Deadline for Submission of 2019 Tax Returns Extended
The Ministry of Finance of the Republic of Cyprus issued a decree on 12 March 2021 based on which the deadline for submission of…
Cyprus – Russia Double Tax Treaty: Amending Protocol Comes in to Effect
The ratification procedure has been completed and the protocol came in to effect on 15 January 2021 and it is applicable as from…
Reference Interest Rates for 2021 for Notional Interest Deduction on New Equity
The Cyprus Tax Department published on 12 February 2021 the bond yield rates per country as at 31 December 2020 to be considered for the Notional Interest Deduction (NID) to which equity…
Imposition of Administrative Fines Related to Late DAC6 Reporting
On 26 February 2021 the Tax Department announced that there will be no imposition of administrative fines for overdue submission of DAC6 information that will be submitted until the 30 June 2021, related to…
Cyprus and Germany Sign an Amending Protocol to their Double Tax Treaty
On 19 February 2021 Cyprus and Germany signed an amending protocol to their existing Double Tax Treaty (DTT) of 2011.
Ultimate Beneficial Owner Register for Companies – Starting on 16 March 2021
The Registrar of Companies announced on 19 February 2021 that the final starting date for collection of data will be on 16 March 2021.
Payment of VAT in Instalments due to COVID-19
On 9 February 2021, an amendment to the VAT Law was published in the Official Gazette of the Republic, allowing for the VAT due on VAT returns ending…
Cyprus Tax Department Extends Guidance Related to Tax Residency During the COVID-19 Crisis
A new Implementing Directive was issued on 25 January 2021, which extends the provisions of Directive 4/2020 for the year 2021.
Double Tax Treaty Between Cyprus and Egypt Enters in to Force
The Cyprus Tax Department has recently announced that the ratification procedure was completed in both countries and the new DTT has entered…
Extension of DAC6 Reporting Deadlines
On 3 February 2021 the Cyprus Tax Department announced that the EU Directive on Administrative Cooperation, commonly known as DAC6, is expected…