Reporting Implementation by O.E.C.D.

May 13, 2017

C.b.C. Reporting Implementation by O.E.C.D.: The O.E.C.D. 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 which was initially proposed by base […]…

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Cyprus Signing Tax Treaty with Iran

April 30, 2017

Cyprus Signing Tax Treaty with Iran :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 the Organisation for Economic Co-operation and Development (O.E.C.D.) Model Convention. Cyprus Signing Tax Treaty […]…

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Startup Permit for Third Country Residents

April 15, 2017

Startup Permit for Third Country Residents : 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 in establishing and investing in their […]…

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Access to Beneficial Ownership Registers

March 18, 2017

Access to Beneficial Ownership Registers :  The implementation of the fourth A.M.L Directive is approaching and M.E.P.s 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 to demonstrate a “legitimate interest,” in order […]…

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EU Consultation Against VAT Fraud

March 5, 2017

EU Consultation Against VAT Fraud  :   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 such, several VAT aspects will need to be examined, such as […]…

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Cyprus Law for Settlement of Taxes

February 19, 2017

Cyprus Law for Settlement of Taxes :  Early in 2017, a new law was approved by the Cyprus parliament regarding a scheme for the settlement of overdue taxes.  This Law is applicable to Income Tax Law, Special Defense Contribution Law, Immovable Property Tax Law, Capital Gains Tax Law, Inheritance Tax Law, Special Contribution Law, Stamp […]…

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EU Passport With 2 M Euros Investment

February 5, 2017

EU Passport With 2 M Euros Investment :  It has been some time now that the Republic of Cyprus has decided to reduce the amount of investment to 2 million euros in order to be able to obtain a Cypriot/EU passport.One of the main objectives of the economic policy of the Republic of Cyprus is […]…

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Cyprus introduces investing framework for innovative enterprises

January 22, 2017

Cyprus introduces investing framework for innovative enterprises:The Parliament of the Republic of Cyprus aims to introduce a new framework which offers tax incentives for investing in innovative enterprises following a vote to amend Income Tax Law. What is the new framework? According to the amendments, an innovative enterprise is defined as a small and medium […]…

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