8 11, 2022

New income tax exemptions for employment income tax circular

2022-11-08T15:15:27+00:00

New income tax exemptions for employment income circular Further to our previous post, the Cypriot Income Tax Law was amended for certain income tax exemptions with respect to employment income. The amended law was voted in the context of the Government’s strategy to attract and retain foreign talent to Cyprus. The [...]

New income tax exemptions for employment income tax circular2022-11-08T15:15:27+00:00
5 08, 2022

New income tax exemptions for employment income

2022-08-10T22:17:34+00:00

New income tax exemptions for employment income On 26 July 2022, The Cypriot Income Tax Law was amended for certain income tax exemptions with respect to employment income. The amended law was voted in the context of the Government’s strategy to attract and retain foreign talent to Cyprus. Existing income [...]

New income tax exemptions for employment income2022-08-10T22:17:34+00:00
8 07, 2022

Introduction of limited assurance review

2022-08-08T22:35:18+00:00

Introduction of limited assurance review On 9 June 2022, the House of Representatives approved amendments to the Companies Law and to the Assessment and Collection of taxes law (“the laws”). The purpose of the amendments is to simplify the procedure of auditing the Financial Statements of small and medium-sized [...]

Introduction of limited assurance review2022-08-08T22:35:18+00:00
14 09, 2020

General Anti-Abuse Rule (GAAR)

2021-02-09T20:10:14+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)2021-02-09T20:10:14+00:00
17 02, 2020

Notional Interest Deduction Rates

2022-02-09T21:11:53+00:00

Notional Interest Deduction Rates On the table below, you can find the ten-year yield rate of the Government bond of each Country, which increased by 5% (3% up to 31/12/2018), represents the “reference rate” for the purpose of granting tax allowance on new capital, as per article 9B of the Income [...]

Notional Interest Deduction Rates2022-02-09T21:11:53+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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