Administrator

May 27, 2019

BVI: Economic Substance

The International Tax Authority (ITA) has now published a draft Economic Substance Code (Code) in respect of guidance and rules concerning the Economic Substance Act 2018 (ESA) for companies and limited partnerships.
May 9, 2019

VAT on Long-Term Leases of Immovable Property

The Cyprus Tax Department issued on 27 December 2018 an Interpretative Circular (EE229 – VAT treatment of the effective transfer of the right to use an immovable property), clarifying the treatment the application of the amending Act with number 39(I) of 2018 which has come into force on 1 January 2019.
May 8, 2019

Taxation of Long-Term Leasing of Yachts

In terms of the Guidelines issued by both the Cyprus Tax Department and the Maltese Revenue, the overall VAT liability incurred on the leasing of a yacht can be reduced substantially depending on the extent of the effective use and enjoyment of the yacht within EU territorial waters.
February 20, 2019

Cyprus Tax Facts 2019

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. It should be clarified however that 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.
September 18, 2018

Cyprus signs a tax treaty with Luxembourg for the avoidance of double taxation

The Republic of Cyprus has concluded a Double Tax Treaty with Grand Duchy of Luxembourg. The treaty was signed on the 8th of May 2017. The new treaty shall enter into force upon both Cyprus and Luxembourg exchanging notifications that the formal ratification procedures have been completed. The provisions of the treaty with respect to taxes will have effect in both contracting states on or after 1 January post ratification.
August 6, 2018

Cyprus Tax Facts 2018

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. It should be clarified however that 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.
June 18, 2018

Cyprus signs a new tax treaty with the principality of Andorra for the avoidance of double taxation

The Republic of Cyprus has concluded a new Double Tax Treaty with United Kingdom. The treaty was signed on the 22nd of March 2018. The actual publication of the treaty in the Gazette took place on the 2nd of April 2018. The new treaty shall enter into force upon both Cyprus and United Kingdom exchanging notifications that the formal ratification procedures have been completed. In Cyprus the provisions of the treaty with respect to taxes will have effect on or after 1 January post ratification.
April 18, 2018

Cyprus signs a new tax treaty with United Kingdom for the avoidance of double taxation

The Republic of Cyprus has concluded a new Double Tax Treaty with United Kingdom. The treaty was signed on the 22nd of March 2018. The actual publication of the treaty in the Gazette took place on the 2nd of April 2018. The new treaty shall enter into force upon both Cyprus and United Kingdom exchanging notifications that the formal ratification procedures have been completed. In Cyprus the provisions of the treaty with respect to taxes will have effect on or after 1 January post ratification.
April 18, 2018

Taxation of Rents in Cyprus for Value Added Tax Purposes (Interpretative VAT Circular-Letting of Immovable Property)

Following the recent legislative changes (Law 157 (I) / 2017) enacted by the House of Representatives of Cyprus, for the purposes of harmonizing legislation with the EU Value Added Tax (VAT) Directive, we set out below how the transactions relating to the letting of immovable property in Cyprus will be treated for VAT purposes.

This site uses cookies to provide you with the best experience. By using this site, you agree to our use of cookies. You can change your cookie settings at any time using your browser settings. For more information on how we use cookies, please read our Privacy Policy.