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Posts Tagged ‘Interest’

Double Tax Treaty Between Cyprus and Croatia in Application

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...

Reduction of Special Contribution for Defence on Interest Income

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%.

Public Interest Rate for 2024

With a decree published in the Official Gazette of the Republic of Cyprus on 29 December 2023, the Minister of Finance has increased the public interest rate...

EU Revises List of Non-Cooperative Jurisdictions for Tax Purposes

The EU Council revised its list of non-cooperative jurisdictions for tax purposes on 17 October 2023, adding Seychelles, Belize and Antigua and Barbuda.

Reference Interest Rates for Notional Interest Deduction on Equity

The Cyprus Tax Department issued an announcement on 23 May 2023 concerning the 10-year government bond yield rates as at 31 December 2020, 2021 and 2022 for a number of countries.

Reference Interest Rates for 2023 for Notional Interest Deduction on Equity

The Cyprus Tax Department published on 16 March 2023 the bond yield rates as at 31 December 2022 for a number of countries, to be considered for the Notional Interest Deduction to which equity injected in to Cyprus companies is entitled for 2023.

EU Expands List of Non-Compliant Tax Jurisdictions to Include Russia, BVI, Costa Rica, and Marshall Islands

The EU Council revised its list of non-cooperative jurisdictions for tax purposes on 14 February 2023, adding Russia, the British Virgin Islands (BVI), Costa Rica and the Marshall Islands.

Public Interest Rate for 2023

With a decree issued on 28 December 2022, the Minister of Finance of the Republic of Cyprus has increased the public interest rate for 2023 to 2.25% (2022: 1.75%).

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