Amendments to Income Tax Law When a company director or individual shareholder or his/her spouse or any relative up to second degree receive a loan or other financial assistance from the company, then that person is deemed to have obtained…
Τροποποιήσεις στον Περί Φορολογίας του Εισοδήματος Νόμο Όταν οποιαδήποτε εταιρεία παραχωρεί δάνειο ή οποιαδήποτε άλλη χρηματική διευκόλυνση, εξαιρουμένου υπολοίπου που προέρχεται από εμπορικές συναλλαγές, σε διευθυντές ή μετόχους που είναι φυσικά πρόσωπα, ή των συζύγων τους ή σε συγγενείς τους…
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 stocktake…
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…
In light of the imposition of the 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…
PERSONAL INCOME TAX IN CYPRUS 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,…
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…
On Friday 26 August 2011 the House of Representatives voted as a first step, amendments to various tax legislation, in order to raise revenues and decrease government spending to enable the Government to deal with the economic crisis which Cyprus…
Article 33 (Arm’s 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…
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 center within the European Union. In summary, a Cyprus Holding Company offers…
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…
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…
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 as well…
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…