Reporting Of Advance Crossborder Rulings

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

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

• were issued, amended or renewed between 2012 and 2013 and ceased to apply after December 31 2013;
• were adopted, modified or renewed before April 1 2016 (excluding those relating to persons principally engaged in financial or investment transactions) with regard to groups with a net turnover not exceeding €40 million for the preceding financial year;