Cyprus Tax News 4 February 2013
New Provident and Pension Fund Law – Major Changes
The new Law 208 (I) of 2012 which has been voted by the Parliament on 28 December 2012 provides for the Establishment, Activities and Supervision of Occupational Retirement Benefits Funds (Provident and Retirement Funds). With the ratification of this particular Law, the Provident Fund Laws of 1981 to 2005 and The Establishment, the Activities and Supervision of Occupational Retirement Benefits Act 2006 and 2007 are abolished, while important amendments in relation to Provident and Retirement Funds come into effect.
More details are attached.