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On 18 March 2021 the Cyprus Parliament approved the Bill ("Law") amending the Law on Administrative Cooperation in the Field of Taxation (Law 205(I)/2012).

As Europe pushes forward with ambitious sustainability goals, including the EU Green Deal and the Recovery and Resilience Facility (RRF), member states face growing pressure to implement environmental taxes. Cyprus, however, is taking a cautious approach.

The Cyprus Tax Department informs that as of 1 March 2018, the monthly payment of tax deducted by employers in Cyprus (PAYE with Tax Code 0100) and bearing no interest and charges ...

We now await publication of the DTT in the Cyprus Government Gazette.

The first-time double tax treaty (DTT) between Cyprus and Saudi Arabia signed on 3 January 2018 will enter into force on 1 March 2019 as per a recent update of the Cyprus Ministry of Finance.

Interest paid by a company which is a resident of a Contracting State to a resident of the other Contracting State shall be taxable only in that other State.

In order to promote its objective of improving the quality of Cyprus shipping, the Merchant Shipping Law imposes a surcharge on the tonnage tax payable in respect of qualifying vessels registered in countries that appear in the grey list or blacklist of the Paris Memorandum of Understanding on Port State Control.

Surprising as it may seem, most of the advantages of the Cypriot Tax Regime were, up until recently, mostly directed to non- Cypriot Tax residents.

The updated EU ‘blacklist' and the EU ‘greylist' are effective as from 27 February 2020, being their date of publication in the Official Journal of the European Union.

The Cyprus Parliament voted on 14 October 2016 amendments to the Cyprus Income Tax Law 118(Ι)/2002, as amended, relating to foreign Permanent Establishments (PEs).

From 5 October 2026, the Cyprus Tax Department will no longer accept email requests to register or amend bank account details for tax refunds. All IBAN changes must be submitted exclusively through...

The objective of the present Indirect Tax Update is to inform you that the Tax Department announced that the VAT Return submission deadline for the period December – February 2023 is extended ...

Eurofast would like to inform you that on the 25th of June 2018, the EU Council Directive 2018/822 (commonly referred to as "DAC6") was published in the Official Journal of the EU.

On 12 August 2022, the Cyprus Tax Tribunal issued its judgment in the OSCALIA HOLDINGS LTD case (case no. 7/2021E). The Tribunal ruled that input VAT on the acquisition of an apartment...

On 7 July 2022, the Cyprus Tax Tribunal issued its judgment in the FIDESCORP LIMITED & FIDESCORP SERVICES LTD case (case no. 4/2021E & 5/2021E).

It seems that one of the latest buzzwords in the field of international tax planning is "substance". The term "substance" is frequently used to indicate real/physical presence of legal entities in their country of tax residence, as opposed to the use of the so called "shell" or "conduit" companies for obtaining certain tax, or double tax treaty, benefits.

When issuing invoices for both EU and non-EU transactions, there are specific VAT rules that your Cyprus company needs to be aware of to ensure compliance.