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 [...]
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 [...]
Tax Treaty between Cyprus and The Netherlands On 1st June 2021, Cyprus and The Netherlands signed a Double Tax Treaty that follows the provisions of the OECD Model Tax Treaty. The Treaty was by the Minister of Finance of the Republic of Cyprus and the Ambassador of The Kingdom [...]
Protocol amending the Cyprus Germany Tax Treaty On 19 February 2021, Cyprus and Germany signed a Protocol amending the existing Cyprus Germany Tax Treaty. On behalf of the Republic of Cyprus, the protocol was signed by the Minister of Finance, Mr. Constantinos Petrides, and on behalf of the Federal [...]
Notional Interest Deduction rates for 2021 On 12 February 2021, the Tax Department issued an announcement listing the 10-year government bond yield rates as of 31 December 2020 for various countries with respect to the Notional Interest Deduction (NID) on equity. These yield rates are to be used to [...]
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. Registrar of Companies (RoC) The competent authority for the maintenance of the central [...]
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 European Commission. WHT to non-cooperative jurisdictions Currently, Cyprus does not impose any withholidng [...]
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 the Commissioner of Taxation increased powers in relation to tax collection. The amendments [...]
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