Cyprus News & Insights
Latest from Cyprus — Tax, Corporate, Sanctions & Compliance
Curated short briefings on the developments that matter to founders, investors and multinational groups operating in Cyprus.
Sanctions & AMLThe Financial Action Task Force (FATF) has initiated a public consultation to gather feedback on new guidance aimed at supporting the implementation of its updated Recommendation 16 for payment transparency. These revised standards, agreed upon in June 2025, are designed to modernize the international payment system, make cross-border transactions more transparent, and introduce measures against fraud, with a full global implementation expected by the close of 2030.
Sanctions & AMLThe Financial Action Task Force (FATF) recently published reports highlighting financial crime risks. One report focuses on the misuse of stablecoins, particularly through peer-to-peer transactions via unhosted wallets, and suggests ways for countries and the private sector to strengthen financial system controls. Another publication addresses cyber-enabled fraud, noting its status as a prevalent profit-driven crime generating substantial illicit funds globally.
Sanctions & AMLThe Financial Action Task Force (FATF) President, Elisa de Anda Madrazo, emphasized an inclusive approach to financial integrity during her address at the G20 Finance Ministers and Central Bank Governors Meeting. She stressed that upholding financial integrity should not conflict with financial inclusion, noting that excluding people from the formal financial system can lead to increased risks as individuals turn to unregulated channels. Madrazo outlined the FATF's strategies, including reinforcing risk-based approaches with simplified due diligence and updating standards to foster faster, more secure cross-border payment systems leveraging new technologies and collaborative efforts.
Cyprus TaxCyprus's Minister of Finance, representing the President, recently spoke at the annual general meeting of the Association of Cyprus Banks. The Minister highlighted the country's economic stability and robust growth, noting that the banking sector is well-capitalized to handle current developments, including the nation's role in the EU presidency during the first half of 2026. The address emphasized the government's fiscal responsibility and its positive impact on key economic indicators.
Cyprus TaxThe Ministry of Finance announced the completion of the 2026 Article IV Consultation by the International Monetary Fund (IMF). The IMF noted Cyprus's economic resilience, strong growth, and stable fundamentals despite challenges. Recommendations include gradual fiscal relaxation, focused on quality investments and efficiency, alongside reforms to boost productivity and ensure financial stability, such as an effective judicial system and improved labor force skills.
Cyprus TaxThe Ministry of Finance in Cyprus has updated its news section, listing several announcements and speeches from June 2026. Topics include the conclusion of the 2026 Article IV Consultation by the International Monetary Fund, various addresses by Minister of Finance Makis Keravnos, and the signing of double taxation agreements.
Cyprus TaxThe Cyprus Tax Department has issued a document providing instructions on a centralized filing procedure. This guidance pertains to submissions related to both EU member states and non-EU countries, streamlining the process for relevant entities.
Cyprus TaxThe Cyprus Tax Department has published an announcement regarding individual income tax declarations. This document provides guidance and information for taxpayers on fulfilling their income tax obligations.
Cyprus TaxThe Cyprus Tax Department has issued an announcement concerning the declaration of individual income. This notice provides information related to personal income tax obligations.
Cyprus TaxDeloitte Cyprus has released its annual 'Cyprus Tax Facts' publication for 2025. This resource provides current and comprehensive tax information for taxpayers in Cyprus. The publication is available in both Greek and English.
Cyprus TaxDeloitte Cyprus provides an online form on its website for individuals and organizations interested in requesting proposals for professional services. The form gathers necessary contact and company information, allowing potential clients to specify their needs and attach relevant documents. This ensures that only qualified requests for proposals are submitted to Deloitte Cyprus.
Cyprus TaxDeloitte Cyprus provides a contact form for inquiries across various topics, including services, careers, and events. The form requires personal details such as name, email, company, and location to facilitate communication.
GeneralDuring a farewell meeting, Portugal's outgoing ambassador to Cyprus, Vanda Sequiera, assured House President Annita Demetriou of Portugal's continued support for Cyprus. Demetriou thanked Sequiera for her work in strengthening bilateral relations and highlighted the need for progress on the Cyprus issue, urging international pressure on Turkey. Ambassador Sequiera reiterated Portugal's commitment to a resolution guided by UN resolutions and international law.
GeneralHourly-paid government employees in Cyprus conducted their first 24-hour strike, marching to the Presidential Palace to demand increased wages. Unions report that these workers have received minimal pay raises over the past 17 years, advocating for salaries that allow for a dignified living. Government officials acknowledge the ongoing dialogue and the financial implications of the demands, while emphasizing their commitment to supporting lower-paid employees.
GeneralEconomic sentiment in Cyprus showed an increase in June, driven by stronger confidence in both the retail trade and construction sectors. This positive shift indicates potential growth in these key areas of the Cypriot economy.
GeneralPhilenews, a Cyprus-based news source, has published a list of events and activities scheduled for Wednesday, June 24th. The article is part of their 'What's On' section, providing readers with information on local happenings.
GeneralNicosia will host the inaugural International Academy of Young Composers, offering free public concerts from June 26 to July 1, 2026. The event aims to provide a platform for emerging composers and showcase new musical works.
GeneralPhilenews provides a wide range of news categories, including local, political, economic, and international updates, alongside sections dedicated to arts, sports, and lifestyle in Cyprus. The platform also features cultural event listings and market news to keep its readership informed on various topics.
Banking & VATCypriot authorities have collected 44 million euros from 513 individuals identified as high-risk tax debtors. This initiative is part of an ongoing effort to address uncollected taxes and is projected to continue through 2025.