Administrator

May 7, 2021

2021 EU VAT E-commerce changes

New VAT rules will be introduced by the EU regarding e-commerce after July 1st, 2021  Two major forces have exposed the need for a radical update of the current EU VAT regime, as it is contained within the Council Directive 2006/112/EC (the ‘EU VAT Directive’)
April 12, 2021

Brexit VAT News

On 18 March 2021 the Cyprus Parliament enacted into law the relevant EU Directives in respect of reportable cross-border arrangements, commonly known as DAC6. The law was published in the Official Gazette of the Republic on 31 March 2021.
April 6, 2021

DAC 6

On 18 March 2021 the Cyprus Parliament enacted into law the relevant EU Directives in respect of reportable cross-border arrangements, commonly known as DAC6. The law was published in the Official Gazette of the Republic on 31 March 2021.
April 2, 2021

Services between head office and its branch (C-812/19 – Danske Bank)

On 11 March 2021, the Court of Justice of the European Union (CJEU) released its long-anticipated judgment in the Danske Bank case. The case considers the VAT treatment of cross-border services where the supplier head office (Business Establishment) is locally VAT grouped, but the customer overseas branch (Fixed Establishment) is not. CJEU held that the principles established in the FCE Bank plc case (C-210/04) are not applicable where the head office is part of a VAT group and therefore the services between head office and branch are subject to VAT.
March 4, 2021

Business World March 2021

February 17, 2021

Cyprus Tax Facts 2021

This publication provides a brief overview of the Cyprus Tax Legislation effective as at the date of publication. It contains useful information about each particular tax law and it can be used by natural persons and/or legal entities in handling their tax affairs. The tax information provided by this publication is of general nature and therefore it cannot substitute proper professional advice which is always given after serious consideration of the merits of each case.
December 30, 2020

Amendments To The Special Contribution For Defence and the Income Tax Laws

A draft legislation is in place proposing imposition of withholding tax in Cyprus on dividends, interest and royalties payable to related parties who are tax resident in any of the EU non cooperative jurisdictions.
November 3, 2020

Effect of Covid 19 on Cyprus Tax Residency and Permanent Establishments

In early April 2020, the OECD released their guidance on how certain issues dealt with under the model OECD tax treaty will be affected by COVID-19. On 27 October 2020 Cyprus Tax Department published a Circular № 04/2020 based on these guidelines, clarifying the issues relating to residency during the pandemic.
September 8, 2020

Important Amendments To The Assessment And Collection Of Taxes Law – LAW 126(I)/2020

On 20th August 2020, the Cyprus Government published in the Official Government Gazette an amendment to the Assessment and Collection of Taxes Law that comprises a number of amendments to the mechanisms for implementing the direct tax laws.

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