The conclusions and recommendations contained in this email are based on our understanding of the facts, assumptions, information and documents provided to us and mentioned herein and the current tax laws and tax regulations in effect as of the date of this email. 

If the facts and assumptions are incorrect or change or the tax laws and regulations are amended, the conclusions and recommendations would likewise be subject to change. We assume no obligation to update the email for any future changes in tax laws, regulations, or other interpretations and do not intend to do so.

This email is not binding on the Cyprus Tax Authorities or the courts and should not be considered a representation, warranty, or guarantee that the Cyprus Tax Authorities or the courts will concur with our conclusions.

Any advice set out in this email (the “Advice”), (including, without limitation, any part thereof) is given to you solely in connection with the transaction(s) directly/indirectly referred to above and you may rely on it only to the extent that you agree to be bound by and be subject to the provisions of the engagement letter, including, without limitation, the provisions of the business terms which are appended to the said engagement letter.

The Advice may not be relied upon by any other person or used for any other purpose and neither its contents nor its existence may be disclosed without our prior written consent.

If the Advice contains details of an arrangement that could be subject to the Council Directive (EU) 2018/822 as regards mandatory automatic exchange of information in relation to reportable cross-border arrangements, we may be obliged to notify the relevant authorities and no restrictions or prohibitions on disclosure apply to such advice.