The Cyprus Parliament on June 19th 2020, voted for the Cyprus transposition of the European Union (EU) Anti-Tax Avoidance Directive (ATAD) for Exit taxation and Hybrid mismatch rules. The Directive essentially completes Cyprus’ transposition of the EU ATADs i.e. ATAD…
Regarding the Permanent Residency Permit for applicants from non-European Union countries, among the documents that need to be submitted, the applicant must meet the requirements noted below. There exists a “fast-track” and a “normal-track” procedure: A. The “fast-track” procedure is…
According to the Income Tax Law of 2002, the Cyprus tax residency- based system constitutes individuals physically spending over 183 days within a tax year (1st January to 31st December) in Cyprus (the “183-day rule”), as tax residents in that…
Applications for the long-awaited new generation electronic Cyprus passports, residence permits and ID cards have begun as of the 30th of July 2020 as announced by the Cyprus Civil Registry and Migration Department. Otherwise known as biometric, digital or e-passports,…
Cyprus and Switzerland, signed a protocol on Monday 21st July 2020, amending the existing double taxation agreement of 2014 intending to strengthen the framework of economic relations between the two countries. The signed protocol introduces the minimum standards of the…
Dear clients, associates and friends We have already entered the two hottest months of the summer safely. This is a very special summer, in the midst of a pandemic, daunting most people at the thought of their summer vacations. At…
Pursuant to subsection (2) of section 111A of the Civil Registry Laws of 2002-2013, the government of the Republic of Cyprus enforced a number of favourable incentives to encourage foreign direct investment into the country, as well as to attract…
On January 17th,2020, the double tax treaty between the Government of the Republic of Kazakhstan and Government of the Republic of Cyprus was ratified. The DTT Convention on income tax will enter into full force from 1st January 2021. The…
The popularity of the Multilateral Instrument Convention (MLI) is on the rise but few have understood and even less have seen its effect which has been argued to be a milestone in the history of international taxation. For instance, how…
Σε συνέχεια των μέτρων που ανακοινώθηκαν από το Υπουργείο Εργασίας, Πρόνοιας και Κοινωνικών Ασφαλίσεων, σας παραθέτουμε τους πιο κάτω όρους και προϋποθέσεις για το σχέδιο που έχει τεθεί σε ισχύ και αφορά επιχειρήσεις που έχουν αναστείλει μερικώς τις επιχειρηματικές τους…