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

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.

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

In September 2017 the government approved an initiative to encourage the development of the film and audiovisual production industry in Cyprus by means of grants, tax incentives and other assistance.

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

On 6 December 2019, the House of Parliament approved an increase in the maximum annual tax deduction for life and private medical insurance premiums, and contributions to social insurance, pension and provident funds, ...

On 12 February 2025, the Cyprus Tax Department ("CTD") announced that, by decision of the Commissioner of Taxation, no administrative fines will be imposed on taxpayers for late submission of the Income Tax Return ("TD4") and the Table of Summarized Information ("TSI") for the tax year 2022, provided that the filing is completed by 31 May 2025.

The House of Representatives has passed a law whereby natural and legal persons who owe taxes can pay off their debt in instalments.

New arrangements for the taxation of loans or advances to directors and shareholders were introduced to the Income Tax Law through Law 197(I)/2012.

On 19 May 2017, a Protocol was signed between the Republic of Cyprus and the Republic of San Marino amending the Convention on the Avoidance of Double Taxation with respect to taxes on income.

The Tax Department issued an announcement following the issuance of the Decree on 12 March 2021 in relation to the extension of the deadlines for the submission of the 2019 corporate income tax return ...

The exemption could be claimed for a maximum of five years commencing from 1 January of the year following the year of commencement of employment, and it applied up to year 2020.

In good and in bad times, investments tend to be highest in countries with the least regulations and taxes.

Cyprus is positioning itself as a leading jurisdiction for high-net-worth individuals seeking sophisticated wealth structuring and tax planning solutions. With its non-domicile regime, evolving tax framework, and robust trust legislation, the jurisdiction offers internationally mobile families a comprehensive approach to preserving and transferring wealth across generations within a stable EU environment.

On 20 October 2020 the Minister of Finance issued a decree extending further the deadline for submission of direct tax returns of individuals and for payment of the related tax...

Taxpayers are reminded that the submission of personal tax returns for the tax year 2022 will only be made available via the TaxisNet portal once the relevant decision is passed by the Cyprus...

Cyprus is considered as one of the most competitive shipping centres in the world in terms of registration fees and taxes.