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.
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.
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%).
On 26 of May 2022, the Cyprus Parliament approved an important amendment to the Special Contribution for Defense (“SCD”) Law, for what concerns taxation of interest income.
The Cyprus Tax Department published on 3 February 2022 the bond yield rates per country as at 31 December 2021 to be considered for the Notional Interest Deduction...
The Protocol amending the Double Tax Treaty between Cyprus and Germany entered in to force on 8 December 2021.
The Cyprus Tax Department issued, on 24 January 2022, a set of Frequently Asked Questions related to financing arrangements between related parties of a so called Back to Back nature.
The Tax Department announced on 26 January 2022 that the deadline for electronic submission of the declarations for Special Contribution for Defense (SCD) and General Healthcare System (GHS) contributions...