BY A unanimous vote, parliament on Thursday amended the law on sales, abolishing provisions that set specific periods for retailers to sell their products at a discount.
Retailers will still be obliged to list both the before and after price of a product during a sale.
The bill is the result of a 2012 Supreme Court ruling, which argued that setting specific periods for sales, though in line with local law, violated a 2005 European Union directive on unfair commercial practices.
The case related to fines imposed on retailers in 2011 by the Limassol District Court for selling apparel at a discount outside the mandated sales periods.
The three appealed the verdict and the Supreme Court found that the EU directive superseded local law and overturned the decision.
The European Commission had expected Cyprus to amend the legislation since September 2014.