Foreign Tax and 10% extra tax

Summary On 9 February 2018, the Cyprus Tax Department issued Interpretative Tax Circular 18 clarifying that the additional tax of 10% imposed in the case of low self-assessment, shall be calculated [...]

Double Tax Treaty between Cyprus and Saudi Arabia

On 3 January 2018, the governments of Cyprus and Saudi Arabia signed an agreement for the Avoidance of Double Taxation (DTA). The DTA was signed during the official visit [...]

By |2019-08-20T10:53:06+00:00January 8th, 2018|Alerts, Direct Tax, Holding, Individuals, Investments, Real Estate, Royalty|

Cyprus Tax Guide 2018

Our Information Sheet Cyprus Tax Guide 2018 summarises the main taxes applicable in Cyprus on companies and individuals. Information Sheet: Cyprus tax Guide 2018

Cyprus Capital Duty

Upon the incorporation of a Cyprus company and any subsequent increase of its share capital, there is capital duty payable at the Registrar of Companies. Set out below is [...]

EU list of non-cooperative tax jurisdictions

On 5 December 2017, the Economic and Financial Affairs Council of the EU (ECOFIN) issued a list of non-EU non-cooperative jurisdictions for tax purposes. The list includes 17 jurisdictions [...]

Russia implemented CRS – Are you ready?

On 27 November 2017, the Russian President signed bill No. 231414-7 (in Russian) effectively enabling the implementation of automatic exchange of information of the Russian Federation with other participating [...]

Temporary Tax December 2017 | Προσωρινη Φορολογια Δεκεμβριου 2017

  We would like to remind you that the date of payment of the second installment of your temporary tax for 2017 is 31 December 2017. Tax provisions on [...]

Deemed Dividend 2017 | Λογιζομενη Διανομη 2017

We would like to remind you of the Deemed Dividend Distribution tax return that must be submitted to the Cyprus tax authorities by 31 January 2018 and the settlement [...]

Cyprus NID (Notional Interest Deduction)

The profits of a Cyprus company can be significantly reduced by shifting profits to a zero-tax offshore jurisdiction. Although this may create significant tax savings for the Cyprus company [...]