Iran’s renewable energy volume will increase to 700 – 850 megawatts (MW) during the current Iranian year (1396). Ninety percent of this capacity will be supplied from wind and solar farms. At the moment, Iran’s energy industry aim to supply 5 percent of the Iran’s electricity demand, from renewable energies. According to the renewable energy […]

The change of rules of fiscal transparency are showing their impact in the United Arab Emirates as well. Unlike until recently, banks in the United Arab Emirates started to ask for the tax IDs of the home country of shareholders or beneficial owners, as well as their passport copies and other documents. Personal presence of […]

The EBRD (European Bank for Reconstruction and Development) is going to held its 26th Annual Meeting and business forum in Nicosia, Cyprus. The event will be held from 9 to 11 May 2017. The main theme of this year’s business forum is “Targeting Green and Inclusive Growth: Meeting Regional and Global Challenges” which will involve […]

This article informs about necessary documents and information required for the opening of a bank account in Cyprus or elsewhere. Please note that this article provides information as per end of 2017/beginning of 2018. This article will be updated in July 2019. We often hear that some service providers like consultancy firms, corporate service providers, […]

Loans between related parties where a Cyprus Company is involved will now have to bear interest rates as per transfer pricing rules. The current practice of the minimum interest rate allowable by the Cyprus Tax Authorities on loans between related companies provided for an annual interest rate not lower than 0,35 %. It has been decided […]

Cyprus tax payers (individuals and companies) do now have the possibility of paying their delayed tax liabilities by long-term instalments. The new Law will refer to the possibility for applying taxpayers to arrange with the Tax Department the payment of taxes due (including penalties and interest) by instalments. The tax arrears must be settled to […]