A common announcement by the Central Bank of Cyprus and the Ministry of Finance marked the end of the resolution process for Bank of Cyprus ("BoC"). A percentage of 47.5% of uninsured deposits was converted into share capital achieving a Tier 1 Equity ratio of 12%, well above the minimum of 9% and one of the highest in Europe.
The Central Bank will take no further actions under the relevant Resolution Law and BoC will be managed by the transitional Board of Directors up until the Extraordinary General Meeting in which the new shareholders (former depositors) will elect the new Board of Directors.
The exit of BoC from the resolution process is a very important step in normalising the banking sector.
2. First Review of Cyprus economic program by EC, ECB and IMF.
In a statement issued by the European Commission (EC), the European Central Bank (ECB) and the InternationaI Monetary Fund (IMF) on 31 July 2013, the international lenders have noted the positive progress made by the Cypriot authorities. Quoting from the statement: "Our overall assessment is that Cyprus’s program is on track. All the fiscal targets have been met as a result of significant fiscal consolidation measures underway and prudent budget execution. The authorities have taken decisive steps to stabilize the financial sector and have already been gradually relaxing deposit restrictions and capital controls"
3. New Double Taxation Treaty with Ukraine closer to ratification
On the 23rd of July 2013, the Ukrainian president signed the law on ratification of the
Treaty for the Avoidance of Double Taxation between the Republic of Cyprus and Ukraine.
The double tax treaty will enter into force on the 1st of January following the year of ratification. It is expected that formal exchange of notices of ratification will take place before the end of this year and therefore the new treaty will be applicable as from 1st January 2014.
Aug 1, 2013 - WTS World Tax Service Cyprus Ltd is an independent member firm of WTS Alliance, a global tax network providing tax, legal and business consulting services. All legal services are provided through registered law.
Board members present were Kay Voorhees, Chuck Dunlop, Gary Spears, Brad Heide,. Rita Boydston, Wade Teagarden, and Brad Aust. Superintendent â Chris ...
Light Up Newcastle â âSwitch Onâ Event. Sunday ... Scotland, originally from Tootenhill, Rathcoole. Burial will ... 2013 12 01 Newsletter December 01 2013.pdf.
Dec 10, 2012 - In accordance with the law 167(I)/2012 the following changes have been ... In an effort to reduce the administrative burden of tax compliance, ...
Dec 10, 2012 - WTS World Tax Service Cyprus Ltd is an independent member firm of WTS Alliance, a global tax network providing tax, legal and business consulting services. All legal services are provided through registered law.
There was a problem previewing this document. Retrying... Download. Connect more apps... Try one of the apps below to open or edit this item. Addison Wesley ...
In which package the ICs are available [ ]. a) TO-5 glass metal package b) Ceramic flat package. c) Dual-in-line package d) All the above. 5. From the following ...
c) The Subscriber can obtain the status of his/her application from the CRA vvebsite or through the respective DTO. d) For more information. Visit us at bSnâ¢/hnvw nose dl co'n. Call us at 022-24994200 e-mail us at info crafaus Lco in. Write to, Cen
for software development, and its deployment in higher education. .... but make the loop far easier to close by making its elements more visible and transparent.
for software development, and its deployment in higher education. If you feel that you are familiar with open source software and its benefits, both in a general ...
source in education initiatives, Jasig and The Sakai Foundation, chartered the Jasig-âSakai Joint ... mainstream of the information technology landscape.
Jan 15, 2016 - that appeared in ADB website on 8 January 2016. ... length: 175.36 Km) under Design, Build, Operate/ Maintain and Transfer ... Applications:.
There was a problem previewing this document. Retrying... Download. Connect more apps... Try one of the apps below to open or edit this item. Management of ...
... the competent authority and they. will be held personally responsible for excess authorisation, if any. (xi) The digital signature for the designated officers in the ...
