Cyprus will sign the Multilateral Instrument of the OECD on the 7th of June 2017

The Cyprus government declared its intent to sign the ‘Multilateral convention to implement tax treaty related measures to prevent Base Erosion and Profit Shifting’ (Multilateral Instrument) of the OECD in setting minimum standards on Double Tax Treaties. The Ministry of Finance issued a press release stating that everything has been approved by the Council of […]


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New Tax Practice on Intra-Group Loan Facilities

INTRODUCTION In February 2017, the tax department in Cyprus announced its plan to end the existing tax practice in regards to minimum acceptable margins on loans given to related parties. The reason the tax department has decided to terminate the specific tax practice is that the tax system of Cyprus has to comply with the […]


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NEW CYPRUS DOUBLE TAX TREATIES HAVE ENTERED INTO FORCE RECENTLY

Cyprus has extended its double tax treaty (DTT) network after having introduced its new DTTs with Iran and Jersey. Cyprus – Iran DTT The Cyprus – Iran DTT has officially been introduced and will come into effect on the 1st of January 2018.  The DTT is in accordance to the OECD Model Tax Convention structure with minor […]


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Apply to Cyprus Securities & Exchange Commission

Those applying to CySEC for a CIF license are required to include an operation manual consisting of company procedures and policies, a business plan, questionnaires answered by the company’s board members, shareholders and managers as well as the company’s organisational structure.  The CIF’s board is required to comprise of two executive directors or more as […]


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Cyprus & India Tax Treaty

The amended Cyprus & India Double Tax Avoidance Agreement will come into complete effect in April 2017 as announced by the Central Board of Direct Taxes (CBDT) in India. Based on the CBDT’s recent announcement, both parties have informed each other that they have completed the ratification procedure concerning the amended agreement. The amended treaty […]


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CySEC proposes reforms for Binary Options Trading

The Cyprus Securities and Exchange Commision (CySEC) has been concerned with the deficiencies of Binary Options trading and the lack of sufficient protection towards investors. For this reason it has released a consultation paper with the proposed 5 key reforms to eliminate the problems lying within the current framework and at the same time institute […]


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Cyprus amends Intellectual Property Box Regime

Intellectual property box regimes are special tax regimes used by countries to provide incentives for research and development by taxing patent revenues different than other commercial incomes. In the Brisbane summit back in September 2014 a proposal was made by Germany and the UK in order to reach an agreement on a single mutual approach […]


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Tax amendments for non-domiciled Cyprus individuals

After the amendments made in 2015 the payment of Special Contribution for Defence on income for non-domiciled Cyprus individuals was terminated. Non-domiciled Cyprus individuals are exempt from the SCD contributions on rental income, interest and dividends. This is applicable even if the individuals are Cyprus tax residents. This is applicable regardless of the origin of […]


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How can someone be a Cyprus tax resident & be non-domiciled?

We have already outlined in previous articles the benefits, especially those related to tax, foreigners obtain when becoming a Cyprus tax resident. Today we will name all the documents required to be submitted to the Cyprus authorities in order to become a tax resident. The Cyprus authorities want proof that the applicant maintained a domicile […]


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2017 Cyprus Property Taxation

Numerous alterations have been made to Cyprus’ property tax lately. Below we have outlined how these changes will potentially benefit or influence Cyprus property holders. The changes made to the taxation will be in effect in 2017. It is mainly believed that the latest alterations made to property taxation in Cyprus will benefit both existing […]


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