Cyprus Offshore Companies formation

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 […]


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 […]


Tax Diary 2014

March 26,2014

End of each month • PAYE deducted from employees’ salaries for the previous month • Defence contribution deducted from dividends, interest or rent paid in the previous month 31 January • Submission and payment of special contribution for defence on deemed dividend distribution for the tax year 2011 31 March • Electronic submission of 2012 […]


The third assessment of Cyprus Economy by Troika

March 24,2014

Echelons experts of the European Commission, the European Central Bank (ECB) and International Monetary Fund (IMF) visited Nicosia between 29 January and 11 February 2014 with a view to the third assessment of the economic program of Cyprus, which is funded by the European Stability Mechanism (ESM) and the IMF. The approval of this evaluation […]


Big step on financial sector in Cyprus

March 17,2014

The Cypriot Authorities performed a big step from March of 2013 in order to improve restrictions on money movements within the Republic. The finance of Minister Mr. Charis Georgiadis expressed a satisfaction for the restructuring plan of the cooperative credit sector by the European Commission noting that is an important step for the full stability […]


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