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The first time double tax treaty (DTT) between Cyprus and Jersey signed in July 2016 entered into force on 17 February 2017 as per a recent update of the Cyprus Ministry of Finance. Per the provisions of the DTT it will now take effect as from 1 January 2018. The treaty provides for 0% withholding...
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Doing Business 2017: Equal Opportunity for All, a World Bank Group flagship publication, is the 14th in a series of annual reports measuring the regulations that enhance business activity and those that constrain it. Doing Business presents quantitative indicators on business regulations and the protection of property rights that can be compared across 190 economies—from...
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SOFTimpact LTD.,  presented the CYBER SECURITY event entitled: HACKING – The silent threat to your business! The event took place on Thursday 23rd February 2017 on the premises of Intership Navigation Co. Ltd. With a large turnout of CIBA members and guests, Lee Williamson the Principal Consultant IT Infrastructure of SOFTimpact, presented this very informative meeting and gave an: Overview...
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For the purposes of the NID the Cyprus Tax Authorities (CTA) have now announced the interest yields of the 10-year government bonds for Cyprus, Czech Republic, Germany, India, Latvia, Poland, Romania, Russia, Ukraine, United Arab Emirates and United Kingdom as at 31 December 2016, the relevant date for tax year 2017. We understand that, unless...
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The Cyprus Tax Authorities (CTA) recently informed the Institute of Certified Public Accountants of Cyprus (ICPAC) via a letter that with effect from 1 July 2017 they will cease their practice of specified minimum spreads on qualifying related-party financing transactions that was based on 2011 correspondence between the CTA and the ICPAC. The letter notes...
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Cyprus’ double tax treaty network has been extended with four new treaties becoming effective as of 1 January 2017. These include treaties with India, Latvia, Bahrain and Georgia. The four new treaties are generally based on the Organisation for Economic Co-operation and Development Model Tax Convention framework with a number of modifications. This Alert summarizes...
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The House of Representatives voted a new law (L. 4(I)/2017) regarding the procedure for the settlement of overdue tax liabilities. This law was published in the Official Gazette of the Republic (“Gazette”) on 03/02/2017 and will enter into force as of the date that the Commissioner of Taxation publishes the relevant notification in the Gazette....
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Overregulation may damage business in Cyprus by Chris Koufaris To read the full article in Successful Business Magazine, follow the link here below:- https://issuu.com/brochvk.pdf/docs/sb24_issuu_/82
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The Tax Department would like to inform you that online registration to the V.A.T. Taxisnet system is now available. Registration to the Taxisnet system is a prerequisite for the electronic submission of V.A.T. Returns and Recapitulative Statement (VIES).  Online registration can be accomplished through the following link: https://taxisnetreg.mof.gov.cy The Tax Department encourages taxpayers to use online...
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