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We would like to inform you that in accordance with a Decree issued on 5 June 2020, the following deadlines are extended to 30 October 2020.

The Cyprus Tax Department has announced an extension of the time allowed for banks and other financial institutions to submit their corporate tax returns for the tax year 2017.

Τhe Ministry of Finance, through the tax department, issued an announcement on 23 July 2021 in which informs the taxpayers that the 2020 personal income tax return (Form T.D.1)...

The Cyprus Tax Department has announced that 31 October 2018 is the deadline for employees and self-employed individuals who are not required to submit audited financial statements to file their tax returns...

According to the provisions of the third Greek bailout, the withholding tax of 26% is abolished for countries with "privileged tax regime" in which Cyprus was included.

The draft law and regulations replicate the Greek language text of the directive almost verbatim.

The Organisation for Economic Co-operation and Development proposed a Common Reporting Standard (CRS) for the Automatic Exchange of Information with the aim of improving international tax compliance and preventing tax evasion...

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.

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.

The deadline for the payment of the related tax via self-assessment has been extended to the same date.

The Minister of Finance issued today, 30 March 2020, a decree extending the deadlines for submission of direct tax returns.

The Barbados Government Information Service has announced that negotiations are in progress for a double taxation agreement between Cyprus and Barbados...

On November 8 2012 Cyprus and Ukraine finally signed a new double tax agreement to replace the 1982 agreement between Cyprus and the Soviet Union, which Ukraine had adopted on independence.

On the 8th of October 2019, Cyprus and the Arab Republic of Egypt have signed a new Double Tax Treaty between them

The new IP Box Regime means that laws in Cyprus on the taxation of Royalties are now in full compliance with the OECD guidelines.

Tax Department, has recently issued a circular in relation to the applications for the issuance of tax residency certificates.

No exemption is available if the taxpayer has received a grant under the programme.