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The Tax Department has announced that the double tax agreement with Bahrain, which was signed on March 9 2015, entered into force on April 28 2016...

Elias Neocleous is the author of the Cyprus chapter of the third edition of the LexisNexis® Guide to FATCA Compliance, which was published earlier this month.

The Income Tax Law was amended in 2012 to introduce accelerated capital allowances for tax purposes on assets purchased between 2012 and 2014, inclusive.

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 Barbados Government Information Service has announced that negotiations are in progress for a double tax agreement between Cyprus and Barbados, as well as for cooperation in other areas, such as tourism.

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.

The Cyprus tax authorities have issued a circular on the practical application of the provisions introduced in 2015 for a notional interest deduction (NID).

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 –

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.

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).

Cyprus has further extended its network of double tax agreements by signing a new agreement with Jersey.

The Cyprus government has announced the signature of a new double taxation agreement with Norway.

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 Tax Department's announcement clarifies that the derogation does not affect other EU member states' obligations to provide information to Austria.

A Protocol amending the Agreement for the Avoidance of Double Taxation and Prevention of Fiscal Evasion with respect to Taxes on Income and on Capital between South Africa and Cyprus was signed on the 1st of April 2015.

We are featured in the 2024-2025 Cyprus Country Report.