English (United Kingdom)

The Hague Convention Abolishing the Requirement of Legalisation for Foreign Public Documents of 5 October 1961 (the “Convention”) is an international treaty drafted by the Hague Conference on Private International Law which brought about a basic simplification of the formalities for the legalisation of public documents outside of the countries from which they emanated. In the present article you can find out when and how the Convention applies, who can issue Apostilles, what the effect of an Apostille is and what you have to think about before requesting an Apostille.

According to recent amendments of Ras Al Khaimah Economic Zone (RAKEZ) Companies Regulations, please be informed that all RAKEZ licensed companies will now be required to submit audited financial statements on an annual basis.

Every company has to submit the audited financial statements to RAKEZ within six (6) months from the end of its financial year.

On the 5th of April 2019 Cyprus Parliament has amended the Income Tax Law (“the Law”) to implement the EU Anti-Tax Avoidance Directive (“ATAD”) which will impact Cyprus tax resident companies and permanent establishments (“PEs”) of non-Cyprus tax resident companies for tax years 2019 and onwards, on the following areas:

  • General Anti-Abuse rule (“GAAR”)

GAAR requires that, any arrangement which has been put into place for the main purpose or one of the main purposes of obtaining a tax advantage that defeats the object or purpose of the applicable tax law and which is not genuine having regard to all relevant circumstances, shall be ignored for the purposes of calculating the Cyprus corporate tax liability. An arrangement is non-genuine when it is not put into place for valid commercial reasons which reflect economic reality.

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CYPRUS TAX CALENDAR 2020 IN ENGLISH & GREEK