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…
In the financial services sector in UK the word BREXIT is a synonym of uncertainty and risk. Uncertainty combined with a lower risk appetite decreases business investment, hiring new staff and a re-assessment of the cash and cost control of…
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…
Why Choosing Cyprus for International Trusts (CIT) The Cyprus International Trust regime enables non-tax residents of Cyprus to create a Trust in Cyprus and enjoy the highest possible degree of asset protection and create estate planning internationally along with 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…