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

Cyprus Government has proceeded to extend, ad of the end of November 2021, the regulations relating to the granting of tax relief on loan restructurings. Persons can benefit from this scheme due to the extension which is now valid until the 31st December 2022. The exemptions and incentives granted are: No payment of stamp duty...Read More

As on the 15 October 2021 the Cyprus government presented its Action Plan for attracting companies to operate or expand their activities in Cyprus, in an attempt to make the island a Sustainable Business and Trade Centre of the broader region and Europe. The new tax incentive strategy has been prepared in a manner consistent...Read More

Tax Submission Deadlines Extended We would like to inform you that in accordance with the Decree issued on 12 March 2021 under Κ.Δ.Π. 105/2021, the following tax submission deadlines are extended to the 30th of September 2021: Electronic submission of the 2019 corporate income tax return (TD4), and Electronic submission of the 2019 personal income...Read More

Extension of Deadline for the Submission of Personal Income Tax Statements We would like to inform you that in accordance with the Decree issued on the 27 November 2020 under Κ.Δ.Π. 562/2020, the following deadlines have been extended to the 15 December 2020: Electronic submission of the 2019 personal income tax return by employees and...Read More

Pursuant to the latest discussions and talks between the Republic of Cyprus and the Russian Federation, an agreement has been concluded for the amendment to the Double Tax Treaty between Cyprus and the Russian Federation. The following announcement was issued on the 11th August 2020 by the Ministry of Finance of the Republic of Cyprus:...Read More

The Cyprus tax authorities announced on 24 September 2019 that individuals who had purchased undeveloped building land on or after 2 January 2018 for the sole purpose of constructing a dwelling to be used as their principal and permanent place of residence would be entitled to a partial refund of the VAT paid. VAT originally...Read More

Cyprus – Yacht Leasing Guidelines for VAT Matters The Cyprus Tax Authority issued its relevant Circular during the first semester of 2019, to provide guidance as to the implementation of VAT and the way leasing of pleasure yachts will be taxed going forward as well as the procedure to be followed in relation to the...Read More

The purpose of this email is to inform you about the requirements of the Cyprus Tax Legislation (Assessment and Collection Law as amended in 2002, article 24) regarding the filing of temporary tax returns and relevant temporary tax payments for the year 2019. Please note that a Temporary Tax Assessment of the estimated net taxable...Read More

Cyprus is continuing its ongoing efforts to increase its global network of Double Tax Treaties and in this respect Cyprus and Kazakhstan have, on 15 May 2019, signed a Double Tax Treaty (the “DTT”) aiming to enhance the economic and trade relations between the two states, while bringing new opportunities and better protection for taxpayers...Read More