On 30 June 2022, the House of Representatives of Cyprus approved amendments to the tax laws, introducing Transfer Pricing rules and documentation requirements in accordance with recommendations of the OECD on Transfer Pricing Guidelines for Multinational Enterprises and Tax Administrations.

The Department of Environment has given the green light to the development of Guru Mountain Hill Resort in Pano Platres, Troodos region, Philenews reported on Thursday.

Labour minister Kyriacos Koushos on Wednesday expressed satisfaction at the launch of the social insurance office’s digital service for receiving childbirth aid.

The total value of assets under management (AUM) by Collective Funds declined by 3.9% in the first quarter of 2022 over the previous quarter, while Management Companies and Undertakings of Collective Investments (UCIs) supervised by the Cyprus Securities and Exchange Commission continued rising (CySEC).

The cabinet has announced new measures in an effort to halt the spread of COVID-19.

Larnaca marina is expected to open to the public by mid-September as plans for expanding and privatising it are now on track.

Improvement work on the Sotira-Dherynia road in the Famagusta district will begin in August following the signing on Wednesday of a €16.040 million contract between the transport ministry and the joint venture Lois Builders-Wade Adams Contracting (Cyprus) Ltd JV.

Activity in the construction sector in Cyprus continues its decline in the first quarter of 2022, amid soaring prices, data released on Tuesday by the Statistical Service of Cyprus show.

The State Health Services Organization (OKYPY) has proceeded with the upgrade of the software of the MRI at the X-Ray Department of the Nicosia General Hospital.

The Cyprus University of Technology (Tepak) earlier this week entered into a partnership agreement with software company SoftOne Cyprus.