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…
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…
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…
TREATY SHOPPING FOR LICENSING STRUCTURES – MINIMISE TAX EXPOSURE ON LICENSING INCOME TO AS LOW AS 0% – MAXIMUM 15% One major issue in licensing structures where license fees are paid between related parties is arms length pricing. Anti avoidance…
Year end checklist – TAX- VAT Planning can definetely be a holiday wish this season Tax and VAT in Cyprus are always changing and this year specifically it’s more important than ever for Cyprus Companies to better plan their…
Tax Update 29-Sept-2017 The House of Representatives has voted on 29 September 2017 the extension of the deadline for applying for the scheme regarding the settlement of taxes in arrears from 3rd October 2017 to 3rd January 2018. A prerequisite…
Notional Interest Deduction Case: LOAN RESTRUCTURING OPPORTUNITY THROUGH NID Country: UKRAINE COMPANY “LOAN RESTRUCTURING OPPORTUNITY THROUGH NID Cyprus resident Companies are entitled to a Notional Interest Deduction (NID) of up to 80% of their taxable income on qualifying new…
Cyprus offers a network of various double tax treaties (CTT) giving business and individuals the benefit while establishing legal entities in Cyprus. Tax Treaties replace the local tax legislation and protect business against double taxation of income earned within Treatie…