Effective from the tax year 2022 onwards, Cyprus taxpayers are obliged to prepare Transfer Pricing Studies for transactions exceeding €1m per category.
The Cyprus Tax Department has issued Frequently Asked Questions with reference to Article 33 & Article 33C of the Income Tax Law, Κ.Δ.Π. 314/2022 and Κ.Δ.Π. 273/2022 with effect as from 1st January 2022.
You can visit the FAQs by clicking the link below:
IFRS 9 – Financial Instruments
Tax treatment of provisions/impairment of receivables for tax purposes
bad debts proved to the satisfaction…
read moreOn 18 March 2021 the Cyprus Parliament voted into law the relevant Directive known as “DAC6”.
The Directive is intended…
Employees
Due date for submission of income tax return: 30/04 of the following year
Due date for submission of income tax…
The SIT is a form which must be submitted to the Tax Department on an annual basis and reflects…
read moreOn 11 December 2018, an amendment to the Income Tax Law was published which provides certain tax incentives for…
read moreUnder the new IP regime, 80% of qualifying profits generated from qualifying assets will be deemed to be tax…
read moreThe House of Representatives has voted an amendment to the Law regulating the settlement of overdue taxes, effective from 13…
read moreOn 15 April 2020, the Cyprus Merchant Shipping Law has been amended as follows:
Eligible Ship
The definition of ”Eligible Ship”…
The Deemed Dividend Distribution provisions apply to the profits of Cypriot tax resident companies that are attributable directly to…
read moreThe Registrar of Companies , with effect from 18 December 2019 will impose administrative penalties on certain filings submitted…
read more
