Posts Tagged ‘EU’

Announcement by Registrar of Companies for UBO Register

On 1 September 2023 the 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.

Transfer Pricing - Assessment Method for Financing Transactions

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.

Transfer Pricing Circular for Transactions Under the Local File Threshold

The Cyprus Tax Department issued a circular for transactions falling below the threshold for the preparation of a Local File.

Double Tax Treaty Between Cyprus and the Netherlands Enters in to Force

The ratification procedure in both countries has been completed and the Double Tax Treaty will enter in to force on 30 June 2023. It will generally apply as from 1 January 2024.

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.

Amendments to the Cyprus Permanent Residence Permit Programme

To address some shortfalls of the Programme, important amendments were introduced with effect on 2 May 2023. These amendments are...

ATAD 3: EU Unshell Directive

The Directive targets EU tax resident entities that are engaged in cross-border economic activities but have little or no economic substance, known as “shell entities”.

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.

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