Building Business Presence In Cyprus

In the light of the shifting international tax landscape, enhancing economic substance is becoming a key factor in the formulation of a redefined global tax strategy.

The Base Erosion and Profit Shifting ("BEPS") project currently being undertaken by the OECD/G20 is introducing tighter regulation of the international tax system as a whole. This has made it clear that establishing appropriate levels of substance in jurisdictions where there has previously been limited presence will become best practice for multinational enterprises. In addition, businesses may look to rationalize the number of entities that they have globally and concentrate certain activities in jurisdictions which are conducive to the establishment of a fully operational business presence.