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ARTICLE · 17 JULY 2015

Proposed Amendments To Tax Laws

Elias Neocleous & Co LLC
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Elias Neocleous & Co LLC

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The Cyprus government has announced a number of proposed tax incentives aimed at encouraging economic activity and attracting inward direct investment.

CyprusWealth Management
Elias Neocleous & Co LLC
Elias Neocleous & Co LLC
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Introduction

The Cyprus government has announced a number of proposed tax incentives aimed at encouraging economic activity and attracting inward direct investment. It has also submitted a number of draft laws to the House of Representatives to implement the new provisions of the EU Parent-Subsidiary Directive (90/435/EC) to simplify the tax regime and make it more attractive, objective and effective. The proposed changes include:

  • stimulating economic activity and investment in real estate;
  • increasing competitiveness and aligning domestic legislation with EU directives; and
  • attracting high-net-worth individuals and high-earning employees.

Summary of proposed changes

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