Nicosia – Cyprus plans to reopen its airports with a colour-coded health risk assessment system from 1 March 2021, applicable to travellers from many of its main tourism markets and the European Union. The island has adopted a traffic-light system for EU member states and third countries such as Britain, Russia and Israel that are...Read More

Nicosia – The number of people who travelled to Cyprus fell by almost 80% in 2020 compared to 2019 while people departing from the country also recorded a drop of 80.1%, according to data released by the Cyprus Statistical Service (CyStat), this week. In particular, during the period of January – December 2020, arrivals of...Read More

Cryptocurrency believers and sceptics alike are in for a treat. The Cyprus Fiduciary Association (CYFA), of which Chelco Management Services is a member, is organising on Friday, 29 January 2021 a half-day webinar on digital currencies. The webinar will be delivered by Limassol entrepreneur and financial risk analyst, Evis Zenios, who will present the fairy-tale...Read More

Moscow – The Netherlands disagrees with the Russian proposal to amend their tax treaty, as “it takes too limited account of real economic activities” the Russian News Agency (TASS) quoted the press officer of the Dutch Finance Ministry, Remco Raus, as saying earlier this week. “This proposal therefore has negative consequences for both the Dutch...Read More

Nicosia – Cyprus and Russia have agreed on an amendment of their 1998 tax treaty, earlier this month. The agreement was reached following negotiations between the two countries’ Finance Ministries on 10 August. 15% WHT on Dividend and Interest payments According to the agreement reached, the existing Withholding Tax (WHT) rates on dividend and interest...Read More

Nicosia – Deposits and loans in the Cyprus banking system registered a net increase in June with total deposits amounting to €47.8 billion and total loans to €32.2 billion. Data published earlier this week by the Central Bank of Cyprus (CBC), show that total deposits in June 2020 recorded a net increase of €106.4 million,...Read More

Limassol – Chelco Management Services Ltd has just released its all-new website at www.chelcomanagement.com. The website was redesigned, rebranded and rewritten from the ground up. It features an all-new E-Library, making searching and finding information easier, faster and more intuitive. The website is also easier to navigate, it’s more search engine friendly and is fully...Read More

Nicosia – The Cyprus Tax Department launched in early July its much-awaited digital Tax Portal, putting an end to tax payments at local district offices on 1 September 2020. The Tax Department launched the Portal with an announcement on its website, in which it outlines its purpose, features and access method. The Tax Portal can be accessed via the...Read More

Nicosia – President Nicos Anastasiades announced in a televised address last night a new set of economic measures to help businesses, the self-employed and employees soften the devastating financial effects of the coronavirus (Covid-19) pandemic. The President elaborated that the new package of measures, which includes €430 million in direct government assistance and the unlocking of up...Read More

Singapore – A Singapore University of Technology and Design study predicted that the Covid-19 virus will be eradicated in Cyprus in the second half of May. In a study published on 28 April, the University predicted the lifecycle of the Coronavirus pandemic in many countries, including Cyprus. According to the findings, the pandemic peaked in Cyprus on...Read More