VAT e-Commerce changes from 1st July 2021

June 16th, 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 One Stop Shop (IOSS) will replace the traditional distance selling rules which are currently in place across the EU from 1 July 2021. The main provisions [...]

NON RETURN CAPITAL CONTRIBUTIONS (NRCC)

October 4th, 2018|

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 company (usually Russian) without the latter issuing new shares in the form of NRCC there was a dispute whether the said contribution is treated as a [...]

March 3rd, 2017|

Cyprus Tax Department publishes the 10 year bond yield for Notional Interest Deduction (NID) purposes for 31st December 2016 The Cyprus tax authorities have announced the interest yield of the 10 year government bonds as at 31st December 2016 which increased by 3 % grants  tax allowance on new capital introduced into the Cyprus company.                                                                 [...]