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On 20 May 2024, the Cyprus Tax Department released the final version of the Table of Summarised Information (TSI) form for the tax year 2022, which is now available for submission on the Tax For All (TFA) portal.

Effective as of 1st of January 2017, the so-called "60 day rule" for the purposes of establishing Cyprus tax residency for individuals is of importance to those seeking Cypriot residency.

In accordance with the International Business Companies Act 2018, all International Business Companies incorporated on or before October 16, 2017 will continue to benefit from the previously existing tax and stamp duty exemptions until June 30.

For some years the governments of the main developed economies have experienced a loss of tax revenues due to the inability of conventional tax systems to adequately tax the operations of multinational businesses.

CyprusTax Department would like to inform that for documents processing with variable fees purposes, a new version of the Stamp Duty calculator has been uploaded on the website...

On October 3rd, 2023 Cyprus Tax Authorities announced the extension of the submission of the VAT for the period 01/06/2023 – 31/08/2023.

The Cyprus Tax Department has issued a further reminder to submit applications for settlement of arrears of tax by instalments under the Process of Adjustment of Tax Arrears Law of 2017 (Law 4(I)/2017).

On 24 June 2020, the EU Council adopted an amendment to the Directive on Administrative Cooperation (DAC6), inserting Articles 27a and 27b.

The disclosure requirements will have to be followed by "intermediaries" and, in some instances, the taxpayers.

Eight of the countries included on the European Union list of non-cooperative jurisdictions published in December 2017 have now been removed, less than two months after the list was set up.

As of the 26th May 2022, the Cyprus Parliament approved amendments to the Special Defence Contribution ("SDC") Law, whereby the SDC has been lowered to the rate of three percent (3%) relating to interest income which is derived by or from certain sources.

The Cyprus Tax Department announced that the bilateral Competent Authority Arrangement (CAA) for the exchange of Country-by-Country (CbC Reports) between Cyprus and the United States of America.

The Cyprus Tax Department announced on 22 November that Constituent Entities of Cyprus Ultimate Parent Entities will not be subject to local filing in their jurisdiction of tax residence

The Cyprus Tax Department has issued a circular (EE 33 dated 29 January 2019) giving guidance on the tax residence provisions for individuals introduced by Law 119(I)/2017.

Why The IP Box Ruling Is So Powerful- Ruling Detiails (Video)

To this effect, a relevant Bill has already been prepared and is anticipated that it will shortly be enacted into Law by the Cyprus Parliament.

The European Council, through a press release issued on 10th of October 2019, has publicized an updated the list of EU non-cooperative taxation jurisdictions.