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 [...]

  • Cyprus tax measures expected in 2021 Constantinos Markou & Co

Cyprus tax measures expected in 2021

December 8th, 2020|

Cyprus tax measures expected in 2021 On 22 October 2020, the Cyprus Council of Ministers announced certain tax measures to address aggressive tax planning. These measures follow Country Specific Recommendations (CSR) made to Cyprus by the [...]

  • Amendments to Assessment and Collection Constantinos Markou & Co

Amendments to the Assessment and Collection of Taxes Law

September 15th, 2020|

Amendments to the Assessment and Collection of Taxes Law On 20 of August 2020, several amendments were enacted in the  Cypriot Assessment and Collection of Taxes Law. The amendments aim to improve tax compliance and grant [...]

  • 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 [...]

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