ArticleChanges To Assessment And Collection Of Taxes LawLaw 97(I)/2017 has amended the Assessment and Collection of Taxes (ACT) Law 1978 with effect from July 14 2017.CyprusWealth ManagementElias Neocleous & Co LLC
ArticleChanges To The VAT Appeal ProcedureHitherto, taxpayers who disputed VAT assessments raised following examinations of their records have had three options.CyprusWealth ManagementElias Neocleous & Co LLC
ArticleDouble Tax Treaty Round UpThe double taxation agreement between Cyprus and the United Arab Emirates took effect on 1 January 2014. CyprusWealth ManagementElias Neocleous & Co LLC
ArticleNew Double Tax Agreement Between Cyprus And IcelandThe new double tax agreement between Cyprus and Iceland, which was signed on November 13 2014, entered into force on December 22 2014. CyprusWealth ManagementElias Neocleous & Co LLC
ArticleProtocol To Double Tax Agreement Between Cyprus And Ukraine SignedAn announcement on the website of the Ukrainian Ministry of Finance provides more details of the protocol's amendments.CyprusWealth ManagementElias Neocleous & Co LLC
ArticleSimplification Of Tax On InterestWhile the main aim of the changes was to increase the attractiveness of the taxation regime for mutual funds and collective investment schemes, the authorities have also taken the opportunity to simplify the taxation of interest generally. CyprusWealth ManagementElias Neocleous & Co LLC
ArticleTaxation Of Betting CompaniesCircular 2016/14,(1) issued by the Tax Department on September 29 2016, clarifies the taxation arrangements for companies which provide betting services under a licence...CyprusWealth ManagementElias Neocleous & Co LLC
ArticleTonnage Tax: Countries Whose Ships Are Subject To SurchargeIn the event of breach of this requirement, Section 54 empowers the Department of Merchant Shipping to impose sanctions, including administrative fines and exclusion from the tonnage tax system. CyprusWealth ManagementElias Neocleous & Co LLC
ArticleCovid-19 Impact Causes European Commission To Postpone New Tax Measures.On 8 May 2020, the European Commission (EC) announced its decision to postpone the entry into force of two EU taxation measures. The postponements are a recognition of the difficulties which Member States and businesses...European UnionCoronavirus (COVID-19)Elias Neocleous & Co LLC
ArticleTonnage Tax - Maintenance Of Prescribed Levels Of EU-Flagged VesselsIn order to promote its objective of improving the quality of Cyprus shipping, the Merchant Shipping (Fees and Taxing Provisions) Law of 2010 imposes a surcharge on the tonnage tax payable regarding qualifying vessels...European UnionWealth ManagementElias Neocleous & Co LLC
ArticleEvaluating Your Residency: Cyprus As An Attractive Option For UK Non-DomsGiven the ongoing uncertainty around the UK's Non-Domiciled (Non-Dom) tax regime, many UK resident non-dom's are evaluating the potential impacts and considering their options outside the UK.GlobalImmigrationDixcart Group Limited
ArticleChanges To Tax RatesIn accordance with the requirements of its international lenders, Cyprus has made a number of changes to tax rates. CyprusTaxElias Neocleous & Co LLC
ArticleCyprus Notional Interest Deduction ("NID"): "not Harmful" EU Code Of Conduct GroupFor the purpose of identifying such harmful measures the Group set out the criteria against which any potentially harmful measure is to be tested. CyprusTaxPwC Cyprus
ArticleExtended Deadline For The Submission Of The 2019 Personal Income Tax Returns (IR1) And The Payment Of Tax DueOn the 16th of June 2020, the Cyprus Tax Department announced the extension of the deadlines for the following 2019 tax submissions to 30 October 2020 (ΚΔΠ 247/2020)...CyprusTaxElias Neocleous & Co LLC
ArticleExtra Time For Settlement Of TaxesThe Cyprus parliament has enacted a number of laws to reflect the current economic situation and allow extra time for payment of taxes following the disruption to the economy that took place earlier in the year.CyprusTaxElias Neocleous & Co LLC
ArticleIndividual Residence For Tax PurposesCyprus offers significant tax exemptions and other benefits for individuals relocating under the 60-day or 183-day rule. Tax residency in Cyprus can be obtained through the following procedures:CyprusTaxNasos A. Kyriakides & Partners LLC
ArticlePKF Worldwide Tax Guide 2018 – 2019The PKF Worldwide Tax Guide 2018 - 2019 is an annual publication that provides an overview of the taxation and business regulation regimes of the world's most significant trading countries.CyprusTaxPKF
ArticleEU Adds Anguilla And Barbados To List Of Non-Cooperative Jurisdictions For Tax PurposesOn 6 October 2020, the Council of the EU revised the EU list of non-cooperative jurisdictions for tax purposes (the ‘List'). GlobalTaxElias Neocleous & Co LLC
ArticleAccounting Services Available From Dixcart CyprusUnder the Cyprus Companies Law, the directors of every company are responsible for the bookkeeping necessary for the preparationCyprusAccounting and AuditDixcart Group Limited