Synopsis Cyprus has become a center through which many leading international companies conduct their business activities. Among the benefits which accrue in using Cyprus as a corporate vehicle is the lowest corporate tax rate in Europe, the extensive double tax…
The tax reform act of 2002 was inevitable in order to harmonize Cyprus’ laws and practices with the European Union laws and directives, the Code of Conduct and the Organization for Economic Cooperation and Development. The end result of this…
Circular 23/03/2011 New tax compliance obligations arise from Circular 2011/1 dated 15 February 2011 which has been issued by the Commissioner of Income Taxes. The circular states that as from 1 April 2011 annual income tax returns for all companies…
On 1 January 2010, a number of important VAT rules will change following the implementation of various European Directives and Regulations (the “VAT Package’), mainly concerning the place of supply rules for services. These changes may have an impact on…