Companies with accounting profits for tax year 2021 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 2023.
As from 1 January 2024, the Social Insurance Contribution rates for each of the employer and the employee are increased by 0,5% and for self-employed individuals by 1%.
The Cyprus Registrar of Companies announced that as from 14 November 2023 the final solution of the electronic system of the Register of Beneficial Owners of Corporate and Other Legal Entities has entered in to implementation.
On 17 October 2023 Cyprus and Croatia signed a Double Tax Treaty (DTT). The treaty was published in the Official Gazette of the Republic of Cyprus on 27 October 2023.
The EU Council revised its list of non-cooperative jurisdictions for tax purposes on 17 October 2023, adding Seychelles, Belize and Antigua and Barbuda.
The Cyprus Tax Department announced on 21 September 2023 that VAT returns can be corrected via the Tax For All Portal.
The Cyprus Registrar of Companies issued an announcement on 22 September 2023, clarifying that all companies which have applied for a strike-off from the registry...
On 13 September 2023 the Council of Ministers of the Republic of Cyprus approved the extension of the application of the zero rate of VAT on selected food and socially essential products.