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Monthly Archive for: ‘November, 2011’

Circular English – 22/11/2011

We would like to bring to your attention the following matters which concern Cyprus companies. Stock takes Under the current legislation, companies which maintain stocks should carry out a stock take during the year end and the results of the stock take should be made available to the Commissioner, in case they are requested. Please inform us as to when …

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Circular Greek – 22/11/2011

Αγαπητέ Πελάτη, Θα θέλαμε να σας υπενθυμίσουμε για τα πιο κάτω θέματα που αφορούν Κυπριακές εταιρείες. Καταγραφή αποθεμάτων Σύμφωνα με την εν ισχύουσα νομοθεσία, εταιρείες οι οποίες έχουν αποθέματα, πρέπει να προβούν σε καταγραφή τον αποθεμάτων τους κατά το τέλος του έτους και τα αποτελέσματα της απογραφής να δοθούν στον Έφορο Φόρου Εισοδήματος εάν και εφόσον ζητηθούν. Παρακαλούμε όπως μας …

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Special levy tax for Cyprus companies – Circular 17/11/2011

In light of the imposition of special levy tax on Cyprus Companies you are kindly requested to arrange payment of €350. You are kindly requested to make the relevant payment before 30/11/2011 so that we proceed with filings before the end of the year. Failing to comply with this measure you will have to deal with consequences in point C …

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Taxation in Cyprus

PERSONAL INCOME TAX Where an individual is a resident in the Republic, tax is imposed on income accruing or arising from sources both within and outside the Republic. Where an individual is not a resident in the Republic, tax is imposed on income accruing or arising only from sources within the Republic. An individual is considered to be resident if …

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Ετήσιο τέλος €350 για Κυπριακές εταιρείες – Circular 17/11/2011

Αναφορά: Υπενθύμιση για καταβολή ετήσιου τέλους ύψους €350,00 για όλες τις εγγεγραμμένες κυπριακές εταιρείες. Σύμφωνα με την πρόσφατη νομοθεσία Ν117(Ι)/2011 θα θέλαμε να σας υπενθυμίσουμε ότι όλες οι εγγεγραμμένες εταιρείες στο αρχείο του Εφόρου Εταιρειών και Επίσημου Παραλήπτη υποχρεούνται στην καταβολή ετήσιου τέλους ύψους €350,00 (τριακόσιων πενήντα ευρώ). Όσον αφορά το έτος 2011 οι εταιρείες υποχρεούνται στην καταβολή του τέλους …

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Tax News – first package of measures – 23/09/2011

Circular 23/03/2011 On Friday 26 August 2011 the House of Representatives voted as a first step, amendments to various tax legislations, in order to raise revenues and decrease government spending to enable the Government to deal with the economic crisis which Cyprus faces. These changes relate to increasing various taxes, introducing a levy for all companies incorporated in Cyprus, as …

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Profit Margins acceptable by the IRD-Loans between associate companies – Circular 04/08/2011

Article 33 (Arms length principle) of the Cyprus Income Tax Law gives power to the Commissioner of Income Tax to adjust a company’s taxable profit where it believes that the financial result of a certain transaction was influenced by the fact that the parties to the transaction were related or connected. Therefore, it is required that interest on loans provided …

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Enterprise Worldwide Newsletters

Enterprise Worldwide publishes its newsletters on a quarterly basis. The newsletters contain articles from various Enterprise Worldwide members and give information regarding a number of country specific updates. Please click on any link below for the Enterprise Worldwide Newsletters. October 2011 International Newsletter, 15 October 2011, Issue 6   June 2011 European Newsletter, 1 June 2011, Issue 5   February …

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Holding Companies Incentives – 01/2011

A Cyprus Holding Company can be effectively utilized for international tax planning purposes and at the same time enjoy the status of being located at a reputable business centre within the European Union. In summary, a Cyprus Holding Company offers the following advantages in relation to the major tax considerations: Dividend income received from subsidiary companies abroad is exempt from …

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Information on Cyprus Business Companies – 01/2011

SYNOPSIS Cyprus has become a centre through which many leading international companies conduct their business activities. Among the benefits which accrue in using Cyprus as a corporate vehicle are the lowest corporate tax rate in Europe, the extensive double tax treaty network, the secure environment, its reputation, infrastructure and favorable tax provisions. Company Name The name of a company must …

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