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ARTICLE · 17 JUNE 2016

Additional Rates For Calculating Notional Interest Deduction For New Equity Capital Announced

Elias Neocleous & Co LLC
Elias Neocleous & Co LLC
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Elias Neocleous & Co LLC

Elias Neocleous & Co LLC

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Earlier in 2016 the Tax Department announced the 10-year government bond rates at December 31 2014, which will be used as the basis for the notional interest deduction for the 2015 tax year for Cyprus, Germany, India, Romania and Russia...

CyprusWealth Management
Elias Neocleous & Co LLC
Elias Neocleous & Co LLC
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Bond rates

Earlier in 2016 the Tax Department announced the 10-year government bond rates at December 31 2014, which will be used as the basis for the notional interest deduction for the 2015 tax year for Cyprus, Germany, India, Romania and Russia (for further details please see "New rates for calculating notional interest deduction for new equity capital"). It subsequently announced the corresponding rates at December 31 2015, as well as a rate for Ukraine, which will be used as the basis for the notional interest deduction on capital introduced during 2016.

The Tax Department has now announced rates at December 31 2015 for the Czech Republic, Latvia, Poland and the United Arab Emirates, on which the notional interest deduction on capital introduced in 2016 will be based. The notional interest deduction for capital introduced during 2015 to finance assets used in any of these countries or in Ukraine will be based on the rate for Cyprus.

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