Termination of Special Tax Treatment for “Back to Back” Financing Arrangements

Through a circular issued on 5 January 2023, the Cyprus Tax Authorities announced that the provisions of circulars issued in the past about the so called “back-to-back” financing arrangements...

Public Interest Rate for 2023

With a decree issued on 28 December 2022, the Minister of Finance of the Republic of Cyprus has increased the public interest rate for 2023 to 2.25% (2022: 1.75%).

UBO Register – Obliged Entities

With an announcement on 3 January 2023, the Registrar clarified that obliged entities must submit a Solemn Declaration along with their application for provision of UBO information...

Earnings Threshold for Employment Contribution Purposes for 2023

The earnings cap for Social Insurance purposes for 2023 has increased to €60,060 per annum (2022: €58,080 per annum).
It is reminded that the contributions an employer is required to make...

Deemed Dividend Distribution as at 31 December 2022

Companies with accounting profits for tax year 2020 which fall within the Deemed Distribution (DD) provisions, would have to declare a sufficient amount of dividend, in order to meet the 70% threshold of distributed profits on or before 31 December 2022.

Christmas Wishes

Whether it relates to guarding ourselves from viruses, avoiding war or any other conflict, treatment of refugees, protection of the environment, or any other aspect of our lives, we should not forget that we are all human beings and we all have an equal right of living...

UBO Register for Investment Funds – Important Clarifications

The Cyprus Registrar of Companies through an announcement issued on 9 December 2022, clarified that what should be declared is the latest available information about a beneficial owner of an investment fund.

Cyprus Registrar of Companies Suspends Access to UBO Register

The Cyprus Registrar of Companies announced on 28 November 2022 that access to the UBO Register for the general public is suspended with effect from 23 November 2022.

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