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In December 2015 the Cyprus tax laws were amended to temporarily exempt loan restructurings from tax in order to facilitate and encourage the restructuring of non-performing loans.

The Tax Department recently revised reference rates used to calculate the notional interest deduction under Article 9B of the Income Tax Law for new capital used to finance assets employed in Russia.

Circular 2016/16, which was issued by the Cyprus Tax Department on 25 November 2016, clarifies the requirements regarding returns of income received by non-residents...

The Cyprus Tax Department has announced a revision of the previously-announced reference rates used to calculate the NID under article 9B of the Income Tax Law for new capital used to finance assets employed in Russia.

Interpretative Circular 14, issued by the Cyprus Tax Department on 14 November 2017, clarifies the application of article 5(2)(g) of the Income Tax Law, which provides for a deemed benefit...

The UK's plan to abolish the non-domiciled resident tax status (April 2025) creates uncertainty for high-net-worth individuals.

Towards the end of 2012 the Parliament has enacted a number of amendments to the tax and company laws.

With effect from 1st January 2017 the Cyprus Income Tax Law was amended with regard to the definition of "resident of the Republic" for individuals.

The new double tax treaty and accompanying Protocol between Cyprus and the United Kingdom of Great Britain and Northern Ireland signed on 22 March 2018 entered into force on 18 July 2018 based on a recent update ...

As reported in previous issues of this newsletter, in November 2011 the Cyprus Parliament enacted a law allowing for a partial write-off of interest and penalties on overdue tax liabilities of companies and individuals in respect of tax years up to and including 2008.

One of the Cyprus Tax Department's main current priorities is to streamline and modernise its processes and make it more convenient for taxpayers to deal with the department by facilitating electronic ...

The Cyprus Tax Department informs that as of 1 March 2018, the monthly payment of tax deducted by employers in Cyprus (PAYE with Tax Code 0100) and bearing no interest...

The Process of Adjustment of Tax Arrears Law 2017 (Law 4(I)/2017) established a procedure for settling tax arrears by monthly instalments.

The Double Tax Treaty (DTT) between the Republic of Cyprus and The Kingdom of The Netherlands, signed on June 1, 2021, came into force on June 30, 2023, marking a significant milestone in the financial relations between the two nations

Prior to the enactment of the new law, individuals are resident in Cyprus for the purposes of income tax if they are physically present for at least 183 days in the tax year.

According to the Cyprus Income Tax Law, a Cyprus resident individual director or shareholder

The double taxation agreement between Cyprus and Spain, which was signed in Nicosia on 14 February 2013, has taken another step towards ratification.