The House of Representatives voted amendments to the income tax law provisions for the taxation of the income derived from the exploitation or sale of intangible assets. The amendments were voted to bring the legislation in line with the provisions of OECD and EU rules on the subject. The amendments include transitional provisions for assets qualified as intangible assets under previous legislation. The transitional provisions […]
Fitch Ratings has upgraded Cyprus`s Long-term foreign and local currency Issue Default Ratings (IDRs) by one notch to BB- from B+, it announced on Friday 21 October. As stated on a press release: “The issue ratings on Cyprus`s senior unsecured foreign and local-currency bonds have also been upgraded to BB- from B+. The Outlooks on the long-term IDRs are Positive. The Country Ceiling has been […]
On September 2016 the S&P agency upgraded Cyprus economy from (BB-) to BB. Cyprus still part of the junk’ (high-yield) sector, but is expected that in 2017/2018 the country will return to the ‘elite club’ of the countries that belong to the Investment Grade market.
