First Double Tax Treaty between Cyprus and Luxembourg

October 13, 2017

Cyprus and Luxembourg sign the First Double Tax Treaty   Introduction   Recently, Luxembourg and Cyprus signed their first double tax treaty with an aim to strengthen their economic and commercial relationship. Moreover, after the signing of the double tax treaty both Luxembourg and Cyprus also signed the multilateral convention to implement tax treaty related […]…

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New EU Framework proposed for Foreign Direct Investments

September 23, 2017

EU proposes new framework for Foreign Direct Investments.   Introduction   A new framework has been proposed by the European Commission for the screening of Foreign Direct investment into the EU. The reasoning behind this proposal as expressed by the Commission President is mainly for collective security protection.  Foreign direct investments on European ground concerning […]…

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The Fourth EU Anti Money Laundering Directive

September 7, 2017

The Fourth EU AML Directive to be Transposed Soon!   Introduction   The fourth Anti-Money Laundering Directive (EU) No. 2015/849 (Directive) has entered into force since 26th June 2015. EU Member States had to implement the Directive by 26 June 2017 into national law. Nevertheless, Cyprus was not able to meet the deadline and the government […]…

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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 […]…

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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. […]…

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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.   […]…

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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 […]…

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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, […]…

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