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Building bridges with Highworth

Newsletter July 2024

On behalf of our Client, an established Audit firm, we are looking for an energetic individual to fill out the position of Auditor, with accounting and audit responsibilities for its offices in Nicosia.  Position Overview We are seeking a dedicated professional to join our team, responsible for conducting audit engagements for our clients. Key responsibilities include:  Performing audits for both international and local clients.  Preparing financial statements in accordance with IFRSs and ISAs.  Collaborating closely with the Manager, Supervisors, and team members to deliver exceptional client service.  Managing multiple assignments while maintaining composure under pressure.  Reporting daily on tasks and

July 2024 Newsletter KSA

August 2024 Newsletter

Saudi Arabia has transferred a $163 billion stake in its national oil company, Aramco, to its sovereign wealth fund, the Public Investment Fund (PIF), as part of efforts to grow assets and modernize the economy. This transfer of an 8% stake marks the third such increase in the PIF’s holding in Aramco over the past two years, bringing the fund’s total control to 16%.  Initially, the government transferred a 4% stake to the PIF in February 2022, followed by another 4% to Sanabil, an investment arm of the PIF, in April 2023. Crown Prince Mohammed bin Salman, who leads the

Declarations of Withholding Tax & Contributions (IR 7) that have not been submitted and concern the years from 2019 onwards The Tax Department informs that, in terms of complying with the tax obligations, it is possible to submit, up until October 31, 2024 without the imposition of an Administrative Fine, the Declarations of withholding Tax & Contributions (IR 7) that have not been submitted on the specified date and which relate to the years from in 2019 onwards. After this date, the provided charges will be imposed, in accordance with the provisions of the Law.

The Department of Taxation has announced an extension for the submission of the Individual’s Income Statement for the year 2023 and the payment of the tax due. Based on the Decree of the Minister, Council dated 21 June 2024 (ΚΔΠ 209/2024), the new deadline is now 31 October 2024. It is important to remember that the obligation to submit an Individual’s Income Statement for the year 2023 applies to Employees, Pensioners, and Self-employed individuals whose Gross Total Income for the year 2023 exceeds €19,500. https://taxisnet.mof.gov.cy/

We are seeking a talented Marketing Promotional Officer to join our team on a full-time basis to promote a banking institution based abroad and trying to enter the Cyprus market. As a Marketing and Promotional Officer, your primary responsibility will be to design and execute marketing strategies to promote our bank’s services to the people of Cyprus. You will have the opportunity to visit offices, interact with potential clients, and showcase the benefits of banking with our institution. Key Responsibilities: Develop and implement innovative marketing campaigns to increase brand awareness and attract clients. Conduct market research to identify potential clients