On 1 September 2023the Cyprus Registrar of Companies issued an announcement in view of the upcoming implementation of the final solution of the electronic system of the Register of Beneficial Owners that is expected to take place around the end of October 2023.
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.
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.
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