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It also refers to the European Commission Action Plan for Fair and Simple Taxation Supporting the Recovery Strategy.

RSM Cyprus releases the annual comprehensive edition of the Cyprus Tax Facts for 2022. The Cyprus Tax Facts guide contains the most important information pertaining to legal entities and individuals collected from our professionals.

On February 26, 2025, President Nikos Christodoulides announced a set of proposed tax reforms that could significantly impact businesses and individuals in Cyprus. However, it is important to emphasize that these changes have not yet been enacted into law and are still subject to review, consultation, and possible amendments.

Cyprus has taken a major step toward aligning with OECD and EU tax governance standards by refining and strengthening its Transfer Pricing (TP) framework.

Cyprus is continuing to develop its network of Double Taxation Treaties through the signing of a new DTT with the Federal Democratic Republic of Ethiopia, on 30th December 2015.

On 24 May 2019, Cyprus ratified the first-time double tax treaty it had signed with Kazakhstan on 15 May 2019

This information note concerns the Amending (No. 2) Law of 2023 which amends the VAT Legislation and was published in the Official Gazette of the Republic of Cyprus on July 14, 2023.

The Cyprus Tax Department recently issued Forms T.D 38, T.D 38Qa and T.D 38Qb applicable to individuals being Cyprus tax residents but non-Cyprus domiciled.

The Tax Department recently issued a circular1 clarifying the exemption from tax on interest received that is available to owners, charterers or managers of ships...

On December 21, 2021 new provisions amending both the Income Tax Law and the Special Contribution for the Defence of the Republic Law (SCD Law) were published in the Official Gazette of the Republic.

Article V of the protocol to the double taxation agreement between Cyprus and Russia that entered into effect on 1 January 2013 amended the definition of dividends set out in paragraph 3 of Article 10 of the DTA.

With the signing of the new Double Taxation Agreement India has removed Cyprus from its tax blacklist.

On 30/11/2017 the House of Representatives in Cyprus and in accordance with the EU Value Added Tax (VAT) Directive voted a new VAT Law ...

On 21 July 2023, an amendment to the Value Added Tax (VAT) law was published in the Official Gazette of the Republic, introducing reduced VAT rates of 3% and 0% for certain goods and services.

On 5 April 2019 the House of Representatives approved legislation implementing the EU Anti-tax Avoidance Directive (2016/1164/EC) in Cyprus with the aim of improving the resilience of the internal market against cross-border tax avoidance practices.

Capital Gains Tax (CGT) is imposed (where the disposal is not subject to income tax) at the rate of 20% on gains from the disposal of immovable property situated in Cyprus including gains...

There has been a recent upsurge in interest from Africans wanting to do business in Cyprus and, in particular, from South African citizens through diverse opportunities of investment.