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The need for establishing a set of Transfer Pricing rules is based on the "Arm's Length principle" and is perhaps the most important tax issue from an economic point of view over the past 20 years.

For background, please refer to our Tax Update Newsletters N-9-2021, N-15-2021 and N-26-2021.

Redomiciliation of companies in to and out of Cyprus became possible in 2006, when the House of Representatives enacted a new law which amended the Company Law.

As we approach 2024, UK non-domiciles are at a critical juncture. The potential revision or discontinuation of the UK's non-dom program necessitates immediate, strategic action for HNWIs to secure their financial futures.

A new bill imposing Value Added Tax (VAT) on the supply of building land has been approved by the Cyprus Parliament and has come into force on the 2nd of January 2018.

The Tax Department informs that, until 16 March 2023, you can make payments of VAT and VIES tax debts using the payment forms that can be printed from TAXISnet – VAT.

In its latest periodic review by the OECD's Global Forum on Transparency and Exchange of Information for Tax Purposes, Cyprus' overall rating remains ‘Largely Compliant' as per an official report of the Global Forum released today.

According to the ministry's calculations, the global share of EU-flagged ships has decreased in comparison with 2016 in all sectors.

Details of the new double tax treaty between Cyprus and Denmark have also been released. The new treaty was signed on 11 October 2010 and will take effect when it has been ratified by both countries.

On May 24 2016, after almost 10 years of negotiations, Cyprus and Latvia signed a new double tax agreement.

The Merchant Shipping (Fees and Taxing Provisions) Law of 2010 (the Tonnage Tax Law) left certain issues of detail to be determined by the Cyprus Department of Merchant Shipping ("DMS").

The NID is a deduction from taxable profit, calculated by applying a reference rate to the new equity.

In July 2015 the government submitted to Parliament a number of draft laws to simplify the tax regime and make it more attractive, objective and effective...

According to the Law, any affected person, is entitled to submit an objection on question in dispute before the Tax Commissioner and before any competent authority of each Member State.

The conveyance procedure refers to the transfer of a property or its interests from one person to another (or parties) through the use of a written instrument.

On May 30th, 2018, the successful final round of negotiation within the conclusion of the negotiation of the Convention for the Avoidance of Double Taxation and the Prevention of Tax...

Explore expert insights on tax mobility in international business. Eurofast provides custom solutions to mitigate risks and optimize tax outcomes for business travellers.