NEWSROOM

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...

Increased Tax Deduction for Research and Development Expenses
11/07/2022

An amendment to the Income Tax Law (the ‘Law’) was voted by the Cyprus Parliament on 7 July 2022 in order to allow for an increased tax deduction on...

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...

Change of Data at the Registrar of Companies for Sanctioned Companies
01/06/2022

The Cyprus Registrar of Companies (the “Registrar”) announced on 30 May 2022 that for companies the name of which and/or the name of their shareholders, directors or ultimate beneficial owners...

Cyprus – Jordan Double Tax Treaty in Force
30/05/2022

The treaty entered in to force on 11 April 2022 and it generally applies as from 1 January 2023.

Extension of Income Tax 50% Exemption Approved by Council of Ministers
12/05/2022

The Council of Ministers approved on 10 May 2022 the significant improvement of an incentive aimed at attracting foreign companies and highly skilled staff to Cyprus.

Digital Nomad Visa – Extension of Number of Beneficiaries
08/03/2022

On 3 March 2022 the Council of Ministers of the Republic of Cyprus decided for the number of persons who can obtain a Digital Nomad Visa to be increased from 100, which was set initially, to 500.

Reference Interest Rates for 2022 for Notional Interest Deduction on New Equity
10/02/2022

The Cyprus Tax Department published on 3 February 2022 the bond yield rates per country as at 31 December 2021 to be considered for the Notional Interest Deduction...

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