Amendments to the Income Tax law
On 7 July 2022, the House of Representatives passed amendments to the Income Tax Law.
Cyprus Double Tax Treaty Protocol with Switzerland in effect
In summary On 3 February 2022, the Cyprus Tax Authority issued a circular (Circular 3/2022) informing that the legal procedures for the entry into force of the Cyprus – Switzerland Double Tax Treaty Protocol signed on 20 July 2020 (the “Protocol”) have been completed in both jurisdictions. The Protocol entered into force on 3 November [...]
Cyprus Double Tax Treaty Protocol with Germany in effect
On 2 February 2022, the Cyprus Tax Authority issued a circular (Circular 2/2022) informing that the legal procedures for the entry into force of the Cyprus – Germany
DAC6 reporting deadlines extended
On the 4th of June 2021, the Cyprus Tax Department announced an additional extension for filing information on reportable cross-border arrangements. The new submission deadline for DAC6 has been extended to the 30st of September 2021, for the following cases
UBO Register
On 18 February 2021, the House of Representatives (Parliament) voted for The Prevention and Suppression of Money Laundering and Terrorist Financing (Amending) Law of 2021
Extension of DAC6 Reporting Deadlines in Cyprus
The Tax Department of the Republic of Cyprus has announced that DAC6 (which is the Council Directive (EU) 2018/822 of 25 May 2018 amending Directive 2011/16/EU
Gambling and betting laws in Cyprus -The possibility of foreign companies to operate in Cyprus
During 2004 and after Cyprus has joined the EU, online gambling service providers licensed in other EU member states have exploited the legal ambiguity and flaws that existed in Cyprus
Foreign Nationals in Cyprus
Cyprus’ full EU membership, strategic location, warm climate, highly qualified professionals and list of personal tax incentives has made Cyprus an ideal setting for foreign nationals to relocate to.
Country by Country Reporting
The Cyprus Tax Department informs that the reporting deadline for submission of Country by Country Reporting for the year 2019 and the notifications for the year 2020 is as follows: For CbC reporting the deadline is the 31st of January 2021 rather than 31st of December 2020; For local CbC reporting due to the secondary [...]
DOUBLE TAX TREATY AMENDMENT: CYPRUS – RUSSIA
Cyprus and Russia entered into a Double tax Treaty (DTT) back in 1998 in a joint effort to avoid the double taxing of income and capital generated in Cyprus