Companies are treated as taxable entities and are subject to corporation tax. For the purposes of the income tax law the term "company" covers all companies incorporated or registered under any law in force in Cyprus and any company incorporated or registered elsewhere which carries on business or has an office or place of business in Cyprus.
All companies, within the meaning of the income tax law, are liable to Cyprus corporation tax for each year of assessment upon their income derived from, accruing or received in Cyprus in respect of:
- gains or profits from any trade or business; (the expression "trade" includes every manufacture or adventure or concern in the nature of trade)
- any interest or discount