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Transfer Pricing Rules in Cyprus – Additional FAQs by Tax Authorities
The Cyprus Tax Department issued additional Frequently Asked Questions (FAQs) on its website, providing guidance on certain aspects of the…
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EU Expands List of Non-Compliant Tax Jurisdictions to Include Russia, BVI, Costa Rica, and Marshall Islands
The EU Council revised its list of non-cooperative jurisdictions for tax purposes on 14 February 2023, adding Russia, the British…
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Transfer Pricing Rules in Cyprus – FAQs by Tax Authorities
The Cyprus Tax Department issued a series of Frequently Asked Questions (FAQs) on its website, providing guidance on certain aspects…
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Foreign Interest Companies – Important Amendment
On 30 November 2022, the Council of Ministers approved the Amendment of the Policy for the Registration of Companies in…
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Termination of Special Tax Treatment for “Back to Back” Financing Arrangements
Through a circular issued on 5 January 2023, the Cyprus Tax Authorities announced that the provisions of circulars issued in…
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Public Interest Rate for 2023
With a decree issued on 28 December 2022, the Minister of Finance of the Republic of Cyprus has increased the…
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UBO Register – Obliged Entities
With an announcement on 3 January 2023, the Registrar clarified that obliged entities must submit a Solemn Declaration along with…
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Earnings Threshold for Employment Contribution Purposes for 2023
The earnings cap for Social Insurance purposes for 2023 has increased to €60,060 per annum (2022: €58,080 per annum). It…
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Deemed Dividend Distribution as at 31 December 2022
Companies with accounting profits for tax year 2020 which fall within the Deemed Distribution (DD) provisions, would have to declare…
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