EnglishNicosiaNicosiaLimassol Mon - Fri 08:00-18:00 +357 22 261 777 Mon - Fri 09:00-18:00 +357 25 261 777
info@vrikislegal.com Subscribe to our newsletter

By

George Vrikis
Amendments To The Income Tax Law
As on the 7th July 2022, the Cyprus House of Representatives passed amendments to the Income Tax Law, as follows: Increased deduction by 20% on the actual expenditure incurred on scientific research as well as research and development. According to the new provisions of the Law, an increased deduction of 20% will be granted on...
Read More
Update on COVID-19 Measures
In the last days, there has been a world-wide increase in all epidemiological indicators, as well as in the number of hospitalized individuals. The increase in infections is due to BA.4, BA.5 variants and their evolutionary sub-strains. Specifically, according to data from the Epidemiological Surveillance Unit of the Ministry of Health, from 25 June until...
Read More
Transfer Pricing Requirements
Introduction of Transfer Pricing Documentation Requirements in Cyprus On 30th June 2022 the Cyprus Parliament approved the long awaited amendments to the Cyprus Income Tax Law and new Regulations to introduce Transfer Pricing (“TP”) documentation compliance obligations which closely follow the OECD TP Guidelines (as amended from time to time). The amendments to the Income...
Read More
An important update to the Cyprus Companies Law, Cap 113, has been introduced as of the 9th June 2022, with the aim of simplifying accounting and audit practices for small size companies. These amendments shall become active upon publication in the Cyprus Gazette, and are summarized below. According the amendments of the Companies Law, companies...
Read More
Amendments To The Special Contribution For Defence Tax
As of the 26th May 2022, the Cyprus Parliament approved amendments to the Special Defence Contribution (“SDC”) Law, whereby the SDC has been lowered to the rate of three percent (3%) relating to interest income which is derived by or from certain sources. According to the new provisions of the Law, the reduced rate will...
Read More
Permanent Residence And Work Permits
As of the 27th May 2022, the Council of Ministers of the Republic of Cyprus has approved new Regulations governing immigration permits which can be granted to individuals coming from 3rd countries (non-EU), as follows: Aliens can be employed or reside in Cyprus, when they have an insured income of €40,000 per year, privately owned...
Read More
Immigration Permits For Students Updated
As of the 11th May 2022, the Ministry of Labour and Social Insurance of the Republic of Cyprus, in exercising its powers under paragraph (1) of Article 24 of Foreigners and Immigration (entry conditions and residence of third country nationals with the purpose of search, studies, practice, volunteer service, student exchanges of educational programs) Law...
Read More
Digital Nomad VISA
The Cyprus Digital Nomad Visa Scheme was introduced in Cyprus with effect from October 15, 2021, pursuant to the decision of the Council of Ministers. Central to the new Scheme’s goals is, the strengthening and promotion of Cyprus as a hub for the provision of digital and electronic services and, in achieving this, contributing to...
Read More
Cyprus – The 60-day Tax Residency Certificate
The following new circular which was issued by the Tax Authorities in Cyprus in early 2022, provides additional guidance and clarity as to the tax residency according to the legal provision of the 60-day stay in the Republic of Cyprus, under the Income Tax Law, Article 2. Application of the 60-day rule for obtaining tax...
Read More
COVID-19 Additional Restrictive Measures
As per the new restrictive measures announced on the 21st December 2021, the following shall be applicable: the re-opening of schools after the Christmas holidays on 10 Januaryand upon the students’ return, all students, teachers and other school staff must present a negative 72 hour-PCR laboratory test or 48-hour rapid antigen test. the extension of all other provisions of...
Read More
1 2

Categories