As of mid-November, the Republic of Cyprus and the Republic of India signed a Double Tax Treaty in relation to taxation on income.Read More

By way of Circular No. 2016/10 issued by the Cyprus Tax Authorities on the 1st August 2016, further information and clarifications were given as to the application of this Scheme and the interpretation of its various terms and definitions, which are expected to provide valuable guidance as toRead More

By a decision of the House of Representatives in July 2016, amendments have been made to the Immovable Property Tax Law (the “Property Tax”). The amendments have been published in the Official Government Gazette as of the 25 July 2016 and have taken effect as of that date, andRead More

Cyprus and Jersey signed a treaty for the avoidance of double taxation on income based on the model convention for the avoidance of double taxation of the Organisation of Economic Cooperation and Development (OECD), the finance ministry said.Read More

SINCE September 2015, and the adoption of the Immovable Property Transfer and Mortgage Law (Amendment) (No. 10) Law of 2015) (hereinafter, the “Law”), thousands of applications have been made with the District Land Registries in Cyprus by enclaved buyers of immovable property,Read More

The law firm of G. Vrikis & Associates LLC would like to inform you that in accordance with the Decree issued by the Council of Ministers regarding the imposition of a fee for the issuance of a tax ruling in late April 2016, the Tax Authorities have now announced further details in relation to the...Read More

Cyprus has been hard at work at expanding its network of Double Tax Treaties, high significant success. As of 2015, Cyprus has concluded three (3) new Doubt Tax Treaties with:Read More

In an effort to assist the Cyprus-based Financial Institutions tackle the Non-Serviced loans, the Cyprus Government has introduced a scheme which offers various tax breaks and/or reduced fees and levies payable to governmental authorities when a loan is restructured with the purpose of making it viable or to be repaid, and such restructuring involves the...Read More

The Cyprus Ministry of Finance Cypriot Ministry of Finance has announced in late December 2015 that it will promote amendments to the current Cyprus Intellectual Property (IP) tax regime in order to introduce a new IP tax regime as from 1 July 2016.Read More

The Ministry of Finance has issued a Decree as to the application of the Organisation of Economic Cooperation and Development Common Reporting Standard (‘’CRS’’) and the Multilateral Competent Authority Agreement on the Automatic Exchange of Financial Account Information.Read More