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So far Markou has created 24 blog entries.
17 01, 2021

Ultimate Beneficial Owner (UBO) Register in Cyprus

2021-01-19T10:23:21+00:00

Ultimate Beneficial Owner (UBO) Register in Cyprus Cyprus proceeded with the transposition of the 4th AML Directive (EU 2015/849) and started the implementation of the Ultimate Beneficial Owner (UBO) Register of Companies and other legal entities in Cyprus. Registrar of Companies (RoC) The competent authority for the maintenance of the central [...]

Ultimate Beneficial Owner (UBO) Register in Cyprus2021-01-19T10:23:21+00:00
10 01, 2021

Professional License Fee by Cyprus Municipalities

2021-01-14T20:49:26+00:00

Professional License Fee by Cyprus Municipalities As from 2021, the Committee of the Union of Cyprus Municipalities decided on the adoption of a uniform policy for the imposition of the annual professional license fee to legal entities who carry on any business, trade or profession within each municipality’s limits. [...]

Professional License Fee by Cyprus Municipalities2021-01-14T20:49:26+00:00
21 12, 2020

20% tax exemption for newly residents

2020-12-21T09:49:17+00:00

20% tax exemption for newly residents Background Article 8(21) of the Income Tax Legislation provides that the lower of €8.550 and 20% of the remuneration from any employment exercised in Cyprus by an individual who was resident outside Cyprus the tax year before the year of commencement of employment [...]

20% tax exemption for newly residents2020-12-21T09:49:17+00:00
14 09, 2020

General Anti-Abuse Rule (GAAR)

2021-01-14T20:48:55+00:00

General Anti-Abuse Rule (GAAR) in Cyprus The purpose of the general anti-abuse rule (GAAR) is to discourage artificial arrangements and counteract aggressive tax planning not yet been dealt with through specifically targeted provisions (SAARs). It applies from 1 January 2019 and is in line with the European Anti-Tax Avoidance [...]

General Anti-Abuse Rule (GAAR)2021-01-14T20:48:55+00:00
15 08, 2020

Protocol to the Cyprus-Russia Double Tax Treaty (DTT)

2021-01-09T22:47:21+00:00

Protocol to the Cyprus-Russia Double Tax Treaty (DTT) On 10 August 2020, Cyprus and Russia concluded the negotiations of a new protocol to amend the existing provisions of the Cyprus-Russia tax treaty. 15% WHT on dividend and interest payments According to the Protocol, the existing withholding tax (WHT) rates [...]

Protocol to the Cyprus-Russia Double Tax Treaty (DTT)2021-01-09T22:47:21+00:00
8 08, 2020

Application of the Anti-Tax Avoidance Directive (ATAD) in Cyprus

2021-01-14T20:40:57+00:00

Application of the Anti-Tax Avoidance Directive (ATAD) in Cyprus The ATAD aims to implement the recommendations arising from the OECD/G20 Base Erosion and Profit Shifting (BEPS) Project and also introduce a general anti-abuse rule which is not BEPS related. The ATAD includes anti-avoidance measures in the following areas: A General [...]

Application of the Anti-Tax Avoidance Directive (ATAD) in Cyprus2021-01-14T20:40:57+00:00
4 08, 2020

Taxation of P2P Interest Income

2020-08-04T13:06:58+00:00

Taxation of P2P Interest Income Recently we assisted a European private investor relocating to Cyprus. As part of our pre-arrival planning, we reviewed his worldwide incomes to determine his tax position in Cyprus and his global effective tax rate. Upon review, we determined that the majority of his incomes [...]

Taxation of P2P Interest Income2020-08-04T13:06:58+00:00
2 08, 2020

Changes on the taxation of intangible assets

2020-08-02T17:40:21+00:00

Changes on the taxation of intangible assets On 17 July 2020, the Cypriot House of Representatives approved a bill amending the Income Tax Law introducing changes with respect to the taxation of intangible assets. The changes relate to all types of capital-nature intangible assets, other than Intellectual Property (“IP”) [...]

Changes on the taxation of intangible assets2020-08-02T17:40:21+00:00
29 07, 2020

Payment of final tax for 2019

2020-08-02T17:43:08+00:00

Payment of final tax for 2019 We would like to remind you that the payment deadline for the final tax for the tax year 2019 for companies and self-employed individuals preparing audited financial statements is the 31st of August 2020. Payment of income tax due for 2019  The payment [...]

Payment of final tax for 20192020-08-02T17:43:08+00:00
8 07, 2020

Payment of 1st provisional tax installment for 2020

2020-07-08T13:58:38+00:00

Payment of 1st provisional tax installment for 2020 We would like to remind you that the payment deadline for the 1st provisional tax installment for the tax year 2020 is the 31st of July 2020. The timely payment of provisional tax can be made through jccsmart.com, the card payment [...]

Payment of 1st provisional tax installment for 20202020-07-08T13:58:38+00:00
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