The Cyprus Tax Department issued new Frequently Asked Questions on its website, providing guidance on certain aspects of the Transfer Pricing Rules introduced with effect from 1 January 2022.
Through an announcement dated 23 February 2024, the Cyprus Tax Department notified a decree issued by the Council of Ministers of the Republic of Cyprus providing for the extension of the deadline...
Through a circular issued on 1 February 2024 the Cyprus Tax Department announced that the necessary procedures for ratification of the Double Tax Treaty between Cyprus and Croatia were completed...
On 1 February 2024, the Cyprus Tax Department published revised thresholds for what concerns the obligation to prepare a Local File for transactions with related parties (known as “Controlled Transactions”).
On 11 December 2023 Cyprus and France signed a Double Tax Treaty (DTT) which, once it enters in to force, will replace the existing treaty between the two countries, dated back in 1981.
Through an amendment approved by the Cyprus Parliament on 6 December 2023, the Special Contribution for Defence rate on interest income has been reduced from 30% to 17%.
Through a circular issued on 7 July 2023, the Cyprus Tax Department (TD) clarified the method it considers as the most appropriate for determining the arm’s length pricing for financing transactions, including those of a “back-to-back” nature.
The Cyprus Tax Department issued a circular for transactions falling below the threshold for the preparation of a Local File.
