As announced by the Tax Department on 21 February 2024, as part of the gradual implementation of the Tax For All platform, the Withholding Taxes and Contributions Return...
Through an announcement dated 23 February 2024, the Cyprus Tax Department notified a decree issued by the Council of Ministers of the Republic of Cyprus providing for the extension of the deadline...
Through a circular issued on 1 February 2024 the Cyprus Tax Department announced that the necessary procedures for ratification of the Double Tax Treaty between Cyprus and Croatia were completed...
On 1 February 2024, the Cyprus Tax Department published revised thresholds for what concerns the obligation to prepare a Local File for transactions with related parties (known as “Controlled Transactions”).
Following the implementation of EU Council Directive 2021/514 (DAC7), which amended Directive 2011/16 on administrative cooperation in the field of taxation (DAC), in to local legislation...
On 11 December 2023 Cyprus and France signed a Double Tax Treaty (DTT) which, once it enters in to force, will replace the existing treaty between the two countries, dated back in 1981.
Through an amendment approved by the Cyprus Parliament on 6 December 2023, the Special Contribution for Defence rate on interest income has been reduced from 30% to 17%.
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.
