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BRIEFINGS

According to a Decree published in the Official Gazette on the 20th of October 2020, the deadlines for the submission of personal income tax returns for the year 2019 and payment of tax, are extended to the 30th of November 2020.
The government of Cyprus announced yesterday the Council of Ministers’ decision to  abolish the citizenship through investment programme (CIP) in its current form.  The programme will be abolished from November 1st.
Various amendments have been published in the Cyprus Official Gazette effective as from the 20th of August 2020 (unless specified otherwise).
The Council of Ministers has approved the creation of a Fast Track Business Activation Mechanism for setting up a company in Cyprus by third-country nationals to attract more foreign investment to the island.
Certain provisions of the Assessment & Collection of Taxes Law 4/78 were amended by Law 126(1) of 2020 and were published in the Official Gazette on 20.08.2020.
Stamp duty is payable on all agreements and documents which involve any property situated in Cyprus and/or matters or things taking place in Cyprus.
Cyprus and Russia have just agreed on an amendment of the double taxation agreement between the two countries. The Russian government assured the withdrawal of the termination procedures of the Convention.
An updated agreement for the elimination of double taxation on income and on capital has been signed between Cyprus and the United Kingdom.
The European Union has published on 23.01.2018 a new blacklist of tax havens, naming only 9 countries out of the 92 included initially.
The double tax treaty (DTT) between Cyprus and Ethiopia signed in December 2015 entered into force on 18 October 2017 as per recent update of the Cyprus Ministry of Finance. 
On 03/01/2018, the governments of Cyprus and Saudi Arabia signed an agreement for the Avoidance of Double Taxation (the DTT). 
The European Union has published its blacklist of tax havens, naming 17 countries out of the 92 included initially.
On 29.06.2016 the negotiation on the Double Taxation Agreement for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with respect to Taxes on Income between Cyprus and India has been effectively completed.
A DTT between Cyprus and Luxembourg was signed on 8.5.2017. The DTT will come into effect from 01.01 of the year following the year in which all legal formalities to bring the treaty into force are finalised.
The Registrar of Companies announced on 16.8.2016 that as per Law N.89(I) of 2015 which amends the Companies Law Cap.113...
The House of Representatives of Cyprus voted on the 14th of July 2016 the following changes relating to immovable property tax.
Companies registered in Cyprus that do not proceed with the payment of the annual levy of €350 on time will be liable to penalties.
On 24/05/2016 the Republic of Cyprus entered for the first time into a Double Tax Treaty (DTT) with the Republic of Latvia. This is the 60th Double Tax Treaty entered into by Cyprus. The DTT was formally approved by Cyprus on 03/06/2016 and was signed by the relevant Ministers of each country.