Deadline for Payment of Residual Income Tax for 2019
The statutory deadline for the payment of any residual (i.e. after taking in to account any tax which was paid provisionally) income tax due for the year 2019 for …
Cyprus Adopts Exit Tax and Hybrid Mismatch ATAD Provisions
On 19 June 2020, the Cyprus Parliament voted into law the provisions of the EU Anti-Tax Avoidance Directives (ATAD I and ATAD II), which had not been transposed in to local legislation before…
EU Council Approves Deferral of DAC6 Reporting Deadlines
The Directive gives Member States the option to defer the application of what is known as DAC6 by six months…
Reduction in VAT rate applicable to hospitality and transportation services
The reduction of the VAT rate applicable to the hotel and related accommodation, catering and transportation services from 9% to 5% will be applicable from 1 July 2020 to 10 January 2021.
Notional Interest Deduction on New Equity: Amendments
The provisions of the Income Tax Law related to the Notional Interest Deduction (NID) on New Equity were amended…
Deadline for Submission of 2019 Personal Income Tax Returns Extended
The Ministry of Finance of Cyprus extended the deadline for submission of the 2019 personal income tax return to 30 October 2020…
Deadline for Submission of 2018 Tax Returns Further Extended
Through a Decree issued on 22 May 2020, the Cyprus Tax Department announced that the deadline is further extended…
EU Commission Proposes Deferral of DAC6 Reporting Deadlines
The EC published a press release on 8 May 2020 proposing a deferral of the reporting deadlines under DAC6 by three months
Deadline for Payment of Social Insurance Contributions for March 2020 Extended
The Cyprus Ministry of Labour announced on 2 May 2020 that the deadline for the payment of Social Insurance and related contributions for March…
Imposition of Penalties for Late Filing by Registrar of Companies – Revised Effective Date Announced
Further to our previous newsfeed on the measures announced by the Cyprus Registrar of Companies (the “Registrar”) for supporting businesses in response to the restrictive provisions imposed due to the coronavirus (COVID-19) outbreak, the Registrar announced on 16 April 2020 that the imposition of an administrative fine for late filing of certain forms and notifications will be […]