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Posts Tagged ‘OECD’

DAC6 Legislation Voted by Cyprus Parliament

On 18 March 2021 the Cyprus Parliament voted into law the provisions of the EU Directive on Administrative Cooperation, commonly known as DAC6.

Ultimate Beneficial Owner Register for Companies – Time to Act

On 12 March 2021, the Registrar issued a directive with guidelines regarding the maintenance and operation of the Register, as well as...

Cyprus – Russia Double Tax Treaty: Amending Protocol Comes in to Effect

The ratification procedure has been completed and the protocol came in to effect on 15 January 2021 and it is applicable as from...

Reference Interest Rates for 2021 for Notional Interest Deduction on New Equity

The Cyprus Tax Department published on 12 February 2021 the bond yield rates per country as at 31 December 2020 to be considered for the Notional Interest Deduction (NID) to which equity...

Imposition of Administrative Fines Related to Late DAC6 Reporting

On 26 February 2021 the Tax Department announced that there will be no imposition of administrative fines for overdue submission of DAC6 information that will be submitted until the 30 June 2021, related to...

Cyprus and Germany Sign an Amending Protocol to their Double Tax Treaty

On 19 February 2021 Cyprus and Germany signed an amending protocol to their existing Double Tax Treaty (DTT) of 2011.

Cyprus Tax Department Extends Guidance Related to Tax Residency During the COVID-19 Crisis

A new Implementing Directive was issued on 25 January 2021, which extends the provisions of Directive 4/2020 for the year 2021.

Double Tax Treaty Between Cyprus and Egypt Enters in to Force

The Cyprus Tax Department has recently announced that the ratification procedure was completed in both countries and the new DTT has entered...

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