Cyprus has branded itself through history as a country where its real value is created through the nurturing of creative ideas, which made it a home for many prospective entrepreneurs and foreign investors looking for investments and growth as well…
According to the announcement made by the Ministry of Finance on 25/09/2023, the timely submission of the Individual Income Tax Declaration (TD1) for the year 2022 and the payment of any due tax/contributions is extended until October 31, 2023. For…
The sensitive issue of Beneficial Owner’s disclosure has been brought up again to surface due to a reminder sent out by the Cyprus Authorities. The reminder states that the 30th of September is the final deadline for the registration of…
On the 6th of July 2023, a new circular was issued by the Tax department, in addition to the one voted in 2022, that takes into consideration the related transactions which are lower of the threshold of €750,000 in aggregate…
As a response to the sanctions placed on Russia, due to the current state of affairs in Ukraine, Vladimir Putin has signed, on the 8th of August 2023, a decree suspending (not abolishing) the double tax treaties with multiple countries…
CyprusTax Department would like to inform that for documents processing with variable fees purposes, a new version of the Stamp Duty calculator has been uploaded on the website under Direct Taxation – Other Information – Stamp Duty Calculator, replacing the…
During the past few decades, Cyprus has been under assessment to be able to enter the Schengen Information System (SIS). Cyprus has finally been given the green light to join the SIS (joining on 25th July 2023), which means that…
On June 9, 2023, the Cyprus Tax Authorities announced that an obligation to prepare and submit a Tax Return for 2023 is applicable only to individuals whose annual gross income exceeds € 19,500. Be advised that Cyprus Tax Authorities have…
On June 22, 2023, the Plenum of the Parliament introduced an important amendment to the Income Tax Law, extending the existing provisions of the income tax exemption for individuals employed in the Republic. This amendment affects any person who was…
The Tax Department announced that as of May 3rd 2023 tax payments through JCC platform will no longer be available and payments will be executed ONLY through Tax Portal. Companies can log-in to Tax Portal using their TaxisNet credentials. In…