Transfer Pricing Circular for Transactions Under the Local File Threshold

The Cyprus Tax Department issued a circular for transactions falling below the threshold for the preparation of a Local File.

Extension of VIES Deadline

The Tax Department announced on 3 May 2023 that the deadline for submission of VIES forms for April 2023 is also extended to 26 May 2023.

Further Extension of VAT Deadline

The Tax Department announced on 20 April 2023 that the deadline for submission of VAT returns, and payment of any amount due, for the VAT period from 1 December 2022 to 28 February 2023 is further extended to 10 May 2023.

ATAD 3: EU Unshell Directive

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”.

Extension of VAT Return Submission Deadline

The Tax Department announced on 17 March 2023 that the deadline for submission of VAT returns is extended as follows...

Tax For All Portal Going Live

The Tax Department announced that the Tax For All Portal will go live on 27 March 2023.In the announcement the Tax Department communicated the following  deadlines for submissions and payments.

EU Expands List of Non-Compliant Tax Jurisdictions to Include Russia, BVI, Costa Rica, and Marshall Islands

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.

Gradual Implementation of Tax For All Portal

Οn 17 January 2023, the Tax Department announced the commencement of the gradual implementation of the Tax For All (TFA) Portal. The portal is intended to replace in stages the TAXISnet platform as well as other systems and procedures.

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