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 [...]
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 [...]
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 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 [...]
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