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ATAD 3: EU Unshell Directive
06/04/2023

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
22/03/2023

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.

Termination of Special Tax Treatment for “Back to Back” Financing Arrangements
17/01/2023

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...

Clarifications on Country by Country Reporting Agreement between Cyprus and the USA
24/10/2022

Through an announcement issued on 13 October 2022 the Cyprus Tax Department clarified that the bilateral Competent Authority Arrangement for the exchange of...

Transfer Pricing Rules in Cyprus – Guidance by Tax Authorities
30/09/2022

The Cyprus Tax Department issued a notification providing guidance related to the Transfer Pricing (TP) documentation requirements.

Country by Country Reporting – 31 December 2022 Deadline
21/09/2022

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...

Introduction of Transfer Pricing Rules in Cyprus
05/07/2022

On 30 June 2022, the Cyprus Parliament voted in to law a package of measures introducing detailed Transfer Pricing (TP) requirements for businesses. The measures are in line with...

Country by Country Reporting – Extension of Deadline
29/12/2021

The Cyprus Tax Department announced on 20 December 2021 that the submission deadline for Country-by-Country (CbC) Reporting obligations in Cyprus due to the secondary filing mechanism...

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