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The Special Contribution for Defence rate on the interest income received by Cyprus tax resident domiciled individuals from corporate bonds has been reduced from 30% to 3%.

The long-awaited removal of Cyprus from the "List of the States and Territories providing preferential tax treatment and (or) not requiring disclosure and furnishing of the information upon conducting of financial transactions (offshore zones)" appended to Order 108n of the Ministry of Finance of the Russian Federation dated 13 November 2007 took effect from the beginning of 2013.