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Cyprus has established itself as a pivotal jurisdiction for international tax planning, attracting multinational corporations (MNCs) and high-net-worth individuals (HNWIs) with its strategic location...

Establishing and maintaining adequate substance in Cyprus, is considered an important aspect in order to minimize the risk of denial of double tax treaties and of potential challenges from foreign tax authorities who might seeking to question a company's tax residency status and try to tax it locally.

The Republic of Cyprus and Russia had entered into a Double Tax Treaty (DTT) in 1998 in a joint effort to avoid the double taxing of income and capital generated in Cyprus.

On 8 December 2022, the European Commission published its legislative proposals in the framework of the VAT in the Digital Age initiative, contemporizing the EU's VAT system by employing technological advances to reduce VAT non-compliance and fight VAT fraud.

DAC6 refers to the "Directive on Administrative Cooperation", specifically its sixth amendment (thus "DAC6"). It is a European Union directive that aims to promote transparency and fairness in taxation.

The integration of Artificial Intelligence (AI) into tax planning is revolutionizing how businesses approach their financial strategies. Predictive analytics...

On 8 December 2022, the European Commission proposed new tax transparency rules for service providers facilitating transactions in crypto assets for consumers residing in the European Union.

In September 2013 the office of Associate Chief Counsel of the IRS announced that a Cyprus resident holding company qualified for benefits under the US-Cyprus tax treaty.

In today's fast-changing global market, businesses need to adapt, stay compliant, and protect their assets. That's where Eurofast comes in. With decades of experience and a strong presence in multiple jurisdictions...

In an era where the global economy's assets are valued at staggering figures—over $100 trillion in stock markets, approximately $280 trillion in real estate, and more than $128 trillion in bond markets—

On January 27 2017 Parliament approved a new law which provides for the payment of overdue taxes by monthly instalments.

The Process of Adjustment of Tax Arrears Law 2017 (Law 4(I)/2017) established a procedure for settling tax arrears by monthly instalments, providing a waiver of up to 95% of interest and penalties and covering all nationally imposed taxes...

The Cyprus Tax Department has issued a circular setting out guidance on the new tax residence provisions for individuals introduced by Law No.119(I)/2017.

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.

Cyprus has recently unveiled significant tax policy adjustments that directly impact various income streams. One notable change includes the reduction of the Special Defense...

According to the Income Tax Law of 2002, the Cyprus tax residency- based system constitutes individuals physically spending over 183 days within a tax year (1st January to 31st December) in Cyprus (the "183-day rule"), as tax residents in that tax year.

On 26 June 2020, the new Council Directive (EU) 2020/876 of 24 June 2020 amending Directive 2011/16/EU (commonly referred to as the DAC)...