The Cyprus Tax Department issued new Frequently Asked Questions (FAQs) on its website, providing guidance on certain aspects of the Transfer Pricing rules introduced with effect from 1 January 2022.
The Cyprus Tax Department issued an announcement related to the Quality Assurance Declaration, which auditors and tax advisors are required to submit in relation to Local Files and Summary Information Tables...
On 20 May 2024 the Cyprus Tax Department announced that as from 27 May 2024 the Summary Information Table will be submitted only though the Tax For All Portal.
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...
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”).
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.