by Demetris Nicolaides | Aug 2, 2022 | Income Tax, Tax
Cyprus has introduced new rules for income tax exemptions on employment income to attract foreign talent. Income Tax Law (Amendment) (No. 6) of 2022 was published in the official Gazette on 26 July 2022 amending Articles 8 par 21 (the “Specific Exemption”) and Article...
by Demetris Nicolaides | Jul 5, 2022 | Tax
All companies and self-employed persons should submit a temporary tax declaration and make two provisional tax instalments during the year of assessment. Reporting deadlines The dates of submission and payment of the provisional and final tax for tax year 2022 are as...
by Demetris Nicolaides | Mar 27, 2022 | Income Tax, Tax
Cyprus Income Tax law has a new tax deduction applicable as from 1.1.2015 under the description Notional Interest Deduction (the “NID”) on new capital (the “NC”). The NID is calculated on the amount of new capital introduced in the entity on or...
by Demetris Nicolaides | Mar 24, 2022 | Business, Cyprus Company Law, Economy, Social Insurance
On 15 October 2021, the Minister of Finance presented a new integrated strategy for attracting new businesses to Cyprus and encouraging their operations in Cyprus (the “Strategy”) aimed at making Cyprus a Sustainable Business and Commercial Center in the...
by Demetris Nicolaides | Dec 28, 2021 | Business, Economy, Europe, Income Tax, Tax, World News
The European Commission has published on 22 December 2021 the legislative proposal for a Directive laying down rules to prevent the misuse of shell entities for tax purposes. The Unshell proposal (commonly referred to as ATAD III) is part of the Communication on...
