10. Blog list – side overlap

What we care for, we protect. Earth Day is far more than a symbolic occasion. It is a practical opportunity to reassess their environmental impact and to implement meaningful, measurable changes – for the planet and for themselves. “While long-term sustainability strategies are essential, immediate actions and practical steps can significantly reduce a company’s ecological…

This insight was co written by Tomasz Piasecki and Maisie Williams. Recent developments include the UK Sustainability Reporting Standards (UK SRS) and the PRA’s SS5/25 supervisory expectations on climate risk management for banks and insurers. In the EU, the Omnibus I simplification package introduces amendments to key sustainability legislation, including the Corporate Sustainability Reporting Directive (CSRD) and the Corporate Sustainability Due Diligence Directive (CSDDD).…

Several countries have either banned, or are moving towards banning, access to certain generally available apps amongst under 16s. This has largely been driven by concerns about mental health, safety and the influence of algorithms on young minds. Whilst the reasons behind these initiatives are certainly laudable, they also raise a question as to whether…

The tax authorities have announced that the filing deadline for both the qualifying domestic minimum top-up tax and the top-up tax under the income inclusion rule (IIR) has been extended. Qualifying Domestic Minimum Top-Up Tax The filing deadline for reporting years that start on 31 December 2023 or later, and reporting years ending on 1…

While the immediate threat that a disruption in the Strait of Hormuz poses to the global oil trade is readily apparent, a deeper analysis reveals that the ramifications extend far beyond energy markets and permeate the broader economic landscape. Modern industrial output is fundamentally dependent on consistent and affordable energy inputs. Manufacturing facilities and processing…

Insight written by Ben Hobby, Principal, Brian Nichols, Principal, Bernard Regan, Principal and Christopher J. Tait, Principal From Baker Tilly US Small and mid-sized businesses (SMBs) are the backbone of every economy, yet they remain dangerously exposed to cyber risk. Many SMBs lack the budget, infrastructure and in-house expertise to implement strong defenses, leaving them…

The landscape of cyber security has fundamentally shifted, moving from a niche IT concern to a systemic risk that demands active, long-term leadership from the board. For financial services firms, where operational stability and client trust are paramount, the necessity of robust cyber resilience is not merely a commercial concern but a core regulatory expectation…

Since mid-February, the outbreak of foot-and-mouth disease has posed a significant economic challenge to Cyprus’s livestock and agricultural sector, as well as to the broader economy. Following the identification of the first cases on the island, the Government activated an Emergency Response Plan and proceeded with the implementation of targeted containment measures. Key measures included quarantines in affected areas, restrictions on the movement…

On 12 December 2025, EU Member States reached agreement on a major reform of the EU’s customs treatment of e-commerce parcels. From 1 July 2026, all goods entering the EU with a value of €150 or less will be subject to a flat €3 customs duty per item. This represents one of the most significant…

Global technology, media and telecommunications (TMT) dealmaking is entering a new phase – one defined less by volume and more by conviction. Buyers are no longer focused on how much they acquire, but on what they are prepared to bet big on. The latest review of global TMT mergers and acquisitions (M&A) by Baker Tilly…

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The Supreme Court of the United States (SCOTUS) announced on February 20, 2026, that President Trump does not have authority under the International Emergency Economic Powers Act (IEEPA) to impose broad tariffs. This announcement marks a significant legal and political moment in U.S. trade policy and creates a surge of opportunities for US importers financially…

ATA Carnets are entering a new digital era. With eCarnets being rolled out globally from 2026, businesses need to understand how the move from paper to app-based carnets will change international movements, and how to prepare.A major transformation is underway in the world of ATA Carnets. After more than 60 years of paper-based processes, the…

According to Climate Action Tracker, under current policies, global warming is projected to fall woefully short of the Paris Agreement threshold of 1.5⁰C above pre-industrial levels, which are necessary to mitigate the long-term impacts of global warming and associated man-made climate change. Shockingly the figure Climate Action Tracker cites is 2.7⁰C above pre-industrial levels. If…

Baker Tilly South East Europe Celebrates Merger with MHA and 30 Years of Excellence Baker Tilly South East Europe held an official event in Athens to commemorate both its merger with the UK-based professional services group MHA and the 30th anniversary of the firm’s establishment. The event was held under the support of the British…

Major Withholding Tax Reductions Effective from 2026   January 2026 Romania and the United Kingdom have entered into force a new Convention for the Elimination of Double Taxation, replacing the treaty in force since 1975. The new treaty, signed on 13 November 2024 and effective from 23 December 2025, aligns with OECD and BEPS standards…

