Cyprus Offshore Companies formation

Cyprus Non-Dom Status

February 07,2018

In an effort to enhance competiveness and simplicity of the Cyprus tax system, Cyprus has introduced the term “Domicile”. The Special Defence Contribution (SDC) has been amended so that individuals who are not domiciled in Cyprus are not subject to SDC tax on dividends, interest and rental income. The exemption n applies to income even […]


Cyprus Intellectual Property Regime

February 07,2018

Cyprus has introduced a new IP regime which is in full compliance with international developments and the recommendations of the OECD’s BEPS project. The new IP regime can reduce the effective tax rate to 2.5% of the profit that relates to IP. For further details please refer to our publication below.   Cyprus Intellectual Property […]


Tax Diary 2018

December 15,2017

End of each month PAYE (Pay as you earn) deducted from employees’ salaries for the preceding month Payment of special contribution for defence contribution deducted from dividends, interest or rent paid to a Cyprus tax resident in the preceding month Payment of tax withheld in the preceding month on payments to non-Cyprus resident 31 January […]


Arrangements for payment of taxes by instalments

June 23,2017

The notification that will specify the arrangements of the Tax Commissioner for the payment of overdue taxes will be published today at the official government gazette. The relevant law, which was voted last January by the House of Representatives, concerns the arrangement of debts with the income tax, VAT, immovable property tax, special contribution for defence, […]


Common Reporting Standard (CRS) – Automatic Exchange of Information

June 09,2017

Common Reporting Standard (CRS) developed by the OECD and calls on jurisdiction to obtain and automatically exchange information with other jurisdictions on an annual basis. CSR sets out the financial account information to be exchanged, the financial institutions required to report and the different types of accounts and taxpayers that are covered. It should be noted […]


Cyprus Corporation Tax

May 29,2017

Basic: A company which is tax resident in the Republic of Cyprus, is taxed on income accruing or arising from sources both within and outside the Republic. A company which is not tax resident in the Republic, is taxed on income accruing or arising only from sources within the Republic. Tax residency A company is […]


NOTIONAL INTEREST DEDUCTION

May 11,2017

Debt has been traditionally used as a tax efficient way to finance business operations mainly through back to back debt agreements. However, recent tax developments at international level are such that back to back debt may prove to be risky and should be avoided. In response to the tax developments, Cyprus has introduced a new […]


Personal Income Tax

April 28,2017

Personal Income Tax forms are due for filing on 2 May 2017 unless the return is filed electronically through taxisnet. The article gives an overview of personal income tax in Cyprus together with an example of Income Tax Calculation. Personal Income Tax


Payment of overdue taxes by instalments

February 14,2017

The House of Representatives has voted for the bill by which the overdue taxes can be paid by equal monthly instalments as follows:  Amounts owned under €100.000 will be payable by 54 equal monthly instalments (with the minimum instalment being €50). Amounts owned in excess of €100.000 will be payable by 60 equal monthly instalments […]


Oil & Gas in Cyprus, Tax and Accounting

November 13,2014

During 2013 there were emerging differences in global economic performance, geopolitical uncertainty and continuous debates regarding the proper roles of government and markets. As per the BP Statistical Review of World Energy, which was published in June 2014, during 2013 the largest reserves of oil were held by Venezuela, with 17.70% of the total world […]


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Phone: +357 25343477 http://www.ksapre.com/