No withholding tax applies on interest and royalties when paid from a Russian Company to a Cypriot company. This was ratified on the Protocol and signed by Russia and Cyprus during 2012 and implemented in 2013.

The Cyprus Securities and Exchange Commission has recently released information to all Cyprus Investment Firms, Management Companies and Administrative Service Providers regarding fraudulent tax evasion, and also a proposal on the prevention of use of the financial system for the purpose of money laundering and terrorist financing.

Since 1 November 2007, companies in Singapore are required to file financial statements with ACRA, and filing financial statements in XBRL. With effect from 3 March 2014, the revised XBRL filing requirements under the BizFinx system apply.

Cyprus Company Law provides for a member led voluntary winding up of a company. In order for this to occur the company must be solvent. The voluntary winding up of a Cyprus company is formalised in Article 261 – 292 of the Cyprus Companies Law.