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.
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”.
The EU Council revised its list of non-cooperative jurisdictions for tax purposes on 14 February 2023, adding Russia, the British Virgin Islands (BVI), Costa Rica and the Marshall Islands.
Through an announcement issued on 13 October 2022 the Cyprus Tax Department clarified that the bilateral Competent Authority Arrangement for the exchange of...
31 December 2022 is the submission deadline for the following Country-by-Country (CbC) Reporting obligations in Cyprus:
• Submission of CbC Reports for the 2021 Reporting Fiscal Year...
The Cyprus Registrar of Companies issued an announcement on 24 May 2022, informing that as from 1 June 2022 access to information regarding the Register of Ultimate Beneficial Owners of companies and other legal entities will be available...
The Cyprus Securities and Exchange Commission (CySEC) announced the launch of an online platform, which will accommodate the register for Ultimate Beneficial Owners (UBOs) of Trusts.
The Cyprus Registrar of Companies issued an announcement on 11 April 2022, providing important clarifications with regards to the companies, which are required to submit...
