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.
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.
January 1, 2018

Cyprus Signs a Tax Treaty With Saudi Arabia for the Avoidance of Double Taxation

The Republic of Cyprus has recently concluded a Double Tax Treaty with Kingdom of Saudi Arabia. The treaty was signed on the 3RD January 2018. The new treaty shall enter into force upon both Cyprus and Saudi Arabia exchanging notifications that the formal ratification procedures have been completed. The provisions of the treaty with respect to taxes will have effect in both contacting states on or after 1 January post ratification.

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