states business to mean any economic...

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