Cyprus Double Tax Treaty Network

March 12, 2016

 Cyprus Double Tax Treaty Network  : Cyprus continues to grow its Double Tax Treaty network and it has recently signed three new treaties as follows: Guernsey effective as of 1 January 2016 (in force) Switzerland effective as of 1 January 2016 (in force) Georgia effective as of 1 January 2017  Cyprus has signed amendment protocols […]…


Partnership Limited by Shares

February 14, 2016

Partnership Limited by Shares :  The law that governs Partnership limited by shares in Cyprus is the Partnership Law, Cap. 116. Partnership Limited by Shares : Types of Partnership The General Partnership Each partner is liable jointly and individually for amount of debts which are unlimited, unlike the Limited Partnership.  Partners of a General Partnership […]…


Cyprus C.R.S. Implementation Decree

January 31, 2016

Cyprus C.R.S. Implementation Decree: An implementation decree has been issued at the beginning of the New Year 2016 by the Cypriot Ministry of Finance.  This implements the O.E.C.D’S Common Reporting Standard (C.R.S) on the Automatic Exchange of information on financial and tax affairs of multinationals between countries that have agreed to and signed the Multilateral […]…


Changes to the Cyprus Tax Legislation

December 16, 2015

Changes to the Cyprus Tax Legislation: Over the last few months the Cypriot Government has come to agreement with the private sector on the implementation of certain changes to the existing Cyprus Tax System.  Final changes on the Tax Laws have been voted on the 10th of December by the House of Representatives in an […]…


Cyprus International Maritime Transport

December 8, 2015

Cyprus International Maritime Transport : It has long being acknowledged by the European Commission that the Cypriot Shipping Industry is very important, being one of the largest in the EU ranking among the ten largest in the world. Following the importance of the Cypriot Shipping Industry, in 2010 after obtaining the approval of the EU […]…


Savings Taxation Directive Repealed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EU Savings taxation directive: repealed Savings Taxation Directive Repealed: Directive 2003/48/EC on the taxation of savings income, has been repealed on the 10th of November by the European Council.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 […]…


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 […]…


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 […]…