NEWSROOM

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...

Public Interest Rate for 2023
11/01/2023

With a decree issued on 28 December 2022, the Minister of Finance of the Republic of Cyprus has increased the public interest rate for 2023 to 2.25% (2022: 1.75%).

UBO Register – Obliged Entities
10/01/2023

With an announcement on 3 January 2023, the Registrar clarified that obliged entities must submit a Solemn Declaration along with their application for provision of UBO information...

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.

Christmas Wishes
15/12/2022

Whether it relates to guarding ourselves from viruses, avoiding war or any other conflict, treatment of refugees, protection of the environment, or any other aspect of our lives, we should not forget that we are all human beings and we all have an equal right of living...

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