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Paralimni Wetlands, Cyprus

Paralimni Wetlands, Cyprus

Located in the southeastern corner of Cyprus near the town that shares its name, Paralimni Lake stands as one of the island's eight remaining natural wetlands. This 350-hectare seasonal wetland hosts an extraordinary variety of bird species and rare reptiles despite severe threats from development and poor management. The name Paralimni translates to "by the lake," a reminder that this wetland once defined the entire region's identity. Paralimni Lake occupies a natural depression between the villages of Paralimni, Sotira, and Deryneia in the Famagusta district. The basin collects rainwater runoff from surrounding areas, primarily through the Plati torrent flowing from the east. During winter and early spring, water accumulates in this shallow pan, creating crucial wetland habitat. By summer, the lake typically dries out completely, leaving exposed mudflats and sparse vegetation. This seasonal pattern might seem problematic, but Mediterranean ecosystems have evolved to function perfectly with such cycles. The wet winter months support migratory birds, while the dry summer period allows different species to thrive. In drought years, the lake may barely collect any water at all. In particularly wet seasons, it can retain moisture for longer periods, sometimes extending bird habitat availability into early summer. Historical records show that in 1893, locals cut drainage channels to reduce humidity around the growing town. These channels dried much of the lake…

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Cyprus Corporate Tax System

Cyprus Corporate Tax System

The corporate income tax rate increased from 12.5% to 15% on January 1, 2026. This change aligns Cyprus with the OECD's Pillar Two global minimum tax framework. Parliament approved the comprehensive tax reform package on December 22, 2025, marking the most significant update to the Cyprus tax system in over two decades. Despite the rate increase, Cyprus maintains competitive positioning within the European Union. The 15% rate remains lower than most EU member states. The reform preserved key exemptions and deductions that define the Cyprus tax advantage. Companies earning profits before 2026 can still apply the previous 12.5% rate to retained earnings under specific conditions. Large multinational enterprises with annual revenues exceeding €750 million face additional considerations. These companies already operate under the Qualified Domestic Minimum Top-Up Tax, which took effect in 2025. The QDMTT ensures compliance with global minimum tax requirements while maintaining domestic competitiveness. Core Tax Exemptions That Remain Unchanged Cyprus continues to exempt dividend income from taxation. Companies receiving dividends from Cyprus resident or foreign entities pay zero corporate tax on this income. This exemption applies regardless of where the distributing company operates, subject to certain anti-abuse provisions. Capital gains from the sale of shares remain tax-free. Companies can dispose of securities, bonds, debentures, and other corporate titles without triggering corporate income tax. This creates significant advantages…

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Atalanti Nature Trail

Atalanti Nature Trail

The Atalanti Nature Trail wraps around Mount Olympus at an altitude where black pines grow thick, and views stretch across the entire island of Cyprus. This 14-kilometer circular route offers a longer alternative to the more popular Artemis Trail, with the same mountain setting but fewer crowds. The path combines ecological education with genuine wilderness experience, complete with an abandoned chromite mine and an 800-year-old juniper tree. The Atalanti Nature Trail sits at 1,700 to 1,750 meters above sea level in the Troodos National Forest Park. The route starts and ends at Troodos Square, the main gathering point in the Troodos Mountains. Despite its 14-kilometer length, the trail maintains a relatively flat profile throughout most of its course, with only the final quarter showing noticeable elevation changes. The trail is officially designated as a geo-trail, which means it includes geological interpretation along with natural history. Walking time ranges from 3 to 5 hours, depending on pace and how often hikers stop to examine the landscape. Historical Background Atalanti takes her name from Atalanta, one of the few female heroes in Greek mythology who appears as a central figure. According to myth, her father abandoned her as an infant because he wanted a son. A she-bear found and nursed the child until hunters discovered her and raised her. She grew up…

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