On 21 February 2024, the President of the Republic of Cyprus announced the decision of the Council of Ministers to abolish the annual fee / company levy of €350, which has been a mandatory requirement for all companies registered with the Department of Registrar of Companies and Intellectual Property of Cyprus since the year 2011.
The abolishment will be effective from the year 2024 onwards.
Effective from 1 January 2017, an individual is considered a Cyprus tax resident if he/she:
does not spend more than a…
read moreAs from 13 November 2017, 19% VAT is imposed on the letting of immovable properties in Cyprus.
Imposition of VAT…
read moreThe tax incentives, provided to landlords for voluntarily reducing the rent charged to tenants – businesses, whose operations have…
read moreFrom 2 May 2017, all VAT registered companies and individuals are obliged to submit their VAT returns electronically through…
read moreUnder the new IP regime, 80% of qualifying profits generated from qualifying assets will be deemed to be tax…
read moreIFRS 9 – Financial Instruments
Tax treatment of provisions/impairment of receivables for tax purposes
bad debts proved to the satisfaction…
read moreOn 11 December 2018, an amendment to the Income Tax Law was published which provides certain tax incentives for…
read moreThe Deemed Dividend Distribution provisions apply to the profits of Cypriot tax resident companies that are attributable directly to…
read moreEffective from the tax year 2022 onwards, the simplification rules of 2.2857% on back to back loans etc. will…
read moreThe House of Representatives has voted an amendment to the Law regulating the settlement of overdue taxes, effective from 13…
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