The Double Tax Treaty (DTT) between Kazakhstan and Cyprus was ratified on January 17th, 2020. The DTT Convention on income tax will enter into full force from 1st January 2021 and the main amendments of the Convention cover the taxation of dividends, interest, capital gains and royalties. These provisions aim to create unique opportunities for both countries’ businesses and entrepreneurs in the long-term.

The European Commission on Thursday approved a €6.3 million incentive scheme aiming to boost Cyprus air connectivity and tourism through incentivizing airlines affected by the coronavirus outbreak to re-establish air routes to and from the island.

The Cyprus Composite Leading Economic Index (CCLEI) marked its highest annual dip in May affected by the two-month lockdown measures to contain the spread of the coronavirus, while the June flash estimate point to economic recovery in the third quarter.

Still suffering from Covid-19 lockdown measures, Cyprus unemployment rose to 10.2% in May, higher than the 7.3% average across the EU, official figures showed on Thursday.

Property sales island-wide are back to February levels in June following the lockdown brought about by the Coronavirus outbreak, Insider reports.

Moody’s anticipates the spike in Cyprus public debt will be transitory and will return to a sustained downward path after the coronavirus crisis wanes, Moody’s rating agency said in its report, noting however that it would consider upgrading Cyprus credit rating following reduction in banking sector risks.

A decision to include the United Kingdom in the list of countries from which travel to Cyprus is allowed, is likely to be taken in August, one of the experts advising the government on the coronavirus outbreak told CNA on Wednesday.

Cyprus Public Transport (CPT), which now runs the Nicosia and Larnaca bus routes, officially announced on Wednesday the launch of their service from July 5.

Wizz Air inaugurated on Wednesday its 28th base at Larnaca airport while a third aircraft is expected to start flights from Cyprus in August.

Cyprus Ministers and MPs put their heads together on Wednesday to find ways of dealing with the UK’s decision to end home fee status for EU students from the 2021-22 academic year.