The Research and Innovation Foundation (RIF) this week commented on the latest results from the European Innovation Scoreboard 2024, which once again reaffirms Cyprus’ progress in the field of innovation, classifying it as a Strong Innovator for the third consecutive year.

The Tax Department of the Republic of Cyprus has recently announced that the deadline for the Return for Withheld Taxes & Contributions (TD7) for the year 2023 has been extended to 31 October 2024.

The Cyprus Investment Funds Association (CIFA) on Friday expressed satisfaction with the increase in Assets Under Management (AUM) of Cypriot investment funds.

Moody’s Ratings announced on Thursday that it has upgraded the Bank of Cyprus’ long-term deposit ratings to Baa1 from Baa3, changing the outlook to stable from positive.

European Commissioner for International Partnerships Jutta Urpilainen discussed the philosophy underpinning the European Union’s strategy for international development, known as the Global Gateway, during an interview with the Cyprus News Agency (CNA), ahead of her visit to Cyprus.

For yet another consecutive year, PwC Cyprus presented the 12th Invest Cyprus International Investment Awards. This prestigious event has established itself as the foremost platform for highlighting foreign investments in Cyprus, recognizing international companies and investors who significantly contribute to the development of the Cypriot economy.

Tourism revenue in Cyprus saw a modest rise of 5.5 per cent in the first quarter of 2024, compared to the same period in 2023, while April remained essentially the same, according to a report released on Monday by the Cyprus Statistical Service (Cystat).

Cyprus saw a 20.1 per cent increase in tourist arrivals during 2023, reaching 3,845,652 compared to 3,201,080 in 2022, with over one-third of visitors staying in Paphos, according to a report by the state’s statistical service.

The Council of Ministers of the Republic of Cyprus, through Regulatory Administrative Act RAA 209/2024, has issued a Decree by which the deadline for the submission of the 2023 Personal Income Tax returns (TD1) has been extended to 23:59 hours on 31 October 2024.

The Cyprus Tax Department has extended both the submission of the Personal Income Tax (Form T.D.1) for the tax year 2023 as well as the settlement of any liability that may arise until 31 October 2024, which is available for submission via the TAXISnet platform. The form should be submitted by all employees, pensioners and self-employed persons for whom the combined total income for 2023 exceeds €19.500 .