Alerts

  • UBO Register Cyprus

Ultimate Beneficial Owner (UBO) Register in Cyprus

January 17th, 2021|

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. [...]

  • Professional License Fee

Professional License Fee by Cyprus Municipalities

January 10th, 2021|

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 [...]

20% tax exemption for newly residents

December 21st, 2020|

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 [...]

  • GAAR in Cyprus Constantinos Markou & Co

General Anti-Abuse Rule (GAAR)

September 14th, 2020|

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 [...]

  • Cyprus Russia Protocol

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

August 15th, 2020|

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 [...]

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

August 8th, 2020|

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 [...]

Taxation of P2P Interest Income

August 4th, 2020|

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 [...]

Changes on the taxation of intangible assets

August 2nd, 2020|

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 [...]

Payment of final tax for 2019

July 29th, 2020|

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 [...]

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