Latest News
PROPOSED TAX REFORM CYPRUS
The Economics Research Centre at the University of Cyprus has presented a comprehensive tax reform proposal to the public. This proposal is the first of its kind since 2002 that [...]
VAT e-Commerce changes from 1st July 2021
Distance Selling and B2C Services. New One Stop Shop (OSS) & Import One Stop Shop (IOSS) schemes WHAT IS NEW The new One Stop Shop (OSS) and the new Import [...]
General Healthcare System (GHS) contributions start from 1st March 2019
The long awaited General Healthcare System (GHS) is now a reality in Cyprus. From 1st of March 2019 the contributions have started with the outpatient healthcare taking effect from [...]
NON RETURN CAPITAL CONTRIBUTIONS (NRCC)
A new tax circular EE25 of the Cyprus Tax Department was issued clarifying the treatment of NRCC. When a Cyprus company contributes to the net assets of its foreign subsidiary [...]
TAX TREATMENT OF INTRA-GROUP BACK-TO-BACK FINANCING ARRANGEMENTS
TAX TREATMENT OF INTRA-GROUP BACK-TO-BACK FINANCING ARRANGEMENTS On the 30th of June the Cyprus Tax Department has issued an interpretative Circular as to the treatment of Intra [...]
TAX NEWS: Minimum profit margins on Back to Back Loans abolished
Minimum profit margins on Back to Back Loans abolished The Cyprus Tax Department (CTD), in order to streamline its policies and adhere with the latest OECD guidelines and the [...]
CYPRUS NEW INTELLECTUAL PROPERTY TAXATION REGIME
On the 14 of October the Cyprus Parliament has amended the Cyprus tax legislation and the favourable tax scheme applying for Intellectual Property Rights (collectively referred to as IP) and [...]
CYPRUS TO AMEND THE INTELLECTUAL PROPERTY RIGHTS TAX REGIME
The Cyprus Tax Department (CTD) announced that they will amend the Intellectual Property Tax Law to align it with the OECD recommendations as published on the 5th October 2015 Action [...]
CYPRUS ENACTS PROPOSED 2015 TAX REFORMS
The Cyprus Parliament has approved the a number of tax reforms which they were subsequently passed into laws with there publication in the Government gazette on Thursday 16th July 2015. [...]
Inland Revenue collections down
The Inland Revenue Department collections have been reduced by 3% in the first seven months of the year compared to the same period of 2013, official data released on 2/9/2014 [...]