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NEW DOUBLE TAX TREATY BETWEEN CYPRUS AND UKRAINE

Oct 2, 2013
Following the ratification of the new treaty by the Government of Cyprus on the 22nd of  March 2013, the Ukrainian parliament has proceeded with the ratification the new double  tax...

INCREASE IN THE CORPORATE TAX RATE

May 8, 2013
With effect from 1 January 2013 the corporate tax rate has been increased from 10% to 12,5%. Transfer and carry forward of tax losses by credit institutions With effect from...

CASH RESTRICTIONS MEASURES

Mar 28, 2013
The Minister of Finance, in exercise of the powers conferred by Articles 4 and 5 of the restrictive measures in trade in Case of Emergency Act of 2013, upon the recommendation of...

UPDATE ON THE CYPRUS ECONOMY

Mar 26, 2013
Cyprus reached a €10bn bailout deal with international lenders on Monday (25/03/2013) morning. The deal avoids a levy on bank accounts but will force large losses on big deposits in the island’s two...

THE CYPRUS PARLIAMENT REJECTED THE DEAL OF DEPOSIT TAX

Mar 20, 2013
The decision of the Cyprus Parliament to reject the bailout deal on Tuesday night has proven the trustworthiness of Cyprus as a major financial center sending out the signal that...

EXCEPTIONAL NATURALIZATION

Nov 28, 2012
For the background information on the topic please refer to the article Acquiring Cypriot Citizenship by Direct Investment. What is the applicable law? Law 141(Ι)/2002-2011 (sections 109-113 και 3rd schedule) Appendix “D”...

ACQUIRING CYPRIOT CITIZENSHIP BY DIRECT INVESTMENT

Nov 26, 2012
The Council of Ministers has in recent years announced a policy according to which it will examine favourably applications for citizenship provided certain investment criteria are satisfied. The main pillars...

WHO DO CYPRUS DIVIDEND TAXES APPLY TO?

Jun 27, 2012
In last week’s article, an overview of the Cyprus’s defense tax was given. As briefly outlined before, Cyprus’s defense tax also, in certain cases, applies to dividends. However, whether or...

CYPRUS DEFENSE TAX GUIDE FOR COMPANIES

Jun 20, 2012
Governments have the right to impose any tax they wish. Cyprus, for instance, has a 15 percent defense tax. This levy is due on June 30 and December 31 each...