Public Interest Rate for 2022
With a decree issued on 31 December 2021, the Minister of Finance of the Republic of Cyprus has kept the…
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Special Contribution for Defense and General Healthcare System Withheld on Dividend and Interest Payments
The deadline for electronic submission of the declarations for Special Contribution for Defense and General Healthcare System contributions withheld on...
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Cyprus and Jordan Sign a Double Tax Treaty
On 17 December 2021 Cyprus and Jordan signed a Double Tax Treaty. The treaty is based on the new OECD…
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Earnings Threshold for Employment Contribution Purposes for 2022
The earnings cap for Social Insurance purposes for 2022 has increased to €58,080 per annum (2021: €57,408 per annum).
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Country by Country Reporting – Extension of Deadline
The Cyprus Tax Department announced on 20 December 2021 that the submission deadline for Country-by-Country (CbC) Reporting obligations in Cyprus…
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Further Extension of Deadline for Payment of Annual Levy for 2021
On 21 December 2021 the Cyprus Registrar of Companies announced that the deadline for payment of the Annual Levy for…
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Introduction of Incorporation Test for Tax Residency and Withholding Taxes
On 9 December 2021 the Cyprus Parliament approved some amendments to the Income Tax law and the law on Special…
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Deemed Dividend Distribution
The Deemed Distribution (DD) provisions apply where a Cyprus tax resident company has not distributed as a dividend at least…
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Protocol to Double Tax Treaty Between Cyprus and Switzerland Entered in to Force
The Protocol, which entered in to force on 3 November 2021, introduces, among others, minimum standards of the OECD Base…
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