VAT on Immovable Property Update: Circulars on the Implementation Further to the amending VAT legislation (details in our November VAT Newsletter) on building land and immovable property leasing, Cyprus House of Parliament and Tax Department have released Regulations and Circulars respectively, clarifying the applicability of VAT imposition on non-developed land as well as on commercial […]
31st of January 2018 is the last payment date for: • The 2nd instalment of the 2017 Provisional tax (in case no revised Provisional Tax (form TD6) was submitted on 31st of December 2017) • Special Contribution for Defence with regard to deemed dividend distribution of the year 2015 Deemed distribution does not apply in respect of […]
On 3 January 2018, Cyprus signed a tax treaty with Saudi Arabia. The tax treaty is based on the OECD Model Convention and its main provisions are briefly outlined below: Dividends: No withholding tax (WHT) on dividends, if the beneficial owner (BO) is a company which holds directly or indirectly at least 25% of the […]
Read MoreTAX TREATY SIGNED WITH SAUDI ARABIA – COURTESY OF DELOITTE
The Cyprus-Russian Business Association authorized EY Cyprus to conduct the first survey, Russia Doing Business in Cyprus 2017 – Measuring Quality and Efficiency. The full survey report can be read here: ey-russian-report
Read MoreEY AND CYPRUS-RUSSIAN BUSINESS ASSOCIATION, LAUNCH FIRST RUSSIAN BUSINESS STUDY REPORT
On 5 December 2017, the ECOFIN Council published its conclusions on the EU common list of (third country) non-cooperative jurisdictions in tax matters, also referred to as the ‘blacklist’. This initiative forms part of the EU’s broader agenda on furthering tax transparency, fair taxation and the implementation of anti-BEPS measures with the dual aim of […]
The Cyprus tax authority (CTA) opened on 14 November 2017 a public consultation on Cyprus’ transposition into national law of the two EU Directives on anti-tax avoidance (ATAD1 & ATAD2). The CTA has published, in the Greek language, the wording of an initial draft bill (the Consultation Document) and seeks comments and suggestions in order […]
Read MoreCYPRUS’ PUBLIC CONSULTATION ON THE EU’S ANTI-TAX AVOIDANCE DIRECTIVES – COURTESY OF PWC
On 11 December 2017, the Cyprus Tax Department (CTD) announced the extension of certain deadlines related to Country-by-Country (CbC) Reporting. Αs 2017 is the first year that CbC filings become due, the extensions will facilitate the compliance of taxpayers with the new legislation. Submission of CbC Reports for 2016 Reporting Fiscal Year An extension has […]
Read MoreEXTENSION OF COUNTRY-BY-COUNTRY REPORTING DEADLINES – COURTESY OF DELOITTE
The CIBA 24th Annual General Meeting took place with great success at the Amathus Hotel in Limassol, with exclusive sponsor Oxley Holdings Limited. Present at the AGM was the Executive Chairman and CEO of the Oxley Group, Mr Ching Chiat Kwong, who was invited to give a brief welcome at the start of the AGM. […]
CIIM in collaboration with the Simerini Newspaper is proud to announce 5 Full Scholarships for the following postgraduate programmes: • Master in Business Administration (MBA) • MSc in Human Resources Management and Organisational Behaviour • MSc in Financial Services • MSc in Business Management • MSc στην Εκπαιδευτική Ηγεσία & Διοίκηση (Greek) Partial Scholarships of up to 50% on tuition fees are […]
Read MoreCIIM IN COLLABORATION WITH THE SIMERINI NEWSPAPER IS PROUD TO ANNOUNCE 5 FULL SCHOLARSHIPS
The Minister of Health, Dr. George Pamborides, accepted an invitation from the Cyprus International Businesses Association (CIBA) to inform the members regarding the National Healthcare Scheme and the reform thereof. This event took place at the Amathus Hotel in Limassol. In his presentation the Minister gave an overview of the Cyprus National Healthcare Scheme, stating amongst […]
Read MoreCIBA EVENT WITH SPEAKER THE MINISTER OF HEALTH, DR. GEORGE PAMBORIDES