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Tax For All Portal Going Live
16/03/2023

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
20/02/2023

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.

Transfer Pricing Rules in Cyprus – FAQs by Tax Authorities
15/02/2023

The Cyprus Tax Department issued a series of Frequently Asked Questions (FAQs) on its website, providing guidance on certain aspects of the Transfer Pricing Rules introduced with effect from 1 January 2022.

Foreign Interest Companies – Important Amendment
01/02/2023

On 30 November 2022, the Council of Ministers approved the Amendment of the Policy for the Registration of Companies in the Register of Foreign Interest Companies. The decision entered into force on 12 December 2022.

Gradual Implementation of Tax For All Portal
30/01/2023

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.

Termination of Special Tax Treatment for “Back to Back” Financing Arrangements
17/01/2023

Through a circular issued on 5 January 2023, the Cyprus Tax Authorities announced that the provisions of circulars issued in the past about the so called “back-to-back” financing arrangements...

Earnings Threshold for Employment Contribution Purposes for 2023
09/01/2023

The earnings cap for Social Insurance purposes for 2023 has increased to €60,060 per annum (2022: €58,080 per annum).
It is reminded that the contributions an employer is required to make...

Deemed Dividend Distribution as at 31 December 2022
16/12/2022

Companies with accounting profits for tax year 2020 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 2022.

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