18 09, 2022

Taxes in relation to property in Cyprus

2022-12-18T21:18:40+00:00

Taxes in relation to property in Cyprus In Cyprus, there are several taxes that may be applicable to the purchase of real estate. These taxes include transfer fees, stamp duty, value-added tax (VAT), and capital gains tax (CGT). Transfer Fees - Payable by the buyer When a property is [...]

Taxes in relation to property in Cyprus2022-12-18T21:18:40+00:00
5 08, 2022

New income tax exemptions for employment income

2022-12-17T21:58:10+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 income2022-12-17T21:58:10+00:00
1 08, 2022

Increased tax deduction for Research and Development expenses

2022-12-16T22:47:00+00:00

Increased tax deduction for Research and Development expenses On 7 July 2022, Article 9(1)(d) of the Cyprus Income Tax (“IT’’) Law was amended to allow a tax deduction for expenditure incurred for scientific research and Research and Development (“R&D”). The said amendments were gazetted in the official Cyprus Government Gazette [...]

Increased tax deduction for Research and Development expenses2022-12-16T22:47:00+00:00
17 07, 2022

Introduction of Transfer Pricing Regulations in Cyprus

2022-12-17T11:54:10+00:00

Introduction of Transfer Pricing Regulations in Cyprus In June 2022, the Cyprus Parliament approved amendments to the Income Tax Law that introduced detailed Transfer Pricing (TP) requirements into the country's tax legislation. These provisions, which are in line with the recommendations of the OECD's Transfer Pricing Guidelines for Multinational [...]

Introduction of Transfer Pricing Regulations in Cyprus2022-12-17T11:54:10+00:00
12 07, 2022

Stamp Duty

2023-01-13T09:29:24+00:00

Stamp Duty Stamp duty is a tax that is imposed on certain legal documents and transactions in Cyprus. The rate of stamp duty varies depending on the type of document or transaction, and examples include the sale of property, the transfer of shares in a company, and the execution [...]

Stamp Duty2023-01-13T09:29:24+00:00
12 07, 2022

Payment of 1st provisional tax installment for 2022

2022-12-16T22:47:03+00:00

Payment of 1st provisional tax installment for 2022 We would like to remind you that the payment deadline for the 1st provisional tax installment for the tax year 2022 is the 31st of August 2022. The timely payment of provisional tax can be made through jccsmart.com, the card payment [...]

Payment of 1st provisional tax installment for 20222022-12-16T22:47:03+00:00
6 05, 2022

Cyprus Jordan Double Tax Treaty entered into force

2022-12-17T11:15:08+00:00

Cyprus Jordan Double Tax Treaty entered into force The Double Tax Treaty between Cyprus and the Kingdom of Jordan (the “Treaty”) entered into force on 11 April 2022. The Treaty, which was signed on 17 December 2021, will enter into effect as from 1 January 2023. The Treaty The [...]

Cyprus Jordan Double Tax Treaty entered into force2022-12-17T11:15:08+00:00
22 03, 2022

Incentives for Investment in Cypriot Innovative SMEs

2022-12-17T12:16:11+00:00

Incentives for Investment in Cypriot Innovative SMEs The Cyprus Income Tax Law includes tax incentives for individuals who are tax residents of Cyprus and invest in innovative small and medium-sized enterprises (SMEs). The incentives, which were originally implemented in 2017 and have been extended multiple times, aim to encourage [...]

Incentives for Investment in Cypriot Innovative SMEs2022-12-17T12:16:11+00:00
9 02, 2022

Notional Interest Deduction rates for 2022

2022-12-16T22:47:06+00:00

Notional Interest Deduction rates for 2022 The Cypriot Tax Department issued an announcement listing the 10-year government bond yield rates as of 31 December 2021 for various countries with respect to the Notional Interest Deduction (NID) on equity. These yield rates are to be used to determine the reference [...]

Notional Interest Deduction rates for 20222022-12-16T22:47:06+00:00
19 01, 2022

Cyprus measures for EU-blacklisted jurisdictions

2022-12-16T22:47:09+00:00

Cyprus measures for EU-blacklisted jurisdictions Further to our previous post, on 21 December 2021 the Cypriot Income Tax Law and Special Defence Contribution Law were amended for the introduction of defensive tax measures that will apply in Cyprus in relation to jurisdictions included on the EU list of non-cooperative [...]

Cyprus measures for EU-blacklisted jurisdictions2022-12-16T22:47:09+00:00
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