New Sanctions for Tax Havens under consideration

August 16, 2017

New Sanctions under consideration by the EU    Introduction   In 2016 the European Council took the decision that an EU list of non-cooperative jurisdictions should be prepared in 2017.  Moreover the evaluation process which is intended to be regular and continuous process, for third countries is set to be completed by the end of […]…


Creation and the Benefits of a Cyprus International Trust

August 5, 2017

INFORMATION ABOUT THE CREATION AND THE BENEFITS OF A CYPRUS INTERNATIONAL TRUST     Introduction   Our Firm has since 1979 been offering legal and corporate services and especially Trust and Asset protection services, to our international clients with great success. We will be thrilled to have you too as one of our valued clients. […]…


Cyprus Income Tax Law amended

July 22, 2017

New definition to Cyprus Tax Resident Individual   Introduction   Cyprus Income Tax Law amended: There has been a new amendment to the Income Tax Law, voted recently by the House of Representatives of the Republic of Cyprus.   The amendment concerns the definition of Cyprus Tax Resident Individual which has now been changed.   […]…


Cyprus Tax Department issues new rules regarding intra-group financing arrangements

July 9, 2017

New Circular regarding intra-group financing arrangements   Introduction   The Cyprus Tax Department (“CTD”) has recently issued a Circular regarding the new rules for the taxation of intra-group financing arrangements applying from 1 July 2017. The new Circular as in line with the OECD provides for the application of transfer pricing methodology to such activities based […]…


New Transparency Rules for Tax Advise intermediaries

June 25, 2017

New Transparency rules issued by the EU concerning intermediaries that provide tax advisory services. Introduction   New transparency rules have been proposed by the European Union concerning intermediaries who provide tax advisory services to their clients including design and promotion of tax planning.   The scope of those rules covers intermediaries such as business consultants, […]…


Cyprus issues revised Country by Country Reporting Decree

June 11, 2017

Country by Country Reporting Decree has been revised   Introduction   The Ministry of Finance of the Republic of Cyprus has recently issued a revised Decree on Country by Country Reporting which replaces the initial Decree which was issued on 30 December 2016.     Main changes   Below are the main changes from the […]…


Cyprus extends its Double Tax Treaty relations

May 28, 2017

Cyprus signs two more double Tax treaty agreements    Introduction   The Republic of Cyprus continues to extend its Double Tax Treaty Network and has done so recently by signing additional agreements with Luxembourg and Barbados.  Both treaties are based on the OECD model treaty.   Treaty with Luxembourg     As mentioned above, a treaty was […]…


Update On CbC Reporting Implementation by OECD

May 13, 2017

The OECD updates on CbC Reporting Implementation    Introduction   The OECD has issued recently an update on the list of automatic exchange relationships established among various jurisdictions under the Multilateral Competent Authority Agreement on the exchange of country-by-country reports.   The signatories of the relevant agreement have commenced exchanging Country by Country reports multilaterally […]…