Extension of the deadline for submission of TD7s and TD1s and of the deadline for settlement of the 2nd instalment of 2020 provisional tax
As per the law amendments voted by the House of Representatives, the Assessment and Collection of Taxes Law should be amended to provide for the below extensions: The deadline for
An extension of deadlines for submitting Income Tax Return for individuals and businesses
As per a relevant Decree issued dated 12 March 2021, the deadline for the below filings has been extended until 30 September 2021: Electronic submission for corporations to submit their
Extension to the imposition of administrative fines for overdue submission of DAC6 information
On 26 February 2021, the Cypriot Tax Department (CTD) announced that no imposition of administrative fines for overdue submission of information will apply until 30 June 2021. The relevant announcement
Extension of DAC6 reporting deadlines
As per an announcement of the Cyprus Tax Department dated 03 February 2021, DAC6 is expected to be enacted into the legislation within this month. Furthermore, the said announcement extends
DAC6 – upcoming Deadlines
Upcoming deadlines to communicate to the Cyprus Tax Authorities reportable Cross Border Arrangements (CBA) of Cypriot entities under DAC6 and our overview.
Tax Alert concerning Deemed Dividend Distributions for the profits of tax year 2018
Cyprus tax resident companies are deemed to have distributed at least 70% of their 2018 DDD-adjusted profits, by 31 December 2020 and settle relevant SDC and/or GHS (if any) by
Transfer Pricing Legislation in Cyprus
Transfer Pricing rules have been introduced into the Cyprus Tax Legislation as part of the alignment of the Cyprus Tax System with EU and OECD directives. The old margin system
IP Structuring Through Cyprus
The BEPS Action Plan has had a drastic impact in the field of international IP structuring, as the use of IPs was identified as an aggressive tax planning tool used
Corporate Substance Enrichment in Cyprus
Despite the work of the BEPS Action Plan being more than a decade old, there are still many companies in off-shore jurisdictions which do not meet the minimum substance requirements