Grace Period for Filing of Corporation Tax Return and SIT for 2022
On 12 February 2025 the Cyprus Tax Department announced that while the deadline for submission of the Corporation Tax Return for 2022 for taxpayers with an obligation to submit a Summary Information Table remains on 28 February 2025, no penalties will be imposed for late submission as long as this happens before 31 May 2025.
Double Tax Treaty between Cyprus and Luxembourg enters in to force
The Double Tax Treaty between Cyprus and Luxembourg entered into force on 21 May 2018
Double Tax Treaty between Cyprus and Andorra Enters in to Force
Some important amendments to the Cyprus Companies’ Law have been introduced recently…
Holidays Are Coming
There is still a long way to go before we can claim that we got our lives back, but there is no doubt that great virtues have been demonstrated by people all over the world in overcoming all hurdles…
Best wishes from Seamark!
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 of administrative fines for the electronic submission…
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…