New Package of Incentives for Establishing or Expanding Presence in Cyprus
On 15 October 2021 the Cyprus government presented its Action Plan for attracting companies to establish or expand presence in Cyprus. The Plan is in line with…
Inheritance and Estate Planning – Company or Trust?
In this newsfeed we will focus on two popular Cyprus entities, which can be used for arranging and administering the wealth of a family in order to ensure its smooth and careful transmission from…
Further Extension to Deadline for Submission of 2019 Tax Returns
The Ministry of Finance of the Republic of Cyprus issued a decree on 24 September 2021 based on which the deadline for submission of…
DAC 6 – Further Extension of Period With No Administrative Fines
On 21 September 2021 the Cyprus Tax Department announced an extension to the period over which no administrative fines for overdue submission of DAC6 information will be imposed.
Reductions in Cyprus Tonnage Tax for Environmentally Friendly Vessels – Procedure and Arrangements
Through a Circular issued by the Shipping Deputy Ministry on 3 September 2021, the relevant procedure and practical arrangements for qualifying with those incentives has been determined.
Changes to Employment and Social Insurance Regulations
The Cyprus Ministry of Labour, Welfare and Social Insurance has recently announced that on 13 September 2021, the Social Insurance…
Setting Up in Cyprus: Company-Officers-Premises
We will consider whether to form a company in Cyprus or redomicile a foreign company to the country. We will also contemplate alternatives concerning premises, as well as for sourcing and appointing officers for the company.
Extended Deadline for Payment of Residual Income Tax for 2020
Through a directive issued on 30 July 2021 by the Minister of Finance, the a deadline has been extended…
Income Tax Return for 2020: Further Extension of Submission Deadline
The Cyprus Tax Department has recently announced that the deadline for submission of the Income Tax Return for 2020 will be extended further from…
Extension of Deadline for Payment of Annual Levy for 2021
The Cyprus Registrar of Companies announced on 8 July 2021 that the deadline for payment of the Annual Levy for 2021 has been extended from 30 June 2021 to 31 December 2021.