Contributions to the General Health System with deemed dividend distribution The ICPAC’s Committee of Tax Compliance in accordance with a recent enquiry to the Health Insurance Organization (HIO) publiched a new publication . In regards to the obligation of every…
Cyprus adopted the European Union Mergers Directive which allows the companies to engage into an approved reorganization scheme. Under an approved reorganization scheme the companies can obtain tax benefits which otherwise they would not – these are to be exempted…
CYPRUS VAT DIARY – Main Obligations and Deadlines In this VAT newsletter we outline the main obligations and deadlines deriving from the direct VAT (Value Added Tax) legislation in Cyprus. It is of great importance to adhere to all obligations…
TAX DIARY – Main Obligations and Deadlines In this tax newsletter we outline the main obligations and deadlines deriving from the direct taxes legislation in Cyprus. It is of great importance to adhere to all obligations and within the prescribed…
SPECIAL DEFENCE CONTRIBUTION LAW DEEMED DISTRIBUTION OF DIVIDENDS As per the Special Defence Contribution Law, Companies which do not distribute at least 70% of their profits after tax, as defined by the relevant tax law, within two years after the end…
TEMPORARY TAX FOR THE YEAR 2018 This is a kind reminder that you have to pay by 31 December 2018 the second instalment of temporary tax for the year 2018. A company or individual preparing audited financial statements may submit…
Central Bank of Cyprus on “Shell Companies” Further to the circular issue on 14th June 2018 for bank accounts of “SHELL COMPANIES” in Cyprus a revised circular has been issued by the CENTRAL BANK OF CYPRUS on November 5th clarifying the status…
Conclusion: As you can see from the above calculations the effective tax exposure of the Company will be anywhere from 2.5% Corporation Tax to 7.3% Corporation Tax depending mainly whether the asset was acquired or developed internally as well…
General obligations of a Cyprus Company Given the increasing regulations and compliance/reporting requirements set by the Authorities in the last years, it is now even more important to ensure that your Cyprus Company is fulfilling its obligations deriving from the…
Corporate Information Shares and Corporate Governance Minimum number of directors: One Nationality requirements for directors: None Corporate directors permitted: Yes Minimum number of shareholders: One Maximum number of shareholders: Fifty Nationality restrictions on shareholders: None Company secretary required: Yes…