by Marios Panayides | Sep 30, 2022 | Income Tax, Tax
On 23 September 2022, the Council of Ministers issued a Decree in official Gazette which exempts individuals with gross annual income below 19,500 Euro from the obligation to submit a personal tax return (TD1) for the tax year 2022. As a reminder, back in August 2020,...
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 Christos Stylianou | Jul 28, 2022 | Income Tax, Tax
The Tax Department of Cyprus announces that in accordance with the decision of the Members of Parliament, which will be published shortly, the deadline for the submission of the tax declaration for Physical Persons (Employee, Pensioner and Self Employed without...
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 Marios Panayides | Mar 26, 2022 | Income Tax
On 24 March 2022, the House of Parliament voted the extension of the submission of the 2020 corporate income tax return (TD4) from 31 March 2022 to 31 July 2022. For any assistance please free to contact us.
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...
