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Posts Tagged ‘Income Tax Exemptions’

Cyprus - Tax Treatment of Non-Refundable Capital Contributions

Through Interpretative Circular 25, released on 3 September 2018, the Cyprus Tax Department clarifies the tax treatment of non-refundable capital contributions... 

Tax Circular on 50% Exemption of Remuneration from Income Tax

On 8 July 2024 the Cyprus Tax Department issued Circular 04/2024 entitled “50% exemption from Income Tax on remuneration from employment exercised in the Republic”.

Cyprus Parliament Approves EU Blue Card Legislation

On 11 July 2024, the Cyprus Parliament approved the draft legislation for the implementation of the EU Blue Card Scheme. The EU Blue Card offers a significant opportunity for...

Reference Interest Rates for Montenegro and Cameroon for Notional Interest Deduction on Equity

The Cyprus Tax Department published on 5 July 2024 the bond yield rates as at 31 December 2022 and 2023 for Montenegro and Cameroon, to be considered for...

Employer’s Returns from 2019 and Onwards

On 4 July 2024 the Cyprus Tax Department announced that submissions of the Withholding Taxes and Contributions Return  for the year 2019 and onwards can be made until 31 October 2024.

Deadline for Submission of Personal Income Tax Return for 2023 Extended

The Cyprus Tax Department announced on 21 June 2024 that the deadline for submission of the Income Tax Return for 2023 is extended from 31 July 2024 to 31 October 2024.

Tax Treatment of Medical Scheme Contributions

Through a circular issued on 30 May 2024, the Cyprus Tax Department announced amendments in the tax allowable thresholds for contributions to medical schemes. It relates to contributions... 

Deadline for Submission of Employer’s Return Extended

The deadline for submission of the Withholding Taxes and Contributions Return for the year 2023 has been extended from 31 May 2024 to 31 July 2024. The Return...

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