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News & Publications

14
Jul

Immovable Property – Deposit Of Sale Contract With The Land Registry Department

The Contract by which a Property in Cyprus is sold can be deposited (filed) to the Lands Registry Department of the Republic of Cyprus, after it is signed by the contracting parties and before the transfer of the Immovable Property to the Purchaser’s name. The Contract of Sale, also commonly referred to as the Sale...
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Amendments To The Income Tax Law
08
Jul

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...
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Update on COVID-19 Measures
06
Jul

July 6th 2022 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...
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Transfer Pricing Requirements
04
Jul

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...
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14
Jun

Court Decisions On Amendments To Law

In accordance with Article 140 of the Constitution of the Republic of Cyprus, prior to the publishing of an indented legislation voted by the Parliament, the President of the Republic of Cyprus, is entitled to refer said legislation to the Supreme Court of the Republic, in order for the Court to opine as to whether...
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