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Imposition of Administrative Fines Related to Late DAC6 Reporting
01/03/2021

On 26 February 2021 the Tax Department announced that there will be no imposition of administrative fines for overdue submission of DAC6 information that will be submitted until the 30 June 2021, related to...

Payment of VAT in Instalments due to COVID-19
11/02/2021

On 9 February 2021, an amendment to the VAT Law was published in the Official Gazette of the Republic, allowing for the VAT due on VAT returns ending...

Cyprus Tax Department Extends Guidance Related to Tax Residency During the COVID-19 Crisis
10/02/2021

A new Implementing Directive was issued on 25 January 2021, which extends the provisions of Directive 4/2020 for the year 2021.

Extension of DAC6 Reporting Deadlines
03/02/2021

On 3 February 2021 the Cyprus Tax Department announced that the EU Directive on Administrative Cooperation, commonly known as DAC6, is expected...

Reductions in Cyprus Tonnage Tax for Environmentally Friendly Vessels
21/01/2021

The Cyprus Shipping Deputy Ministry announced incentives for encouraging emission-reduction and protection of the environment by vessels.

Ultimate Beneficial Owner Register for Companies – Change in Starting Date
15/01/2021

The Registrar of Companies announced on 15 January 2021 that the collection of data will begin on 22 February 2021... 

Cyprus Implements Ultimate Beneficial Owner Register for Companies
08/01/2021

On 16 December 2020, the Council of Ministers of the Republic of Cyprus took some decisions related to the implementation of the provisions of the 4th EU AML Directive  for what concerns the creation of a register for the Ultimate Beneficial Owners...

Increase in Earnings Cap for Employment Contribution Purposes
23/12/2020

The earnings cap for Social Insurance purposes for 2021 will increase to €57,408 per annum (2020: €54,864 per annum). It is reminded...

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