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In an attempt to reduce excessive debt financing and encourage the investing of equity in corporate structures, the new amendments provide for a deduction on new equity by way of a Notional Interest Deduction as of 1 January 2015.

The Republic of Cyprus is a relative newcomer to the upstream oil and gas industry.

Cyprus is and has been for many years now an established International Business and Financial Centre because of the incentives, the good infrastructure, and its considerably extensive network of Double Tax Treaties.

The European Union, after a lengthy process, has announced on the 5th December 2017 its first Tax Havens Blacklist,

UK nationals can travel to Cyprus freely and will not require a residency permit if their stay does not exceed 3 months.

Indian high-net-worth individuals are increasingly reviewing how and where they hold global assets.

For a long time, countries worldwide have had schemes such as the Portuguese NHR, the Italian Flat Rate Scheme, and the Cyprus Non-Domicile Regime.

South Africa, still remains a jurisdiction where investment, in the correct manner, can be attractive. This is due to the South African economy offering a diversity of sectors and industries.

Our 5 minute tax update webcasts are broadcasted monthly and provide a brief summary of local and international tax events impacting Cyprus.

In order to promote its objective of improving the quality of Cyprus shipping, the Merchant Shipping Law of 2010, Law 44(I)/2010 imposes a surcharge on the tonnage tax payable in respect of qualifying vessels registered in countries which appear in the Grey List or the Black List of the Paris MOU.

Throughout 2024, we have shared various articles explaining and highlighting the benefits and routes available to those moving to Cyprus.

Cyprus has long been a hub for international businesses and individuals who wish to manage their wealth efficiently and effectively.

The government's ambitious package of tax reforms, scheduled for introduction in early 2026, is now facing serious pushback from some of the most influential professional and business organizations in Cyprus.

Please note that the deadlines stipulated below may be revised. Taxpayers are recommended to monitor developments.

An individual is considered as domiciled in Cyprus by way of domicile of origin or by domicile of choice.

On 21 March 2018, the European Union Commission proposed the adoption of new rules on the imposition of Digital Service Tax to tax digital business activities in a fairer and more growth-friendly way within EU.

Cyprus is a member of the EU and the Eurozone, and consistently aligns its legislation with the acquis communautaire.