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…
Reductions in Cyprus Tonnage Tax for Environmentally Friendly Vessel
The Cyprus Shipping Deputy Ministry announced incentives for encouraging emission-reduction and protection of the environment by vessels.
Ultimate Beneficial Owner Register for Companies – Change in Starting Date
The Registrar of Companies announced on 15 January 2021 that the collection of data will begin on 22 February 2021…
Cyprus Implements Ultimate Beneficial Owner Register for Companies
On 16 December 2020, the Council of Ministers of the Republic of Cyprus took some decisions related to the implementation of the provisions of the 4th EU AML Directive for what concerns the creation of a register for the Ultimate Beneficial Owners…
Protocol to Double Tax Treaty between Cyprus and Switzerland approved by Swiss Federal Council
On 11 November 2020, the Swiss Federal Council adopted the Protocol.
Increase in Earnings Cap for Employment Contribution Purposes
The earnings cap for Social Insurance purposes for 2021 will increase to €57,408 per annum (2020: €54,864 per annum). It is reminded…