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, […]…
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 […]…
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 […]…
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 […]…
April 30, 2017
Cyprus and Iran Tax Treaty to be in effect as from 1 January 2018 Introduction The Republic of Cyprus continuously extends its Tax Treaty engagements and has done so with Iran on 4th August 2015. The said Tax Treaty has entered into force in March 2017 and it is based on […]…
April 15, 2017
Cyprus Startup Visa Adopted for Third Country Nationals Introduction Cyprus Adopts Startup Permit Scheme for Third Country Residents: Cyprus has recently adopted the Startup Permit Scheme or otherwise known as “Startup Visa” which is applicable for residents in third countries which have an interest in moving to Cyprus for business purposes […]…
March 18, 2017
MEPs call for wider access to beneficial ownership registers. Introduction The implementation of the fourth AML Directive is approaching and MEPs have agreed for a wider access to beneficial ownership by the public. What this means is that EU citizens could access the registers of beneficial owners of companies. The requirement of having […]…
March 5, 2017
EU Consultation issued for administrative cooperation and the fight against VAT fraud. Introduction A consultation has been issued as from 02.03.2017 to 31.05.2017 and concerns the following: Last year the Commission adopted an Action Plan towards a robust single European VAT area in relation to the definitive VAT system for cross-border supplies. As […]…
