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Exemption from Submission of Personal Income Tax Return for 2021
16/02/2022

Through a decree by the Council of Ministers of the Republic of Cyprus issued on 4 February 2022, individuals whose gross annual income is below...

Reference Interest Rates for 2022 for Notional Interest Deduction on New Equity
10/02/2022

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...

Cyprus and Germany Double Tax Treaty: Protocol Entered in to Force
07/02/2022

The Protocol amending the Double Tax Treaty between Cyprus and Germany entered in to force on 8 December 2021.

Frequently Asked Questions on Back to Back Financing Arrangements
04/02/2022

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.

Withholdings on Dividend and Interest Payments – Extension of Deadline for Submission of Declarations
26/01/2022

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...

Cyprus and Jordan Sign a Double Tax Treaty
10/01/2022

On 17 December 2021 Cyprus and Jordan signed a Double Tax Treaty. The treaty is based on the new OECD Model Tax Convention and includes all the minimum standards of the...

Earnings Threshold for Employment Contribution Purposes for 2022
05/01/2022

The earnings cap for Social Insurance purposes for 2022 has increased to €58,080 per annum (2021: €57,408 per annum).

Introduction of Incorporation Test for Tax Residency and Withholding Taxes
22/12/2021

On 9 December 2021 the Cyprus Parliament approved some amendments to the Income Tax law and the law on Special Contribution for Defence related to...

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