• January 9, 2025
• Stephanos Ayiomamitis

In a significant ruling (C-60/23), the European Court of Justice (ECJ) has provided clarification on the VAT treatment of electric vehicle (EV) charging services, a decision that has wide-reaching implications for businesses in the electric vehicle ecosystem, particularly those involved in charging services. The case concerned whether the supply of electric energy for the purpose of charging electric vehicles should be treated as a supply of electricity subject to VAT exemptions or reduced rates, in accordance with EU VAT rules. This ruling provides much-needed guidance for businesses and authorities in understanding how VAT applies to this rapidly growing sector, with particular relevance to the evolving legal landscape in Cyprus.

• September 13, 2024
• Savvas Savvides

From Cyprus to Australia, from Australia to London and from London to Greece, the struggle for the return of the Parthenon Marbles continues unabated. The impact that the initiative of the law firm, Michael Kyprianou & Co LLC, for the return of the Marbles is now unprecedented, with teams having been set up, both Cypriots and Greeks, who are now working tirelessly at the legal level to achieve the goal.

The legal campaign at international level on the issue was initiated by Savvas Savvides, a Senior Partner of the Michael Kyprianou law firm, and the dedication and intensive work of these teams is commendable and truly impressive. Emails and messages of support are being received from every corner of the world, which is most heartwarming. Despite any differences in views on the solution that could be found, these are being put aside and the focus is on a common goal: the return of the Marbles to the Parthenon.

• January 23, 2025
• Rafaela Vasileiadou

Cyprus has emerged as a leading jurisdiction for international investment, primarily due to its tax regime, which is one of the most favorable within the European Union. A cornerstone of this advantageous tax framework is the Republic of Cyprus’ extensive network of Double Taxation Treaties (DTTs). Over the years, Cyprus has entered into a wide range of DTTs with countries across Europe, the Middle East, and Asia, further solidifying its position as a strategic hub for global investment.

• December 20, 2024
• Lorena Charalambous

The Council of Ministers of Cyprus has approved a number of revisions to the existing start-up visa scheme, with a goal of making it more attractive for talented entrepreneurs from third countries, to enter, reside and work in Cyprus in order to establish and operate a start-up.

• January 3, 2025
• Stephanos Ayiomamitis

On December 12, 2024, the Cyprus Parliament approved the domestic bill entitled The Global Minimum Tax Assurance for Multinational Enterprise Groups and Large-Scale Domestic Groups in the Union Act of 2024. This law transposes the EU Council Directive 2022/2523 of December 14, 2022, establishing a framework for imposing a minimum effective tax rate of 15% on multinational enterprises (MNEs) and large-scale domestic groups with annual consolidated revenues exceeding €750 million. Known as the EU Pillar Two Directive or the GloBE (Global anti-Base Erosion) Directive, this legislative measure (the “Pillar 2 Directive”) aims to curb profit-shifting practices and ensure fairer taxation.

The law will come into force for fiscal years starting on or after December 31, 2023, marking a crucial step in Cyprus’s adherence to international tax reforms.