Tax Flash – Notional Interest Deduction Rates 2026
Notional Interest Deduction Rates 2026
Tax Flash | Increased Penalties for Late Filing of Corporate Income Tax Return
Further to the recent amendments to the Assessment and Collection of Taxes Law, introduced in the context of the Cyprus tax reform and effective as from 1 January 2026, revised administrative penalties will apply for the late submission of corporate income tax returns Tax Flash – Increased Penalties for Late Filing of Corporate Income Tax…
Amendments to the Income Tax law and Special Defence Contribution law
On 10th of April 2025, the House of Representatives passed amendments to the Income Tax Law and the Special Defence Contribution Law, introducing withholding taxes on payments of royalties, dividends and interest, made to a company which is tax resident in a country included in the EU blacklist or to a company incorporated in any…
Strait of Hormuz: The Epicenter of Global Oil Uncertainty
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…
Shaping Tomorrow: Baker Tilly Europe Conference Successfully Held in Athens
Baker Tilly South East Europe had the honour of hosting this year’s Europe Conference, which took place in Athens from May 7 to 9. More than 150 senior and emerging leaders from the firm’s global network participated in this dynamic three-day event, themed “Leading Change, Creating Value”, highlighting change as a driving force for innovation,…
Savvas M. Klitou Elected to the New Board of Directors of ICPAC
We are proud to announce that Savvas M. Klitou, Regional Managing Partner & Head of Tax Services at Baker Tilly South East Europe, has been elected as a member of the new Board of Directors of ICPAC (Institute of Certified Public Accountants of Cyprus). The newly appointed board was constituted prior to the official proceedings…
Revenue Recognition for Non-Profit Entities: Navigating Complexity with Clarity
Revenue recognition in non-profit organizations is often underestimated in terms of complexity. In practice, it is one of the areas most frequently challenged during external audits, largely due to the variety of funding sources and the judgment required in applying the relevant accounting standards. Unlike commercial entities, non-profits receive income from a broad range of sources, donations, grants, memberships, sponsorships, and service-based arrangements. Each…
Proposed deal – Baker Tilly South East Europe to merge with MHA
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…