On 5 January 2026, the OECD/G20 Inclusive Framework (147 jurisdictions) agreed a way forward on Pillar Two and published the Side-by-Side (SbS) Package. The package introduces targeted simplifications and new safe harbours, while reaffirming QDMTTs as the primary mechanism for protecting domestic tax bases, changes that may materially affect Pillar Two compliance and cash tax…

The Cyprus Tax Reform is here — and it’s reshaping the way businesses plan, invest, and grow. Are you ready to turn change into opportunity? Join our exclusive client briefing to discover what’s new, what’s next, and how to stay ahead in 2026 and beyond. This comprehensive session will cover all the key changes introduced…

MHA plc is pleased to announce that the firm has entered into an agreement to acquire Moore Stephens LLC, an audit practice, and Moore Stephens Consulting LLC, a tax and consulting services firm. The two firms are headquartered in Dubai and are collectively known as MS UAE. The acquisition is consistent with MHA’s strategy of…

Estonia’s Ministry of Finance has said it did not agree (under an OECD Inclusive Framework “silent procedure”) to the proposed Pillar Two side-by-side system package, and that it wants an outcome “acceptable to all parties.” In its announcement, Estonia argues that the OECD minimum tax rules are highly complex, would create a disproportionate administrative burden…

Law no. 239/2025, published in the Official Journal no. 1160/15.12.2025, part of the “Package 2” of fiscal‑budgetary reforms, introduces major changes in taxation, public administration and insolvency procedures, aiming to reduce tax evasion and enhance resource efficiency. The majority of provisions enter into force starting 1 January 2026. Key provisions applicable from 1 January 2026…

Baker Tilly South East Europe is pleased to announce the appointment of Marios Tsiakkis as a Non-Executive Director to the regional Board. Marios brings more than 35 years of leadership experience, most recently serving as Secretary General of the Cyprus Chamber of Commerce and Industry (Keve), where he played a central role in shaping economic…

On 4th of June 2025, the European Commission announced that Bulgaria is ready to adopt the euro. The announcement follows the release of the 2025 Convergence Report, which stated that Bulgaria met all nominal convergence criteria of the EU – price stability, public finances criterion, exchange rate and convergence of long-term interest rates. Furthermore, the…

What can the EU energy sector do to meet it obligations and aspirations, what role can they play, and how ESG should be at the forefront of their business modelling. There is little doubt that meeting the EU energy sector’s climate change and sustainability obligations and ambitions rest, in no small measure, on placing climate…

To meet GHG reduction levels, the number of flights globally will need to be significantly reduced. There are a number of implications. Firstly, the more people who migrate to other countries, the more people will need to travel back to visit family and friends, and the more consequent travel will be required. This will be…

Baker Tilly Cyprus announces the firm’s appointment as the statutory auditor of AstroBank Public Company Limited. This appointment underscores Baker Tilly Cyprus’s commitment to delivering high-quality audit and assurance services, supporting transparency, governance, and regulatory compliance in the banking sector. Commenting on the appointment, Marios Klitou, Regional CEO at Baker Tilly SEE, stated: “We are…

Baker Tilly South East Europe has announced the completion of its merger with MHA, a firm listed on the London Stock Exchange’s AIM market. The agreement, valued at €24 million, was finalized on August 11, 2025, marking a new chapter of growth and international expansion for the company. A Strategic Move with Long-Term Vision The…

While the EU’s Omnibus proposal aims to reduce the number of companies within the scope of the Corporate Sustainability Reporting Directive (CSRD) by an estimated 80%, it also aims to streamline regulatory demands and give wave 2 and 3 companies more time – helping businesses focus more effectively on sustainability. The ‘stop-the-clock’ directive has officially…

Regional group to join forces with Baker Tilly International UK member firm Baker Tilly South East Europe (BTSEE), a leading professional services firm offering a comprehensive range of services to clients in Cyprus, Greece and South East Europe, announces that it has entered into a heads-of-terms agreement to merge with MHA plc, a leading professional…

The Omnibus package was proposed by the European Commission with the aim of simplifying ESG rules and making EU businesses more competitive. The package, if adopted, will reduce administrative burdens for all companies by 25% and for SMEs by 35%.   What will the legislation do? Omnibus impacts the Corporate Sustainability Reporting Directive (CSRD), the…

CHANGES TO THE LEGISLATION On 6 December 2024, the Prevention and Combating of Money Laundering (Amendment) (No. 2) Law of 2024 with number L.141(I)/2024 was published, introducing the below amendments: 1. The penalties for the omission or neglection of the filing / annual confirmation of the UBO Register will only be applicable to the legal…