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 with DAC6 reporting obligations.
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…
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 Republic.The Decree provides practical guidance with respect…
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 the Ultimate Beneficial Owner Register…
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…