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Intellectual Property system in Cyprus amended

The following amendments are effective from 1 January 2020.


Existing provisions – Summary

Intellectual Property capital expenditure is capitalized and capital allowances are claimed throughout the useful life of the asset with a maximum useful life of 20 years.


New provisions

  • Disposal of the Intellectual Property and Preparation of balancing statement.

 

  • Capital Allowances.

  • Therefore, at the beginning of each year, the tax written down value of the IP must be recalculated over the remaining useful life of the Intellectual Property.

If you require more information or assistance regarding the above changes in the Intellectual Property system in Cyprus please do not hesitate to contact us directly >.


Interested in establishing a company in Cyprus for IP reasons? Learn more here >

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