Cyprus Domicile Status

November 24, 2015

Cyprus Domicile Status under SDC Law Introduction Cyprus Domicile Status under SDC Law There have been recent amendments to the Cyprus Tax Laws in relation to the Special Defense Contribution (‘SDC’) with the introduction of the term ‘domicile’. Until recently, a Cyrus tax resident on a worldwide basis was subjected to SDC tax as analysed […]…

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Savings Taxation Directive Repealed

November 17, 2015

EU Savings taxation directive: repealed Savings Taxation Directive Repealed: Directive 2003/48/EC on the taxation of savings income, has been repealed on the 10th of November by the European Council. History of Amendments Since 2005 The Directive that had entered into force in 2005 had enabled payments of interest made in one member state to residents […]…

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Cyprus rated as Largely Compliant

November 10, 2015

Global Forum on Tax Transparency: Cyprus rated as Largely Compliant! Phase 2 Report 2015 – Implementation of the Standard in Practice. Evaluation: 2013 and 2015 The Global Forum on Transparency and Exchange of Information for Tax Purposes (‘Global Forum’) in 2013 had evaluated Cyprus for its implementation of the Global Standard on Automatic Exchange of […]…

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Global Forum on Tax Transparency

November 3, 2015

Global Forum-A big Push against tax evasion! Increase in Efforts and Commitment Global Forum on Tax Transparency has been moving ahead towards greater tax Transparency.  Automatic Exchange of Information will be something for Tax evaders to consider. There has been an overall common consensus worldwide by many countries for implementing the exchange of information system over […]…

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Automatic Exchange of Information

October 30, 2015

Global Standard: Automatic Exchange of Information A Global standard Automatic Exchange of Information:  Tax evasion is a fact, and in order to tackle that effectively the Automatic Exchange of Information Standard has been created by the OECD, Organisation for Economic Co-operation and Development and also by G20.  It is indeed a FATCA style model. Subject […]…

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Tax Changes by Cyprus

October 22, 2015

Important Tax Changes Introduced by Cyprus Introduction Tax Changes by Cyprus:    In order to facilitate the purpose of simplification and improvement of the Cyprus Tax System in line with compliance regulations, the House of Representatives has passed new bills which have been converted to new laws on 9th July 2015.  New bills are also […]…

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Banking In Cyprus-Cyprus Internet Banking

September 17, 2015

Banking in Cyprus For The Professional Banking In Cyprus-Cyprus Internet Banking: Cyprus Banking has come a long way. It is now a fully ripe and professional sector of the Cypriot financial life. By banking in Cyprus you get a lot of advantages for yourself and a powerful tool for your business. For example Cyprus internet […]…

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Bank Account in Cyprus

September 17, 2015

What are the formalities needed to open a bank account in Cyprus? Do I have to travel to there to open a Bank account in Cyprus? Is it very expensive in opening a Bank account in Cyprus? These and other questions are often asked by clients. We have been assisting clients to open a Bank […]…

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