The Cyprus Tax Department published on 14 February 2018 an update on bond yield rates per country as at 31 December 2017 to be considered for the notional interest deduction to which equity injected in to Cyprus companies as from 1 January 2015 is entitled. The rates are as follows:Read More
We have reported several times in the past about the very attractive personal tax exemption of 50% of employment income of a non-resident person taking up residence in Cyprus to work for an employer in the country. The exemption was introduced in 2012 aiming to attractRead More
The President of the Russian Federation signed on 29 December 2017, Law No. 436-FZ of 28 December 2017 (the Law), which amends the Tax Code and several legislative acts. The Law was thereafter published in the official government portal. It provides for the followingRead More
Infographic available in Chinese
Our Infographic on incentives to invest in and/or relocate to Cyprus has recently become available also in the Chinese language. The document provides an easy to read and concise summary of the major measures currently in force in the Republic of Cyprus for attracting foreign investors, businessmen and employees to invest, establish businesses, obtain employment, relocate/live in the country. The Infographic can be accessed by clicking on the link above. As always, we are at your disposal for any further information or clarification and we would be glad to discuss and assist on benefiting from these and a plethora of other advantages available in Cyprus.
On 3 January 2018, Cyprus and Saudi Arabia signed a Double Tax Treaty (DTT) in Riyadh. The DTT is based on the OECD Model Tax Convention. Further details will be reported as they become available.
OECD – Consultation regarding disclosure of CRS avoidance arrangements and offshore structures
On 11 December 2017, the OECD announced the launching of a consultation on new rules requiring disclosure of CRS avoidance arrangements and offshore structures.
The rules are targetedRead More
On 11 December 2017, the Cyprus Tax Department announced the extension of the deadline for the filing of the first Country by Country (CbC) Reports for groups with a Reporting Fiscal Year ended 31 December 2016, from 31 December 2017 to 28 February 2018.
Furthermore, the deadline for filing of CbC Notifications for 2017 has been extended from 31 December 2017 to 15 January 2018.
The application of the accelerated capital allowance rates was extended by two more years (previously applicable until the tax year 2016), following the publication of the relevant legislation in the Official Gazette of the Republic of Cyprus on 24 November 2017.Read More