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Interpretative Circular 13, issued by the Cyprus Tax Department on November 1 2017, clarifies the treatment of the following additional tax imposed under the Assessment and Collection of Taxes Law(1) for the purposes of calculating the deemed dividend distribution for special defence contribution (SDC) tax.

The Cyprus Tax Department has issued a draft publication on benefits in kind for public consultation.

An EU national, operating a successful consultancy company, sought a jurisdiction that combined tax efficiency, EU credibility, and a high quality lifestyle. With an international client base and no dependence on a physical location, Cyprus emerged as a natural choice for both business relocation and personal residency. The individual also held a personal investment portfolio which was discretionary managed by an EU Financial Institution.

A frequent and particularly sensitive issue in the context of family businesses concerns the succession process and the selection of a new leader. Scenarios in which founders—after decades of effort—are called upon to pass the reins to their descendants are especially common...

Long-term trends, driven by public policy and exponential rates of change in digital infrastructure, are fundamentally altering the global business environment.

On the 2nd of November 2018, the Central Bank of Cyprus (the "CBC") issued a circular with the purpose of clarifying the definition of "Shell Companies" and how the service providers and banks should classify them.

In the complex realm of asset and wealth protection, the Cyprus International Trust stands out as a highly desirable instrument defined by distinctive characteristics shaped through judicial interpretations...

Details of the new double tax treaty between Cyprus and Kuwait have now been made public.

The Process of Adjustment of Tax Arrears Law 2017 establishes a procedure for settling tax arrears by monthly instalments (for further information please see "New law for payment of tax arrears by instalments").

The protocol amending the double taxation agreement between Cyprus and Poland has been signed on behalf of both countries.

Following the visit of Russian President Medvedev to Cyprus and the signing of the Protocol to the double taxation agreement on behalf of the governments of both countries, it was expected that the amended treaty would be ratified by the Parliaments of the two countries before the end of 2010 and would become effective from 1 January 2011.

The economic and business instability of recent years, stemming from the worldwide economic crisis as well as widespread uncertainty and increased national scrutiny, have changed the rules of the business game dramatically.

On 2 November 2018, the Central Bank of Cyprus issued a circular replacing and clarifying its previous guidance issued on 14 June 2018...

Cyprus holding companies provide a highly tax-efficient structure for international investments structures. The jurisdiction combines an extensive participation exemption regime with zero withholding taxes on profit repatriation fully aligned with EU, OECD and BEPS regulations.

Elias Neocleous & Co LLC Associate Alexis Christodoulou is featured in the latest International Business Structuring Association (IBSA) podcast episode...