Cyprus intellectual Property Regime (IP)
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 [...]
Double Tax Treaties of Cyprus
Cyprus differs from most other offshore jurisdictions, in that it offers a big number of double tax treaties (50 in total), for the avoidance of double taxation. In general most of the [...]
Cyprus Tax Legislation
Cyprus has a favourable tax regime. The corporation tax is only 12.5% on business profits which can be further reduced through the use of double tax treaties. The main advantages of Cyprus [...]
Tax Planning in Cyprus
The benefits of proper tax planning are substantial. Cyprus has stable tax system with lots of tax incentives. The most commonly used types of companies are the Cyprus Holding, Financing, Trading and [...]
Tax Diary 2018
End of each month PAYE (Pay as you earn) deducted from employees’ salaries for the preceding month Payment of special contribution for defense contribution deducted from dividends, interest or rent paid to [...]
Arrangements for payment of taxes by installments
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 [...]
Common Reporting Standard (CRS) – Automatic Exchange of Information
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 [...]
Cyprus Corporation Tax
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 [...]
Notional Interest Deduction
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 [...]
Personal Income Tax
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 [...]