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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Holidays Are Coming
There is still a long way to go before we can claim that we got our lives back, but there…
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No Administrative Fines for Submission of Tax Returns until 6 December 2021
The Ministry of Finance of the Republic of Cyprus announced on 1 December 2021 that there will be no imposition…
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DAC 6 – Tax Circular Providing Clarifications on Penalties
On 19 November 2021 the Cyprus Tax Department issued a Circular providing clarifications on the administrative fines imposed for non-compliance…
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DAC 6 – Further Extension to the Imposition of Administrative Fines for Overdue Submission of Information
On 22 November 2021 the Cyprus Tax Department announced a further extension to the period over which no administrative...
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DAC6 – Publication of the official guidelines for implementation in Cyprus
On 29 October 2021 a Decree by the Cyprus Ministry of Finance was published in the Official Gazette of the…
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Ultimate Beneficial Owner Register – Simplification of Submission Procedure
On 29 October 2021 the Cyprus Registrar of Companies announced that as from that day the submission of information to…
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