Cyprus Adopts Exit Tax and Hybrid Mismatch ATAD Provisions

On 19 June 2020, the Cyprus Parliament voted into law the provisions of the EU Anti-Tax Avoidance Directives (ATAD I and ATAD II), which had not been transposed in to local legislation before...

EU Council Approves Deferral of DAC6 Reporting Deadlines

The Directive gives Member States the option to defer the application of what is known as DAC6 by six months... 

Notional Interest Deduction on New Equity: Amendments

The provisions of the Income Tax Law related to the Notional Interest Deduction (NID) on New Equity were amended...

Deadline for Submission of 2018 Tax Returns Further Extended

Through a Decree issued on 22 May 2020, the Cyprus Tax Department announced that the deadline is further extended...

EU Commission Proposes Deferral of DAC6 Reporting Deadlines

The EC published a press release on 8 May 2020 proposing a deferral of the reporting deadlines under DAC6 by three months

Deadline for Payment of Social Insurance Contributions for March 2020 Extended

The Cyprus Ministry of Labour announced on 2 May 2020 that the deadline for the payment of Social Insurance and related contributions for March...

Cyprus Tonnage Tax System Extension Approved by Parliament

On 15 April 2020 the Cyprus Parliament voted in the law the extension of the Tonnage Tax system applicable to the shipping industry in Cyprus...

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