The EU has implemented rules to address IBAN discrimination within Member States with the Single Euro Payments Area Regulation (SEPA Regulation).

According to Article 9 of Regulation (EU) No. 260/2012 (SEPA) the following are defined:

• a payer, who performs a credit transfer to a payee who holds a payment account within the European Union shall not specify in which member state the payment account is to be held, provided that such payment account is reachable in accordance with the rules of a European Union-wide payment scheme.
• a payee, who accepts a transfer or uses a direct debit to collect funds from a payer, who holds a payment account within the European Union shall not specify in which member state this payment account is to be held, provided that the payment account is reachable in accordance with the rules of a European Union-wide payment scheme.

Although the Regulation has been in force since March 2012, citizens and businesses operating across borders are faced with the rejection of their IBAN because it starts with the letters of their country of origin (for example CY, GR, FR, etc.) or the digit length of the IBAN differs from the domestic one (for example, it has less than 34 alphanumeric characters).

To solve this, they are forced to obtain a new bank account in the host member state. That is not always easy. Especially if the company is not established or the citizen does not reside in the member state from/to which the payment is made. For businesses, this can even lead to the closure of their economic activity.

IBAN discrimination occurs in both the private sector and public services. According to information from the EC, most complaints of IBAN discrimination concern telecommunications providers.

However, the consequences of discrimination by public authorities can be more severe because there is often no alternative to public service. Businesses may not be able to pay their taxes, get their VAT money back, apply for promotions, or obtain certificates. While citizens may face difficulties, for example, with tax authorities and receiving pensions or reimbursement of healthcare expenses.

The European Commission’s Single Market Enforcement Task Force (SMET) is exploring this issue with a view to taking action to eliminate discrimination.

That is why, to support the efforts of the Task Force, we would like you to inform us whether you have faced similar treatment. That is, if you tried to make credit transfers within the Single Euro Payments Area (SEPA) or direct debits within SEPA to pay bills, purchase products or services online, pay taxes or collect tax refunds, unemployment benefits, or other benefits, and your account was rejected because it is located in an EU country other than the country of the other party. Please note that the information collected will be given anonymously to the Task Force.

The survey will be open until August 16, 2023, and you can participate by completing the form found HERE.

PDF Circular – Survey to address IBAN discrimination

The Cyprus Chamber of Commerce and Industry is organizing the 7th edition of the scientific conference “International Conference on Renewable Energy Sources and Efficiency,” which will take place from October 12th to 14th, 2023, at the Hilton Hotel in Nicosia.

This conference, held biennially, is co-organized with the Ministry of Energy, Commerce, and Industry, and the International Renewable Energy Agency (IRENA). The conference is expected to host over 60 representatives from energy-related organizations from various countries.

The conference is held under the auspices of the President of the Republic, Mr. Nikos Christodoulides. Representatives from the European Commission involved in renewable energy sources and energy efficiency matters have also been invited.

Registration is a necessary requirement for participation in the conference. You can register by clicking here.
For more information and the conference agenda, you can visit the website https://www.resee-cy.com/.

Circular PDF – 7th International Conference on Renewable Energy Sources and Efficiency

We would like to inform you that the Ministry of Energy, Commerce, and Industry has announced the new “Grants Scheme for Solar Water Heating Systems in Households 2023.”

The scheme will be implemented starting from today, Monday, August 7, 2023, through the Renewable Energy and Energy Efficiency Fund and provides subsidies for the installation or replacement of integrated water heating systems (water heaters and frames) that meet minimum technical criteria.

The grant amount per application/house is as follows:

– General Category: €500
– Households with vulnerable electricity consumers: €900
– Households located in mountainous areas: €900

It is noted that the installations must be carried out by certified participating installers listed in the “List of Participating Installers” and the equipment to be installed must be included in the “List of Eligible Equipment” which is pre-approved and coded. This facilitates applicants during the investment implementation and reduces the risk of application rejection due to equipment ineligibility.

Interested parties can learn more about the Grants Scheme and submit Pre-Approval Requests through the Renewable Energy and Energy Efficiency Fund website by clicking here.

Find the related announcement and other information here.

Circular PDF – Grants Scheme for Solar Water Heating Systems in Households 2023

Following our previous information, dated July 4, 2023, regarding the implementation of the new European Union legislation on the labeling and presentation of wine products, the Cyprus Chamber of Commerce and Industry, in cooperation with the Department of Agriculture of the Ministry of Agriculture, Rural Development and Environment and the Cyprus Wine Association (CWA), organizes a Workshop to inform winemakers about their obligations under the new legislation.

The presentation will take place on Thursday, September 14, 2023, at 11:00 at the presentation hall of the Limassol Chamber of Commerce and Industry, at 170 Franklin Roosevelt Avenue.
Interested parties are kindly requested to register by clicking here. Attached is the agenda of the presentation in which you can see the topics that will be discussed.

On December 8, 2023, a new Regulation of the European Parliament and of the Council (EU) 2021/2117 enters into force, which makes some significant changes regarding the labeling of wine products (wines).

In particular, the new provisions impose additional mandatory particulars that should appear in the same visual field and in the same font size as the other mandatory particulars. These indications concern the nutrition declaration, the list of ingredients, and the date of minimum durability and use-by date.

In addition, the list of ingredients must be included on the packaging or label which should be displayed in the same visual field and in the same font size as the other mandatory indications, in the form of an electronic QR code (Quick Response code) or equivalent (2D ή 1D). The QR code, when scanned, should refer to a website that only lists the ingredients without including any other information intended for sale or marketing, or information gathering. The website to which the user will be referred may additionally include a complete nutrition declaration, in addition to simply indicating the energy value.

The CCCI, in order to help you implement your obligations, has created an online platform on which those affected can register to upload the data required by the Regulation. The CCCI will also provide the QR codes for each of the products that fall under this obligation.

For more information please contact the CCCI at telephone number 22889748.

Circular PDF – Labeling and presentation of wine products

The Ministry of Energy, Commerce and Industry announces that the receipt of applications from companies in the agricultural, industrial and services sectors for financial support for private participation in trade fairs, which took place or will take place between January 1, 2023 and December 31, 2023, under the three following Sponsorship Plans has begun:

• De minimis Aid Scheme for Cypriot companies active in the processing and/or marketing of industrial products, for private participation in trade fairs in Cyprus and abroad.
• De minimis Aid Scheme for Cypriot enterprises active in the sectors of processing and/or marketing of agricultural products, for private participation in trade fairs in Cyprus and abroad.
• De minimis Aid Scheme for Cypriot service

Interested parties can obtain the Application Form, together with the incorporated Information Brochure by clicking here

For more information, you can contact the Ministry at telephone numbers 22867234 / 22867192 / 22867268 or at email ts@meci.gov.cy.

PDF Circular – Funding Schemes for private participation of businesses in exhibitions in Cyprus and abroad for 2023