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So far Markou has created 24 blog entries.
29 06, 2020

Amendments to the NID rules

2020-06-29T19:13:30+00:00

Amendments to the NID rules On 16 June 2020, an amending Income Tax Law (ITL) was published with respect to the Notional Interest Deduction (NID). The revised NID provisions provide increased tax benefits for Cyprus companies financing their operations through new capital and are in line with the recommendations of [...]

Amendments to the NID rules2020-06-29T19:13:30+00:00
5 06, 2020

Extended Deadlines for the Submission of 2019 Tax Returns

2020-06-05T19:51:49+00:00

Extended deadlines for the submission of 2019 personal tax returns In accordance with a Decree issued on 5 June 2020, the following deadlines are extended to 30 October 2020: Electronic submission of the 2019 personal income tax return by employees and pensioners (TD1 - Employee) whose gross income exceeds [...]

Extended Deadlines for the Submission of 2019 Tax Returns2020-06-05T19:51:49+00:00
2 06, 2020

Tax Incentives for Rent Reductions during 2020

2020-06-06T08:15:47+00:00

Tax Incentives for Rent Reductions during 2020 On 2 June 2020, the Cypriot Income Tax Law was amended providing a tax credit to landlords (individuals or companies) so as to voluntarily reduce the rent charged to tenants. The tax credit is equal to 50% of the rent reduction voluntarily [...]

Tax Incentives for Rent Reductions during 20202020-06-06T08:15:47+00:00
12 04, 2020

Case Study: Relocation to Cyprus

2020-04-13T19:30:35+00:00

Relocation to Cyprus Finding a suitable tax friendly jurisdiction The Issue Our client, an EU citizen high net worth individual with investments and assets around the globe, was looking for a suitable EU jurisdiction to consolidate his holdings, relocate his family and become [...]

Case Study: Relocation to Cyprus2020-04-13T19:30:35+00:00
11 04, 2020

Covid19 – Cyprus Government Response

2020-04-15T19:31:42+00:00

Covid19 - Cyprus Government Response Economic Support Measures to mitigate the effects of COVID19 in the Cyprus economy In the context of the measures taken by the government to support companies / businesses affected by the restrictive measures imposed to limit the spread of COVID19 (Coronavirus), the Government [...]

Covid19 – Cyprus Government Response2020-04-15T19:31:42+00:00
13 03, 2020

Case Study: Disposal of IP

2020-04-13T19:41:51+00:00

Disposal of IP Taking advantage of the Cypriot IP Regime The Issue A Cyprus company was the owner of valuable mobile software (IP) used by millions of users in Central Europe. The IP was owned, managed and exploited via a Cyprus company. Once [...]

Case Study: Disposal of IP2020-04-13T19:41:51+00:00
13 03, 2020

Case Study: Franchise expansion to the US

2020-04-13T19:16:57+00:00

Franchise expansion to the US Taking advantage of the Cyprus-US double tax treaty The Issue Our client is the owner of a multinational restaurant franchise with licensing arrangements and activities in more than 19 countries. He decided to expand the franchise activities to [...]

Case Study: Franchise expansion to the US2020-04-13T19:16:57+00:00
17 02, 2020

Notional Interest Deduction Rates

2020-04-17T16:01:23+00:00

Notional Interest Deduction Rates On the table below, you can find the ten-year yield rate of Government bond of each Country, which increased by 3%, represents the “reference rate” for the purpose of granting tax allowance on new capital, as per article 9B of the Income Tax Law L.118(I)/2002. [...]

Notional Interest Deduction Rates2020-04-17T16:01:23+00:00
17 02, 2020

Cyprus Notional Interest Deduction

2020-06-29T18:42:53+00:00

Cyprus Notional Interest Deduction (NID) Introduction Generally, companies can be financed via debt, equity or a mixture of both. On the one hand, debt generates interest expense, which is usually a tax-deductible expense for the borrower. Equity on the other hand is associated with dividends, which are not deductible for [...]

Cyprus Notional Interest Deduction2020-06-29T18:42:53+00:00
17 02, 2020

Cyprus Tax Resident Certificate

2020-04-17T10:53:08+00:00

Cyprus Tax Resident Certificate for individuals Introduction We set out below the main requirements and conditions that must be met for an individual to obtain a tax residency certificate from the Cypriot Tax Department. A tax resident certificate is usually requested by foreign tax authorities in order to apply the [...]

Cyprus Tax Resident Certificate2020-04-17T10:53:08+00:00
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