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…
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…
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,…
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…
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…
The Economic and Financial Affairs Council (ECOFIN) adopted the proposal ‘VAT in the Digital Age’ last year. These new rules aim to make VAT in the EU simpler and more resistant to fraud. Recently, the Council officially approved this new directive. The EU member states must now implement these rules. Our Baker Tilly International network…
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…
On the 26th February, the EU Commission announced its ‘Omnibus’ package, confirming the simplifications to the Carbon Border Adjustment Mechanism (CBAM). The proposal document and supporting ‘Commission Staff Working Document’ (SWD) were released the following day, outlining amendments to CBAM Regulation 2023/956. These changes are in response to discussions on the existing scope of 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…
