Reporting Of Advance Cross Border Rulings

In order to ensure compliance with Directive (EU) 2015/2376 of 8 December 2015 amending Directive 2011/16 / EU on compulsory automatic exchange of information in the field of taxation and in particular in advance cross border rulings, the Cyprus Tax Department has begun an initiative to gather information regarding cross-border decisions issued, modified or renewed during the years 2012 to 2016 inclusive.

According to the Tax Department's instructions, provision of information is not required for the following cross-border decisions:

• Decisions issued, amended or renewed during the years 2012-2013, which ceased to apply after 31 December 2013.
• Decisions adopted, modified or renewed before 1 April 2016 (excluding those relating to persons principally engaged in financial or investment transactions) in respect of groups with a net turnover not exceeding €40 million for the preceding financial year.