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 […]…
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 […]…
January 8, 2017
Cyprus Issues Country by Country Decree end of 2016 The Ministry of Finance of the Republic of Cyprus has issued at the end of year 2016 a Decree pursuant to Article 6 (16) of Assessment and Collection of Taxes Law on Country by-Country Reporting (CCR). This Decree as per European Union Law requires Cyprus as […]…
December 18, 2016
Changes to Cyprus Intellectual Property Regime:The Income Tax Law with respect to the application of the Cypriot intellectual property regime has recently been amended and approved by the Cypriot Parliament.The new provisions of the IP regime are now consistent with the OECD Action Plan recommendations for better tax practices, supporting also transparency.The relevant laws and […]…
December 4, 2016
Revised Tax Treaty signed with India: The last tax treaty between Cyprus and India has been signed in 1994. This treaty has now been revised by the two countries and has now replaced the old treaty. There has been ongoing negotiations between the parties and have been concluded in June 2016. Following those negotiations, the two […]…
November 20, 2016
Access to Beneficial Ownership Information:The European Council has recently endorsed the proposal of providing access to tax authorities to beneficial ownership information. This information is currently held by various authorities who are responsible for the prevention of money laundering and terrorist financing. In the wake of the latest leak of information regarding the Panama Papers, […]…
November 6, 2016
Common Corporate Tax Plan : The Common Consolidated Corporate Tax Base Plan initiative has been recently under review by the European Commission with the introduction of new proposals.In particular, in addition to the CCCTB relaunch proposal, additional reform measures have been published.The initial plan was rejected by member states back in 2011 when it was […]…
October 2, 2016
Cyprus Company Registration on the Rise lately as the Tax Havens are being castigated by the EU, the UN, the US, Russia etc. The Tax Havens are loosing their heavenly appeal. So international enterpreneurs are looking for a legal way to reduce the burden of their taxes. Cyprus is such a country. It is an […]…
